Organization Root Tag

The pandemic brought a flood of digital transactions to Visa's network. Fraudsters tried to take advantage, but "It’s my team’s job to be a step ahead of the bad guys," said Kelly, the card network's global head of risk strategy.

All five of the Biden administration's nominees received enough votes to secure passage to the Senate floor. Chair Sherrod Brown of Ohio called the moment "historic."

During his March Federal Open Market Committee meeting press conference, acting Federal Reserve Chair Jerome Powell said the Fed's supervision and regulatory panel was no longer active and key decisions about stress tests and bank mergers were being handled by the full board.

The Federal Reserve Board voted to lift the benchmark rate to target range of 0.25% to 0.5% and signaled more hikes at all six remaining meetings this year.

Sarah Bloom Raskin, whose views on the role of climate risk in bank supervision angered Republicans, said she has taken herself out of the running so the gridlocked Senate Banking Committee could move forward with the Biden administration’s other nominees to the Federal Reserve Board.

Sheila Bair, who served under presidents of different parties, says she is worried about the potential aftermath of the recent partisan power struggle on the board of the Federal Deposit Insurance Corp. She recommends President Biden appoint Republicans or independents to its two open seats to ensure a diversity of ideas.

JPMorgan Chase agreed to buy Global Shares, a provider of cloud-based software for managing employee share plans, as the biggest U.S. bank scoops up firms to fend off competition.

The White House’s ambition to bring new oversight to the banking industry and reverse Trump-era deregulation was dealt a blow when Sen. Joe Manchin of West Virginia said he would oppose Sarah Bloom Raskin's nomination as the Federal Reserve's vice chair of supervision.

Meghji only made it a year as chief innovation officer at the Federal Deposit Insurance Corp. before leaving in recent weeks. He describes the obstacles to new ideas within federal banking agencies and banking itself.

The West Virginia Democrat released a statement Monday saying that Sarah Bloom Raskin, President Biden's nominee to serve as the Federal Reserve's top regulator, "failed to satisfactorily address my concerns" and that he would not support her. Manchin's "no" vote puts her confirmation very much in doubt.

Under procedural changes recently adopted by the Consumer Financial Protection Bureau, the director could pursue more enforcement actions administratively without federal court approval. Financial firms may have a harder time defending themselves as a result.

In a survey last month, only one in 10 chief executives identified mergers as their top priority, while 77% pointed to organic growth. The sparse interest in dealmaking may be due to volatile markets, along with slower approvals from regulators.

Deutsche Bank reversed course and is now joining Wall Street banks Goldman Sachs Group and JPMorgan Chase in pulling back from business in Russia following the country’s invasion of Ukraine.

The crypto ambitions of large technology companies are drawing concern from the Consumer Financial Protection Bureau.

A supervisory letter detailing their failings in assessing exposure to a collapsed hedge fund suggests that the Federal Reserve believes banks are falling short in basic risk management.

Citigroup’s Greg Girasole and Alex Kriete, who were tapped by the bank last year to oversee a new digital-assets group inside its wealth management division, are departing. 

The Federal Deposit Insurance Corp. reported a spike in troubled assets, suggesting a fairly large bank may be under heightened scrutiny. But confidentiality rules make it impossible to confirm any details.

Sarah Bloom Raskin’s nomination to be Federal Reserve vice chair of supervision has been dealt another blow as key Senate Democrat Joe Manchin suggested President Biden’s other four central bank nominees move forward without her. 

A Biden administration cryptocurrency executive order strikes the right balance between encouraging responsible innovation and addressing potential risks to consumers and the broader financial system, Treasury Secretary Janet Yellen said in a statement posted to the Treasury Department’s website Tuesday night.

American Express said more than 40% of its U.S. employees have opted to work remotely on a full-time basis, double the number from before the pandemic.