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Banks that are financing the rise of nonbank competitors have been losing market share in commercial lending. But by getting in on the action, the same banks are also seeing some payoff.
The Senate voted to confirm Federal Reserve Gov. Michelle Bowman's nomination to be the vice chair for supervision at the central bank in a 48-46 party-line vote.
The first-of-its-kind growth restriction established a new precedent for how regulators can address a broken bank culture. With scant information about why the cap was lifted, the action provides little clarity on what Wells did right — or what the Fed did wrong.
The 5-year-old experiment of tying executive compensation to achieving diversity goals appears to be ending. The abrupt shift comes amid the Trump administration's crackdown on DEI.
Freedom Bank is rolling out Freedom@Work, which offers perks for employees of participating companies, as part of a wider strategy to attract more consumer deposits.
The card network behemoths and the London-based bank are looking to expand account-to-account payments through fresh partnerships and investments. Plus: President Trump withdraws Shift4 CEO's NASA nomination, and tokenized payments gain steam in Europe in this week's global payments roundup.
