Organization Root Tag

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.

Regulators and the Biden administration are considering how to respond to the sharp growth in digital assets pegged to fiat currency. Their options include establishing rules like those for bank deposits and having the Federal Reserve issue a digital dollar that competes with private-sector stablecoins.

David Marcus, Facebook's financial services chief, discusses how its Novi digital wallet and the Diem stablecoin project it's involved in can be the backbone of a platform that offers real-time digital transactions, acts as a merchant acquirer and helps commercial banks handle central bank digital currencies.

Mary Daly called for new partnerships among fintechs, banks and community groups aimed at improving long-standing inequities in the financial system.

The U.S.’s measured approach will allow it to learn from other countries that are pioneering their own cryptocurrencies, according to executives from IBM, R3 and Public Mint.

Infrastructure will command most of lawmakers’ attention, but expect banks to keep pushing for bills that would ease the transition away from a key benchmark rate and help them serve legal cannabis businesses.

The more stringent safety measures, announced to staff on Tuesday, signal escalating caution at Goldman, which greeted the return of employees in June with live music and food trucks.

JPMorgan Chase executed a novel trade-finance transaction tied to the CME Group’s forward rates for the Secured Overnight Financing Rate, marking an advancement in the use of the Libor replacement.

The Federal Reserve has been circumspect about whether it will issue its own digital currency. Observers are looking to an upcoming report by the central bank for clarity about its intentions and how a digital dollar would work with private stablecoins.