Organization Root Tag

Nearly eight months of the Biden administration have gone by without a word from the White House on a nominee to lead the Office of the Comptroller of the Currency. Here are some of the candidates who have been in (and in some cases fallen out of) the running.

M&T in New York, which is seeking regulatory approval to buy People’s United Financial, recently disclosed plans for around 1,000 layoffs. The backlash — focused on job cuts in the seller’s hometown of Bridgeport — has been stronger than in other recent deals.

Financial Services Superintendent Linda Lacewell said she will step down Aug. 24, the same day Gov. Andrew Cuomo plans to leave following a sexual harassment investigation. The state’s attorney general found that Lacewell helped with the governor’s public relations response to the allegations.

The agency asked bankers to reflect on their experience with virtual monitoring over the past year amid speculation that the pandemic could speed a full conversion to off-site supervision.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.

Climate activists are starting to map out a coordinated campaign to oppose the potential renomination of Federal Reserve Chair Jerome Powell, because they view his record on fighting climate change through the banking system as scant and not aggressive enough.

This year's assessment for Fannie Mae and Freddie Mac is the first to take into account a January agreement between the Federal Housing Finance Agency and the Treasury Department that allowed the companies to retain more earnings.

The guarantor of mortgage-backed securities has been without a Senate-confirmed president for four and a half years. The vacancy makes it difficult for other government agencies to coordinate housing objectives, according to stakeholders.

The bank’s decision to offer home improvement loans directly will not have a material impact on profits at the Atlanta-based fintech, according to GreenSky.

The deal will help the bank serve small-business customers that are shifting to digital payments.

The agency developed measures taking effect Aug. 31 that, among other things, will allow lenders to prioritize foreclosures of the most impaired loans and then focus on modifying salvageable ones.

The Federal Financial Institutions Examination Council says bank accounts and information systems have become more vulnerable as mobile and other technologies have expanded. It issued guidelines on detailed steps financial institutions should take to heighten security.

The announcement came a day after Citigroup said it would mandate vaccines for many of its workers. Capital One also said it is delaying its office reopening.

Moore Capital Holdings alleges that TD showed a “total and systemic failure” to respond to a cyber scam that cost the company more than $275,000.

It may seem odd that Citigroup has created an online lending platform that matches small businesses with minority-run and other banks for no financial benefit. Yet company executives and observers say it makes sense.

The e-commerce giant is adding a surcharge for Visa credit card payments in Singapore. It's a tactic reminiscent of the time its big-box rival outright banned the card brand in Thunder Bay, Ontario, in a bid to lower its costs.

The Boston-based cryptocurrency firm says it would welcome the tough oversight that comes with being a bank. Yet Biden-era regulators have shown apprehension about granting approvals to digital-asset firms.

The acquisition of Florida-based Service Finance Co. would expand the North Carolina bank’s presence in the point-of-sale lending business.

The combination of American Express and its fintech subsidiary Kabbage is starting to bear fruit at an opportune time, as credit card companies increasingly expand their range of products to boost revenue.

Steven Black was a board member of BNY Mellon when Wells CEO Charlie Scharf led the trust bank. He will become Wells Fargo’s fifth chairman in five years.