Organization Root Tag

The central bank wants to adopt new rules to state clearly that merchants must have a choice of debit networks for card-not-present transactions.

Now that Western Union has begun its deployment at the big-box retailer, where MoneyGram has long had a presence, the incumbent is watching for signs of pricing pressure.

Cryptocurrency rally enabled the company's Cash App to generate the bulk of its revenue.

Fannie and Freddie's regulator says the companies must comply with the new Qualified Mortgage standard by the summer, while the Consumer Financial Protection Bureau has extended the deadline to 2022. The conflicting timetables have stoked uncertainty in the market.

The Treasury Department announced that Michael Hsu, a senior official at the Federal Reserve, would lead the national bank regulator until a Senate-confirmed comptroller is in place.

JPMorgan Chase was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister.

The banks disclosed this week that they are under scrutiny for conduct that may have harmed consumers. The timing raises questions about whether the Consumer Financial Protection Bureau under President Biden is poised to bring more enforcement actions against large banks than it did under Trump-appointed Director Kathy Kraninger.

Critics say the regulation issued by the Office of the Comptroller Currency is a gift to predatory lenders. But the trade organizations warned lawmakers that invalidating it will make it difficult for the agency to create an improved framework in the future.

Cryptocurrency rally enabled the company's Cash App to generate the bulk of its revenue.

The probe is the latest example of the consumer bureau scrutinizing sales tactics at big banks following the Wells Fargo fake-accounts scandal. U.S. Bancorp said it is cooperating fully.

Wall Street firms have urged the Biden administration to ease the industry’s burden in complying with a flood of financial sanctions the U.S. has levied in recent years as a primary tool of foreign policy toward Russia, China, Iran and other adversaries.

Organizations representing banks and other financial services firms said implementing the Office of the Comptroller of the Currency's overhaul of the Community Reinvestment Act could be wasteful as regulators discuss a new interagency plan to modernize the law.

The Biden administration may finally be close to naming an acting comptroller of the currency. Whoever gets the interim job or is confirmed to run the agency over the longer term will have a lengthy to-do list, from Community Reinvestment Act reform to deciding the fate of divisive Trump-era rules.

Many younger people are looking for financing and are averse to traditional credit cards, says Four's Chaim Lever.

Gage is essentially charged with implementing executives’ vision into practical changes at the Dallas-based company.

Younger is an executive director on BBVA's loan syndication team.

At the brokerage and wealth management arm of Ally Financial, Bell leads the team responsible for shaping the insight on investing and the global markets that is shared with customers.

Stubbs moved from Ohio to Texas last year to open PNC's first customer care center in the Lone Star State. Then the pandemic hit.

Garrison was promoted to head of human resources operations in October 2019, putting her at the forefront of the bank’s effort to respond to the pandemic.

“If I see something that needs to be fixed, I tend to just gravitate toward it,” said Ratliff, U.S. Bank's head of disputes and prepaid operations.