Banco Popular de Puerto Rico

The changes include lower loan minimums and fatter fees for lenders; while electronic payments help most providers, banks and lenders who need credit income could face growth challenges.

Anand Selva will succeed incoming CEO Jane Fraser in her former role; the bank said Brad Hu is leaving on his own terms but his department has been under fire from regulators.

The last-minute suspension appears to be a move by Chinese regulators to trim Jack Ma’s sails; the penalty, reportedly from the OCC, would address “historical deficiencies” at the bank.

Bank shares fell about 5% on concerns that the election results militate against more government stimulus; even U.S. regulators need to address the differences between fintechs and banks.

The agency said the proposed $5.3 billion deal would stifle future competition in the payments industry; following a good third quarter, European banks still face lots of challenges.

The new administration’s first move in financial services is likely to be a tougher CFPB; institutions look to boost corporate deposits in order to increase customer access to capital.

The plan would make it easier for companies to raise money in London versus Wall Street; an early and effective Covid-19 vaccine would likely provide banks with a quick and large windfall.

The group includes many advocates for stricter bank regulation from the Obama administration; the president-elect may have as many as three open seats on the central bank or as few as none.

The growing number of defaults is raising concerns that banks will tighten credit, making a bad situation worse; most of the 500 members are academics and Obama White House staffers.

A procedural move by Mitch McConnell sets up a full Senate vote as early as next week; the class is the smallest in two decades, and white men make up the smallest percentage ever.