Organization Root Tag

The former vice chair for supervision challenged his successor's report on the failure of Silicon Valley Bank, said changes that move away from transparency and consistency 'won't survive' in court.

The Consumer Financial Protection Bureau alerted staff this week that text messages had been sent to employee personal phone numbers claiming to be from Director Rohit Chopra.

The Federal Reserve meeting May 2-3 will be closely watched for hints about what the FOMC's next move is. Join BNP Pariba U.S. Economist Yelena Shulyatyeva at 11 a.m. May 4 as she takes a look at the meeting and Chair Powell's press conference.

The director of the Consumer Financial Protection Bureau told a fintech audience Thursday that banks need to make it easier for consumers to switch accounts, and should make lending decisions with less reliance on credit scores.

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.

The Federal Deposit Insurance Corp. board voted 3-2 to propose a special assessment of 0.125% on banks with uninsured deposits over $5 billion.

"I think it's going to get worse for banks — more regulations, more rules and more requirements,'' JPMorgan Chase CEO Jamie Dimon said in a Bloomberg Television interview from Paris on Thursday.

The warning from the state's chief financial officer comes after a new law was passed banning banks from holding public funds if they use social and political factors in lending decisions.

Last year, Citi announced that it was looking to dispose of the consumer, small-business and middle-market banking divisions in Mexico, while holding on to the institutional operation. 

The president of the Federal Reserve Bank of New York said the performance of office loans is a top supervisory issue, but not an immediate threat to financial stability.

Sen. Elizabeth Warren, D-Mass., led a group of Democratic lawmakers in writing to executives of large credit card issuers on their late fee policies and costs.

The New York-based bank struck the deal with lawyers representing about 2,800 female associates and vice-presidents, according to a joint statement from the bank and the plaintiffs' lawyers.

The Fed's report on the failure of Silicon Valley Bank describes a "shift" in supervisory culture that began five years ago. Some say the issue is much older than that.

JPMorgan sued Javice and Olivier Amar, another Frank executive, for fraud in Delaware federal court in December, claiming they falsified records to show the site had more than four million customers when it actually had less than a tenth that number.

The Federal Reserve claims to want to encourage the formation of de novo banks, but its treatment of Custodia Bank calls that commitment into question.

The resignation comes after the bank was placed on the state treasurer's list of fossil fuel industry boycotters.

It's clear that credit unions buying community banks is bad for businesses, bad for communities and bad for government tax revenue.

Toronto-Dominion's Common Equity Tier 1 capital ratio was 15.5% as of Jan. 31, far in excess of the amount Canadian banks typically hold. 

The Federal Deposit Insurance Corp. is poised to exempt smaller lenders from kicking in extra money to replenish the government's bedrock Deposit Insurance Fund, and instead saddle the biggest banks with much of the bill.

Merger arbitrage traders were expecting hiccups in Toronto-Dominion Bank's proposed takeover of First Horizon, but they were unprepared for its cancellation.