Organization Root Tag

Talwar, who is leaving his job as chairman of Goldman's consumer bank this month, explains his philosophy on innovating within a large organization, making a digital-only unit work within a 150-year-old institution, and how he deals with skeptics.

Some policymakers in the nation’s capital have urged the Federal Reserve banks of Boston and Dallas to consider people of color and women while selecting new presidents. Republicans led by Sen. Pat Toomey of Pennsylvania say the process should be left to the local bank boards.

While focused on transformation at the bank, Latini has been involved in broader challenges such as promoting women and diversity in Malaysia.

“At HSBC, we’re very committed to the transition to a global net zero economy, not just by playing our part, but by helping to lead it,” she said.

“We've put a goal there that's very specific, and we're very loud about where we are on the path to it and how we're getting there,” Fitzsimmons said. 

The disclosure was made as part of a filing about Circle’s planned merger with the special purpose acquisition company, Concord Acquisition Corp.

Acting Director Sandra Thompson said the Federal Housing Finance Agency is considering changes to the risk-based fees that critics say have disproportionately hurt minority borrowers of low down-payment loans.

The Federal Reserve chairman told lawmakers that the central bank wouldn't try to block other cryptocurrency providers if it decides to issue a digital dollar. At the same hearing, Treasury Secretary Janet Yellen continued to defend a proposal requiring banks to report customer account information to the IRS.

Criticism from banking and other business groups of Saule Omarova’s candidacy could make it difficult for moderate Democrats to support President Biden's pick to lead the Office of the Comptroller of the Currency.

The financial sector had been outraged over a Senate proposal requiring data submissions for accounts with at least $600 of inflows and outflows. House leaders are aiming to raise that threshold to broaden support, but industry groups say they still oppose the idea.

Lawmakers approved adding the measure, which gives banks legal cover to serve cannabis firms, to a broader legislative package. But the provision has already passed the chamber several times and analysts say full enactment will be more difficult.

The nation's largest bank has chosen Thought Machines' technology for its U.S. consumer bank.

Requiring financial firms to report customer account data to the IRS as a means of catching tax cheats would be intrusive and costly, industry officials say. Backers of the measure say those claims are exaggerated.

Treasury officials have identified what they believe are the most urgent risks posed by Tether and other stablecoins as they ready recommendations for stricter oversight of cryptocurrencies.

Treasury Secretary Janet Yellen lobbied the chairman of the Ways and Means Committee on the measure requiring bank-provided customer data to help crack down on tax cheats and pay for the $3.5 trillion spending plan.

The agency’s enforcement action against a Virginia nonprofit is seen as reining in income-share agreements, which give students tuition in exchange for future wages and which critics complain have evaded scrutiny. Clearer regulatory guidance could solidify ISAs’ legal viability, proponents say.

Congress is considering whether to fund Biden administration spending priorities by forcing tax evaders to pay what they owe. Banks are intensifying efforts to kill a related provision requiring them to share more account data with the Internal Revenue Service.

The Office of the Comptroller of the Currency made good on a promise to rescind Community Reinvestment Act reforms finalized by ex-Comptroller Joseph Otting as part of talks with other regulators on an interagency overhaul of the law.

Net income significantly recovered compared with a year earlier, totaling $70.4 billion. But the average net interest margin fell to another record low as lending remained sluggish, the FDIC said in its quarterly update.

The agency’s enforcement action against Better Future Forward says the nonprofit’s income-share agreements — an alternative education finance product — must follow the Truth in Lending Act just like other forms of student loans.