Organization Root Tag

Underpinning the technology with mathematically sound models can make a better case to consumers and regulators for why a loan applicant was denied.

The consumer bureau said the bank’s migration to a new servicing platform led to unauthorized payment withdrawals, misrepresentations about what borrowers owed and violations of a prior 2015 enforcement action.

Bank of America’s chairman of global corporate and investment banking, Anne Clarke Wolff, is leaving the firm.

Rosemary Vrablic, who worked in the private banking division, helped manage Trump’s relationship with the bank as it lent hundreds of millions of dollars of loans to Trump’s company over a number of years.

The Federal Reserve and the New York State Department of Financial Services have ordered the Swiss bank’s U.S. arm to improve oversight and better monitor the activities of its customers.

Congress’s passage of a measure requiring startup companies — instead of their banks — to identify true owners was arguably the industry’s biggest legislative achievement in 2020. Now the industry is urging lawmakers to revisit proposals that would ease other anti-money-laundering reporting requirements.

The simplest of mechanisms, having evolved over time, has now become a trending solution, a beacon of a brighter time and an essential service provider in an hour of need, says PPS' Tessa Unsworth.

The company did not disclose the nature of the suit, but CEO Brad Garlinghouse has long disputed the Securities and Exchange Commission's claim that XRP is a security, not a currency.

Data that mimics the original set is part of coronavirus vaccine trials, and also has ramifications for mapping financial services metrics, says Aite's Ginger Schmeltzer.

The bank's release from a five-year-old enforcement action would mark progress in CEO Charlie Scharf's efforts to resolve its sprawling regulatory problems. But 10 more consent orders, including an asset cap imposed by the Federal Reserve in 2018, remain in place.

Sarah Canepa Bang will serve as a senior advisor to the agency's vice chairman. Separately, a 27-year veteran of the regulator announced plans to retire.

Citigroup promoted 70 women in its latest class of managing directors, the most ever but still less than a third of the total.

The pandemic has forced Bank of America, Chase, PCSB and other banks to find new ways to maintain connections with their customers and communities.

The Pennsylvania senator, who will chair the Banking Committee if Republicans hold their majority, agreed to modify an amendment restricting the Federal Reserve’s emergency powers that Democrats had criticized as too extreme.

Win or lose, Citibank’s battle to recover half a billion dollars from an accidental payment is sure to prompt a review of internal controls in the industry and could have a lasting impact on the more than $1 trillion syndicated loan market.

Even with the pandemic's dramatic shift to online commerce, TIAA Bank's Claudia Tabacinic says there's still room to migrate consumers, and lingering reluctance to embrace new technology.

A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up.

The $10 billion portfolio of what are described as high-quality private student loans will be serviced by Nelnet.

This is the first time the agency has had a vice chairman since 2014.

The Federal Reserve's “midcycle” assessment — conducted in light of the COVID-19 pandemic — said the path of the economic recovery is still uncertain even though the banks that were evaluated maintained adequate capital levels under hypothetical scenarios.