© 2025 Arizent. All rights reserved.
top-ten-042718.jpg
In addition to changing the name of the Consumer Financial Protection Bureau, the acting director wants to also nix public complaints; the good, bad and ugly in Zelle's ascendance; a case study for digital outage recovery; and more from this week's most-read stories.
Acting CFPB Director Mick Mulvaney
Mick Mulvaney, director of the Office of Management and Budget (OMB), listens during a Senate Budget Committee hearing in Washington, D.C., U.S., on Tuesday, Feb. 13, 2018. Mulvaney discussed the $4.4 trillion federal budget plan that would slash entitlements and other domestic programs in favor of higher spending on the military and immigration enforcement. Photographer: Zach Gibson/Bloomberg
Zach Gibson/Bloomberg

Mulvaney to drop public complaints against firms, change CFPB name

Acting Consumer Financial Protection Bureau Director Mick Mulvaney announced a trio of significant changes to the CFPB.

(Full story here.)
Zelda's transaction volume for 2016 and 2017, compare to Venmo

Zelle's bumpy ride toward ubiquity

Banks using Zelle share the good, the bad and the indifferent of the person-to-person payment network.

(Full story here.)
A BB&T branch.
Signage is displayed outside a BB&T Corp. bank branch in Louisville, Kentucky, U.S., on Tuesday, Jan. 17, 2017. BB&T Corp. is scheduled to release earning figures on January 19. Photographer: Luke Sharrett/Bloomberg
Luke Sharrett/Bloomberg

What other banks can learn from BB&T's glitch

Several banks have reported digital service outages this year, but now there's a detailed breakdown of one of them — and it shows that the damage goes far beyond reputation.

(Full story here.)
Blockchain tests. April 2018.

Spinoff rumors or not, JPMorgan Chase's blockchain unit is evolving

JPMorgan Chase is sending signals that its homegrown blockchain, Quorum, is alive and well despite a recent shake-up.

(Full story here.)
SunTrust branch
SunTrust Banks Inc. signage hangs above an automated teller machine (ATM) at a branch in Washington, D.C., U.S., on Tuesday, Nov. 11, 2014. SunTrust Banks Inc. announced plans in Aug. to hire as many as 200 people for its investment bank to expand businesses including capital markets and stock research and add expertise targeting the energy and health-care industries. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg

Former SunTrust employee said to have stolen customer data

The news of the data breach cast a shadow over relatively strong first-quarter earnings for the Atlanta bank.

(Full story here.)
Acting CFPB Director Mick Mulvaney
Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB ), listens during a Senate Banking, Housing & Urban Affairs Committee hearing in Washington, D.C., U.S., on Thursday, April 12, 2018. Senator Elizabeth Warren clashed with Mulvaney, accusing the former GOP congressman of putting politics ahead of protecting consumers. Photographer: Toya Sarno Jordan/Bloomberg
Toya Jordan Sarno/Bloomberg

Mulvaney response to CFPB data security gaps baffles cyber experts

The agency's acting chief said hundreds of data breaches justified a halt on collecting information from firms, but experts question that logic.

(Full story here.)
Senator Kirsten Gillibrand, a Democrat from New York
Senator Kirsten Gillibrand, a Democrat from New York, speaks during a news conference unveiling bipartisan legislation to prevent sexual harassment in the workplace on Capitol Hill in Washington, D.C., U.S., on Wednesday, Dec. 6, 2017. Seven female U.S. senators called on fellow Democrat Al Franken to resign Wednesday following allegations, and his admission in at least one case, that he groped or sexually harassed women. His office said he will make an announcement on Thursday. Photographer: Zach Gibson/Bloomberg
Zach Gibson/Bloomberg
Gillibrand aims to 'wipe out' payday lenders with postal banking bill
The New York senator offers legislation to empower U.S. post offices to take deposits and make loans.

(Full story here.)
AB-042418-WELLS (2).png

'Wells Fargo, you're the worst': Scenes from testy annual meeting

CEO Tim Sloan and board chair Elizabeth Duke fielded tough questions Tuesday on everything from the embattled bank's culture to its ties to the private prison industry.

(Full story here.)
AB-042418-CUPART1.png

Do credit unions still warrant a tax exemption?

A bombshell letter from a prominent senator and a court ruling criticizing credit unions' interpretation of "field of membership" have bankers hopeful that Congress may finally be willing to examine the public-policy purpose of the Depression-era tax break.

(Full story here.)
Sen. Sherrod Brown, D-Ohio
Senator Sherrod Brown, a Democrat from Ohio and ranking member of the Senate Banking Committee, questions witnesses during a confirmation hearing with Marvin Goodfriend, governor of the Federal Reserve nominee for U.S. President Donald Trump, not pictured, in Washington, D.C., U.S., on Tuesday, Jan. 23, 2018. Goodfriend said he hoped to keep the U.S. central bank alert to future challenges while increasing transparency and accountability. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg

CFPB's Mulvaney gives unexpected gift to Democrats

Critics of the acting CFPB director have a new line of attack as he takes fire for remarks made at an industry conference earlier this week.

(Full story here.)
P-to-P payments Blockchain Data breaches Credit unions Mick Mulvaney CFPB News & Analysis BB&T Wells Fargo SunTrust
MORE FROM AMERICAN BANKER