Organization Root Tag

Jay Clayton, the Wall Street lawyer tapped to lead the Securities and Exchange Commission, faces what could be an uncomfortable reunion this week with Senator Elizabeth Warren.

Amer Sajed, a 56-year-old Pakistan-born immigrant to the U.S., will step down from his role leading the bank’s credit card business in July after being spurred into activism by President Trump's stances on social and other issues.

Regulators want to make rules easier for small banks; auto loan defaults rise while used-car prices fall.

Royal Bank of Canada has long been enthusiastic about payment technology that most other banks usually see as long-term projects.

Democrats, financial services industry executives and even Wall Street reformers are speaking out against President Trump's proposed cuts to the CDFI program.

The lender will begin an ad campaign in mid-April with the tag line "Building Better Every Day," company employees were told Tuesday.

In a further illustration of weakness in the auto sector, Ally Financial said Tuesday that its 2017 profits will likely be dinged by rising delinquencies on subprime auto loans, as well as by falling used-car prices.

During a panel discussion Tuesday, regulators said they are trying not to crack down too hard on sales incentive programs and fix problems that bankers have identified with the exam system.

Freddie Mac is bolstering its relationships with housing finance agencies after it fell short of reaching two affordable housing goals last year.

So-called performance-share units are pushing aside stock options as the preferred long-term incentive pay for bank executives. Many investors and regulators fear that options can encourage reckless conduct and have other shortcomings, though options still have supporters.

In his new role at the nation's largest bank, Andrew Kresse will manage the business that serves companies with up to $20 million in annual revenue.

Though it's too early to have a concrete plan regarding Fannie Mae and Freddie Mac, the administration is creating a set of principles that it hopes to release in a few months.

Ingenico ePayments, the online and mobile commerce division of France's Ingenico, has signed an agreement with Air China to accept Discover Card payments in North America, a key market for the Beijing-based airline, with plans to expand to other regions later this year.

The Federal Deposit Insurance Corp. said the Deposit Insurance Fund is projected to reach 1.35% of insured deposits next year, well ahead of a 2020 deadline.

Banking regulators on Tuesday called for a raft of regulatory changes, including streamlining capital, reporting and appraisal rules in order to reduce compliance burden.

The scandal involving Wells Fargo that surfaced last year shows the U.S. banking industry still has work to do on improving its culture, Federal Reserve Bank of New York President William Dudley said.

As the House Financial Services Committee prepares for a hearing on the struggles of chartering new financial institutions, CU observers debate whether or not the credit union movement – amid an ongoing trend of industry consolidation – actually needs any new entrants.

American Express Co., the biggest credit-card issuer by customer spending, paid Chief Executive Officer Ken Chenault $22 million for his work in 2016, a 19 percent increase from a year earlier.

The German lender says that the Justice Department closed a criminal inquiry into its currency-trading activities without action, but regulators are said to be in the final stages of their own reviews of that conduct to determine if any fines are in order.

Jim Rosenthal previously served as chief operating officer at the Wall Street investment bank. He joins the board of an online lender that has recorded losses in five straight quarters.