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Wells Fargo makes a $1.5 million investment in Black entrepreneurship; America Express promotes small businesses through augmented reality; shareholders approve the Banc of California-PacWest merger; and more in the weekly banking news roundup.
November 22
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Record-high rates and the questionable future of credit performance put pressure on fintechs whose bread and butter was lending to low- and moderate-income folks.
November 22
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The number of women CEOs at top-50 banks will soon fall to one with the departure of Kelly Coffey from the top job at City National Bank. The recent trend line shines a light on the industry's shallow bench of women in C-suite roles.
November 22
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While bipartisan concerns have been raised about workplace abuse at the Federal Deposit Insurance Corp., experts say Chair Martin Gruenberg is unlikely to bow to calls for his resignation in part to protect the agency's regulatory agenda. But that could change if those calls become more stringent and bipartisan.
November 22
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Dream Chasers upped its bid for Carver, one of the nation's largest and highest-profile Black banks, by a quarter, to $3.25 per share, dismissing the growth strategy interim CEO Craig MacKay outlined in a recent shareholder letter.
November 22
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Brian Johnson is a managing director with Patomak Global Partners. He is a former deputy director of the Consumer Financial Protection Bureau.
November 22
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Jeb Hensarling is a former chairman of the House Financial Services Committee (2013-2019) and an advisory council member to Americans for Prosperity.
November 22
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Bankers and others now will get until Jan. 16 to weigh in on a proposal that would require more large banks to hold long-term debt. Regulators say they wanted to give the public more time to thoroughly assess its implications.
November 22
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Even if the 30-year fixed were to slip further to 6.4%, it is not enough to end the seller's strike, economists said.
November 22
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Canada's government is preparing legislation to promote open banking development, Mastercard has gained approval to process payments in China, and more.
November 22
