Organization Root Tag

The industry was already spending billions to automate before 2020. What it needed was a cultural shift to try new things.

Offices, apartment buildings and retail locations in Los Angeles face a tangle of difficulties as the smoke clears from January's wildfires. High on the list is inadequate insurance, a common problem in California.

The customer complaints received by the Consumer Financial Protection Bureau are not just a list of grievances. They are a vital source of information for banks and financial services firms, and must be retained.

Holly O'Neill, who was No. 5 on American Banker's list of the Most Powerful Women in Banking last year, will oversee a new department combining BofA's retail and preferred units. Aron Levine, who previously led preferred banking, is leaving the company.

Decreased funding for Community Development Financial Institutions and the declawing of the Federal Deposit Insurance Corp. are top of mind for bankers.

The co-founder of Strategas Securities is no longer in the running to become U.S. Treasury assistant secretary for financial markets due to a newly discovered health issue.

The Office of the Comptroller of the Currency said it would cease its participation in interagency principles for regulating climate-related risks at the banks it regulates. 

An executive order requiring the government to stop issuing paper checks is expected to help banks, which have seen a rise in check fraud with the introduction of mobile deposits and digital check imaging.

The Internal Revenue Service has placed 50 senior IT leaders on administrative leave, as the union filed suit over a Trump order on collective bargaining.

Terry Dolan, vice chair and chief administration officer at the Minnesota bank, had been at the company for more than 25 years.

Banks can now engage in crypto without Federal Deposit Insurance Corp. approval, part of a broader Trump-era deregulatory push to integrate digital assets into traditional finance.

The Trump administration's plan to reduce the performance of the Community Development Financial Institutions Fund would sacrifice the United States' most cost-efficient investment in itself.

Javice sold her student-aid startup, Frank, to JPMorgan in 2021. Two years later, the bank accused her of creating fake profiles to boost the number of customers.

The Internal Revenue Service's Criminal Investigation unit has a new initiative for engaging with financial institutions to uncover tax and financial fraud.

The bank now offers personal loans up to $50,000 to State Farm customers, the latest step in its effort to broaden its customer base by teaming up with other companies.

The Federal Reserve governor said it is healthy to examine the regulatory architecture, but stressed the importance of the central bank having insight into the banking system.

Places to work at the 7 Times Square location "will be available on a daily first-come, first-serve basis," the Office of the Comptroller of the Currency told employees who supervise major U.S. banks.

The midyear fee hike was necessary to reverse a revenue shortfall in the agency's 7(a) program, according to Administrator Kelly Loeffler.

The Consumer Financial Protection Bureau said in a court filing that it plans to reverse its interpretive rule tightening standards for Pay in 4 buy now/pay later loans.

The San Francisco bank announced Monday that it has shed its fifth regulatory order this year — this one related to loss mitigation practices in its home lending business.