Organization Root Tag

The Biden administration plans to select Kristin Johnson, a law professor who previously worked on Wall Street, for a Democratic seat on the Commodity Futures Trading Commission, according to a person familiar with the matter.

“As the CEO of one of America’s largest banks, Richard Fairbank repeatedly broke the law,” the acting director of the FTC’s Bureau of Competition said.

Banks in Louisiana and Mississippi are finding less physical branch damage than many expected. Executives say the pace of the recovery will hinge on how quickly power and water are restored, as well as the cost of supplies and labor.

The agency proposed reporting standards for any institution that originates 25 or more small-business loans a year. The measure would be especially burdensome for very small lenders and could limit credit access in underserved communities, critics say.

The White House and the Federal Housing Finance Agency announced steps to help nonprofits and public agencies buy foreclosed properties, among other initiatives, as part of a plan to boost supply over the next three years.

The banking industry is now enjoying a "strong" reputation overall, after building on gains made at the height of the pandemic. Here's who stood out and why.

Climate activists broke windows at JPMorgan Chase offices in central London Wednesday as part of two weeks of protests against organizations that support fossil fuels. 

A predecessor bank, Allegiant Bancorp of St. Louis, was accused of fraud and breach of fiduciary duty in connection with a scheme run by a seller of funeral contracts.

The Office of the Comptroller of the Currency is seeking nearly $19 million from David Julian, Claudia Russ Anderson and Paul McLinko. The trial before an administrative judge is scheduled to begin in South Dakota on Sept. 13.

Five years into scandals that have already cost Wells Fargo more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls.

Adrienne Harris, who did stints at the Treasury Department and National Economic Council during the Obama administration, would succeed Linda Lacewell as superintendent of the state's Department of Financial Services.

The Federal Deposit Insurance Corp. is soliciting feedback on banks' experiences with remote exams during the pandemic. Some welcome the review as a step toward a more modern examination system, while others contend the last year and a half exposed the drawbacks of long-distance oversight.

The Chicago subprime lender had previously warned that regulators were investigating its military lending practices. Its stock price rose by about 9% after the disclosure that the probe has wrapped up.

There's still a month left in the federal government's fiscal year, and the Small Business Administration's 504 program is perilously close to hitting its congressionally mandated funding limit for new loans.

Many insiders are wondering about a contingent of senior executives who oversee some of the pillars of the Wall Street powerhouse that Tom Montag helped build: dealmaking, trading and commercial banking.

The e-commerce giant will partner with Affirm to offer installment payments as point-of-sale credit becomes increasingly popular as a finance option.

Federal Reserve Gov. Lael Brainard spoke with the Biden-Harris Federal Reserve transition team in January and with the president’s Council of Economic Advisers in May, her calendar shows.

The Federal Housing Finance Agency in the Trump administration had been preoccupied with Fannie Mae and Freddie Mac’s capital position. Acting Director Sandra Thompson has shifted the agency’s focus to affordable housing and fair lending.

Consumer advocates have long wanted to restrict banks' ability to collect overdraft fees. The Empire State's new law represents a small but consequential breakthrough as they push for nationwide reform.

Chief Operating Officer Thomas Montag and Vice Chairman Anne Finucane will step down at the end of the year. The company said it will unveil succession plans in the coming weeks.