Organization Root Tag

The next step for retailers is to bring consumers the benefits and experience of being in store, from the comfort of their home, says FIS' Dan Brames.

Deutsche Bank must be ready for possible acquisitions once consolidation in European banking accelerates, CEO Christian Sewing said, the clearest hint yet that he’s considering deals again halfway through his four-year turnaround program.

Setting a tougher tone than Trump-era regulators, acting Comptroller of the Currency Michael Hsu warned against excessive risk-taking during the economic recovery and called for better interagency coordination on fintech standards.

Peeyush Nahar, who also spent 14 years at Amazon, brings both Big Tech and startup experience to a consumer-banking unit that has lost several senior leaders in recent months and faces challenges common to entrepreneurial divisions within large organizations.

Mortgage lenders have much riding on a yearslong effort to overhaul a program that requires homeowners to hold policies in flood-prone areas. A congressional panel meeting to discuss the issue was once again split between lawmakers from storm-threatened states and those concerned about government costs.

The agency said it will reconsider the controversial regulation to reform the Community Reinvestment Act, and allow banks to halt efforts to comply with key provisions of the framework.

Share buyback programs, shelved by many banks last year amid pressure from regulators to preserve capital, are back in vogue, with three dozen banks announcing such plans in April alone.

The move follows four years of pay increases that brought the company’s minimum wage to an hourly $20 in 2020 from $15.

The consumer and community banking unit of the nation's largest bank will be run by Jennifer Piepszak and Marianne Lake, two would-be contenders for the CEO role when Jamie Dimon retires. The company also named a new chief financial officer.

Warren Buffett’s Berkshire Hathaway exited a bet on Synchrony Financial during the first quarter as the company continued to pare back its investments in financial firms.

Bank of America is expanding a mortgage program for low- to moderate-income homebuyers in an effort to address racial wealth gaps.

After much anticipation, the Federal Reserve last year finally joined the Network for Greening the Financial System, which develops regulatory best practices for combating climate risks. But all U.S. banking regulators must participate for the effort to succeed, some observers argue.

The agency issued a request for information to gather feedback about how institutions facilitate use of cryptocurrencies and other kinds of assets, and what factors regulators should weigh as they develop supervisory policies.

DMB Financial, a debt-settlement firm near Boston that operates in 24 states, agreed to pay $5.4 million in restitution to consumers for allegedly charging upfront fees before providing any service, the CFPB said.

The U.S. arm of Mitsubishi UFJ Financial Group has hired nine bankers away from Wells Fargo in an effort to expand its restaurant finance group. The lender focused on the fast-casual and quick-serve segments during the pandemic and anticipates growth in that sector.

Financial institutions said they needed more time to weigh in on issues such as how they use artificial intelligence for fraud prevention and underwriting.

During the pandemic-induced lockdowns, the Federal Reserve loosened a rule requiring banks to cap certain savings withdrawals at six per month. Some banks have since dropped ceilings and associated fees, while others have stood pat.

American Express has created a path for PayPal to immediately accept digital versions of consumer credit cards as soon as the cards are approved.

The company said it will increase access to affordable products, expand financial-education offerings and launch a National Unbanked Advisory Task Force.

Not only is the payment process an opportunity to deliver on a good customer experience, but it also offers the opportunity to enhance the overall experience, says Global Payments Integrated's Ashley Jones.