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How the big banks fared in the Fed's latest round of stress testing; what's on new FDIC chair Jelena McWilliams' plate; why banks' biggest risk factor may be employees who don't speak up; and more from this week's most-read stories.
Card version of DFAST 2018 results
Stress test results show hit to capital from tax reform
All 35 banks passed the Federal Reserve's first round of tests, but their results were not as stellar as last year's.

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Jelena McWilliams
Bold FDIC agenda for new chief: ILC decisions, pot banking and more
In her first speech as chairman, Jelena McWilliams signaled a focus on reviewing old policies, speeding up decisions on new bank applications and helping banks navigate marijuana laws.

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From left: Cathy Bessant, Chief Operations and Technology Officer, Bank of America; Michael Corbat, CEO of Citigroup; and Roger Ferguson, CEO of TIAA.
Why banks' biggest risk factor may be employees who don't speak up
Senior leaders may say that they want to hear bad news, but that doesn't mean lower-level employees are eager to share it with them.

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Wells Fargo sign
This is why USAA singled out Wells Fargo for patent infringement
The bank's weakened public reputation makes it a target for additional attacks.

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President Donald Trump
Trump's CFPB choice faces uphill battle — and that's part of the plan
President Trump has yet to formally name Kathy Kraninger as his choice to head the Consumer Financial Protection Bureau, but her nomination is already in trouble. That may be just fine with the White House.

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bar chart showing number of overdrafts by average age of customers.
Mobile banking startups are driving the conversation on overdraft fees
JPMorgan Chase and Wells Fargo are following Silicon Valley's lead by offering new fee-free accounts. While there are risks involved, the cost of doing nothing would be significant, analysts said.

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Andy Rachleff, CEO of Wealthfront (r.) revealed how his firm plans to evolve at CB Insight’s Future of Fintech conference in New York City.
Fintech execs to old-guard banks: Step aside
Big banks and wealth managers are unwilling to sacrifice fee income and make other changes to catch up with their customers' digital demands, fintech leaders said.

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Denver
BOK Financial to buy CoBiz Financial for nearly $1 billion
The deal for the Denver commercial lender joins a growing list of large acquisitions being announced in competitive urban markets.

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Survey of how many large banks have studied or implemented AI
Where is State Street deploying AI? Everywhere
Reconciling accounts, predicting market turns and their effects on portfolios, and even answering client faxes (yes, faxes) can all be done better with artificial intelligence, the custody bank says. Experts describe it as a cutting-edge program.

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J. Mark McWatters
CFPB leadership decision, fintech's future: Five events to watch
From a major CFPB deadline to a long-anticipated fintech report, there's a lot to watch for in the days to come.

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