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Bank of America on where its AI hopes (and worries) lie; Zelle founder Paul Finch announces his leave from the payments network; the one area where banks and fintechs want more regulation; and more from this week's most-read stories.
May 18 -
Jelena McWilliams is expected to be easily approved by the full Senate when her nomination as FDIC chair comes up for a vote.
May 17 -
News that Wells commercial banking employees improperly altered client documents will likely embolden the most vocal critics of
CEO Tim Sloan, who they say can't seem to resolve Wells' lingering problems.May 17 -
Mick Mulvaney’s recent comments about the CFPB Qualified Mortgage rule have triggered a debate over whether regulators should take into account more than one underwriting model.
May 17 -
The soon-to-be-retiring chair of the House Financial Services Committee said Senate leaders have made a "commitment" to consider more changes.
May 17 -
It's too late for Congress to overturn the consumer bureau's regulation on short-term lending, but acting Director Mick Mulvaney will have plenty of chances to reshape it.
May 16
American Banker -
Acting CFPB Director Mick Mulvaney has dropped agency plans to crack down on overdraft programs and large marketplace lenders. Here's what else he's changing.
May 16 -
The Federal Reserve should think about dialing back its demand that foreign banks in the U.S. have an especially amplified ability to absorb losses, Vice Chairman Randal Quarles said at a Wednesday conference.
May 16 -
After months of delay, the House is planning to vote on legislation next week that would amend the Dodd-Frank Act.
May 15 -
Acting CFPB Director Mick Mulvaney suggested that digital mortgages should be held to different standards than ones originated by credit unions and banks.
May 15 -
During JPMorgan Chase's shareholder meeting Tuesday, Chairman and CEO Jamie Dimon faced criticism from the left and right about its investments in companies with ties to genocide and a donation it made to a well-known civil rights group. It's a spot other CEOs have found themselves in lately.
May 15 -
A pair of nominees to the Federal Reserve Board vowed Tuesday to protect the independence of the agency if confirmed, but avoided taking hard stances on pending regulatory issues.
May 15 -
The proposed change would give banks more leeway in making trades and put more onus on regulators to challenge their judgments, sources said.
May 15 -
Freelance payment companies are taking advantage of the Trump administration's immigration policies, which are starting to drive more work to freelancers in the U.S. and overseas.
May 15 -
The Fed and FDIC are at odds over how proposed changes to the supplemental leverage ratio would change megabanks’ capital levels. Here's why both estimates are right but misleading.
May 14 -
Artificial intelligence will reshape the job landscape at banks; people still want to open accounts at a branch; Mick Mulvaney stacks CFPB bench with political appointees; and more from this week's most-read stories.
May 11 -
Fed Chair Jerome Powell said Thursday that the central bank's board of governors will take a vote before Wells Fargo is ultimately released from its growth restriction mandate, a decision that had previously been left up to staff.
May 11 -
Several credit union and bank groups have formed a rare united front in letters opposing the Trump administration's rescission package.
May 11 -
The misplaced criticism of the media may be a sign that Wells Fargo CEO Tim Sloan still doesn't recognize the true extent of the bank’s problems.
May 11
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The union representing employees at the CFPB is already fighting acting Director Mick Mulvaney's efforts to restructure the agency, and readying for a potentially larger conflict as rumors of layoffs swirl.
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