Politics and policy
Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.
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Changes that began at individual banks in 2021 gained steam this year, as many large and midsize banks reduced their reliance on overdraft-related charges. Federal and state policymakers were key catalysts of the sea change.
December 19 -
The House of Representatives adopted a defense authorization bill that includes a measure to make it easier for entry-level employees with criminal records to join a bank. Meanwhile, the Senate omitted a pot banking provision from its version of the must-pass spending legislation.
December 8
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Most theories of the case for ESG investing demand that companies act in ways that are counter to the interests of their shareholders.
December 5 -
Banks are developing technology to identify potential mass shooters, according to a CEO backing the push to get credit card companies to track gun purchases more closely.
November 30 -
The three megabanks will see their surcharges rise by 50 basis points, according to a new analysis of regulatory data. The Federal Reserve assesses the levies as a way to compensate for the impact that the collapse of a global systemically important bank would have on the financial system.
November 28 -
Citi was the only bank cited in the agencies' biennial review of living wills for the eight largest U.S. banks.
November 23 -
In the House of Representatives, Rep. Patrick McHenry wants to push regulators and bank CEOs on their ESG investments, but the real action is happening at the state level.
November 22 -
The growing anti-ESG backlash from Republican lawmakers may please the base, but as a practical policy it creates far more problems than it solves.
November 22 -
If a $6.3 billion subsidy only generates a $304 million return in terms of housing and community development support, is that money well spent?
November 21
