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The agency's lawsuit against the Rhode Island company — the first involving a bank under Director Kathy Kraninger — has challenged assumptions about its approach to enforcement.
February 9
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M&T hires Aarthi Murali away from JPMorgan Chase as its customer experience chief; when a small town loses its only bank; why more banks are ditching their legacy core vendors; and more from this week’s most-read stories.
February 7
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Gavin Newsom's proposal to create a consumer watchdog modeled after the CFPB includes a provision that would make it easier for upstart financial firms to obtain industrial loan charters.
February 7
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Breaking into the POS credit market is nearly impossible for payment companies without cooperation, says Jifiti's Nufar Segal.
February 7
Jifiti -
Yes, bots are taking the routine calls from business cardholders, but make no mistake — these are demanding clients from around the world who phone in from loud airports, on bad connections and speak with heavy accents.
February 7
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Tidjane Thiam submits his resignation; the two agencies said they will soon start accepting mortgages tied to the new rate and drop Libor by yearend.
February 7 -
A new report from J.D. Power found that younger consumers increasingly believe the largest banks are better than regionals in providing financial guidance through digital channels.
February 6
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The Federal Reserve on Thursday released the 2020 stress testing scenarios that it will use to evaluate the safety and soundness of 34 banks with more than $100 billion of total assets.
February 6
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Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.
February 6
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Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.
February 6
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JPMorgan Chase is staking its consumer-banking strategy on digital technology. In 2020, that push will be spearheaded by a new team of executives.
February 6
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A new report from PSCU shows increases in spending levels and transaction volumes, along with a surge in mobile wallet usage during the holiday shopping season..
February 6
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Wirecard has teamed with wirecube, an Austrian software maker of digital retail checkout technology, to pilot cashierless checkout targeting travelers in Munich’s airport.
February 6 -
Michael Cleary will report to Scott Powell, who had been his boss at Santander Bank.
February 6
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In a letter to CFPB Director Kathy Kraninger, the Democratic senators argue that task force members cannot be trusted to protect consumers because they have represented payday lenders or Wall Street banks, or worked at law firms that did so.
February 6
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Visa typically adjusts its interchange rates every April and October, but this year it is getting an atypically strong response.
February 6
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Cybersecurity experts said the trade group's description of the event bears the hallmarks of a ransomware attack, which CUNA subsequently confirmed.
February 6
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A new religion swept Wall Street after the 2008 crisis: Pay executives with stock, make them wait to collect it, and there will be fewer problems. Now a generation of executives retiring from Wells Fargo is experiencing what can happen to those payouts when new scandals arise.
February 6 -
The payments company is working with nonprofit organizations, law enforcement authorities, victims and others to make it harder for the criminals behind the modern slave trade to move money.
February 6
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Think Finance, which had teamed with tribal lenders to offer high interest installment loans, could no longer make or collect on loans in states that have caps on interest rates, under terms of a proposed settlement with the Consumer Financial Protection Bureau.
February 6
