Organization Root Tag

As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone involved, including data aggregators and fintechs.

Some nominees poised to take their agencies in a new direction appear headed for Senate confirmation while an intraparty squabble has delayed the administration’s choice to lead the Office of the Comptroller of the Currency. Here’s the roster update.

Comerica, Regions and KeyCorp executives say their companies will proceed with caution despite the green light from the Federal Reserve to buy back stock in case they have to cover a surge in loan growth as the economy recovers.

The American Bankers Association has requested more time to respond to a proposal that would expand lending authority for credit union service organizations.

Citigroup’s general counsel, Rohan Weerasinghe, told the bank that he will retire by the end of the year after almost a decade in the role.

Community banks with meager tech budgets need help identifying the right systems for institutions their size and finding good partners, says Sultan Meghji, who recently joined the Federal Deposit Insurance Corp. in this newly created role.

The option to transact using Chase Pay will be removed from all merchant websites and apps by the end of the month.

Adtalem Global Education CEO Lisa W. Wardell has been elected to join the American Express board of directors and will join the board’s risk committee.

Michael Barr, an Obama-era Treasury Department official, is no longer expected to be nominated to lead a regulator that oversees Wall Street’s biggest banks, according to people familiar with the matter.

The acquisition of Golden Pacific Bank will accelerate the online lender’s effort to become a full-service bank.

Shortly after hearing a Securities and Exchange Commission suit against Ripple caused MoneyGram to step back from its collaboration with the blockchain company, Ripple says the partnership is fully severed.

The bank also committed to finance $500 billion in sustainable businesses and projects by 2030.

Goldman Sachs is evaluating what to do with about $29 billion of debt and preferred stock it issued that’s pegged to dollar Libor and doesn’t mature until after the discredited benchmark expires in mid-2023.

The comments by Federal Deposit Insurance Corp. Chair Jelena McWilliams published in Politico reinforce optimism that the banking agencies could settle years of disagreement about modernizing the Community Reinvestment Act.

The industry saw deposits rise by nearly 20% last year, in part due to economic stimulus measures from the government. More of the same could be coming once President Biden signs the latest stimulus bill into law.

Nonbanks had worried the end of the Paycheck Protection Program Liquidity Facility would hurt their ability to lend to small businesses. On Monday, the Federal Reserve announced the facility would be extended for three months.

PayPal Holdings Inc. said it will acquire the cryptocurrency firm Curv as it seeks to beef up its talent pool for handling digital currencies.

For too long, the Consumer Financial Protection Bureau's rulemaking process has been informed by its director's political affiliation. The next leader must keep the agency focused on its mission: protecting consumers.

Lending slowed, credit allowances mounted and return on assets as well as other performance ratios weakened, according to year-end figures from the credit union regulator.

The big box retailer is streamlining the way it integrates third-party sellers across multiple channels.