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The continuing cycle of scandal has forced big banks to get crafty in how they influence debate in Washington. The latest action against Wells Fargo ensures more backroom dealing.
February 6
American Banker -
Comptroller of the Currency Joseph Otting met Tuesday with acting CFPB Director Mick Mulvaney to discuss ways to reduce regulatory burden and coordinate supervision of financial firms.
February 6
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The Federal Reserve’s order restricting Wells Fargo puts other bank boards on notice that they could be singled out for failure to perform, but also makes it easier for them to avoid that fate.
February 6
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The acquisition of Coker Capital Advisors would be the fifth nonbank deal for the Cincinnati company in the past year.
February 6
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The heads of the Securities and Exchange and Commodity Futures Trading commissions said they are not ignoring the fast-growing cryptocurrency sector and they have some oversight powers. But they indicated that they might need more.
February 6
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Putting money directly in people’s pockets requires more speed and efficiency through innovative technologies and payments systems, writes Deirdre Ives, managing director of Wirecard North America.
February 6
Wirecard North America -
A group of credit unions is looking to make the most of two big banks' recent moves that angered their customers.
February 6
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The move is mainly in response to fintech firms that have long argued that the main route to doing business is by getting a license in each state, which can be a cumbersome and repetitive process.
February 6
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Shares drop nearly twice as much as other bank stocks and the broader market; agency denies it’s looking to end the investigation into last year’s data breach.
February 6
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It is unclear whether the Consumer Financial Protection Bureau is abandoning its supervisory oversight of Equifax or just taking a back seat to the Federal Trade Commission as the latter investigates the credit bureau.
February 5
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If the Fed order is lifted quickly — a big if — then the impact on Wells should be minimal. But if it lingers past 2018, then the bank could find itself on the losing end of the battle for customers and top talent.
February 5
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Credit standards for commercial loans to medium and large firms showed some signs of easing over the last three months of 2017, even though demand stayed relatively unchanged.
February 5
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Bank stocks tumbled on Monday amid a wider sell-off as investors' concerns mounted that wage growth could lead to inflation, higher borrowing costs for businesses and changes in the Fed's rate-hike plans.
February 5
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Overstock will offer automated investing to its millions of shoppers. Some financial advisers reacted with a shrug, but are they underestimating the move?
February 5
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The plan would harmonize a 2015 rule establishing swap margin requirements with a later policy that imposes restrictions on certain qualified financial contracts.
February 5
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A Georgia Supreme Court case sheds light on the lengths that the often assailed industry has gone to shape policy outcomes. It also raises the question of whether, in evaluating industry-funded research, it is enough to assess the published study itself, or if it is necessary to dig deeper.
February 5
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Walmart is the first major merchant to add Fiserv’s Accel signature debit service following the debit network’s recent expansion of routing options, in a move to cut costs for card acceptance.
February 5
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Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank.
February 5
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Acting Director Mick Mulvaney’s decision to halt the collection of consumer data renders bank exams less effective and ignores existing cybersecurity protections, the Massachusetts senator argues.
February 5
U.S. Congress -
Celent analysts Alenka Grealish and Stephen Greer explain how banks in Europe and the Netherlands have built business models around open banking.
February 5
