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Daily edition for November 17, 2021

Saule Omarova faces an uphill climb to confirmation as comptroller of the currency over concerns that she supports more government control of the banking system. Her hearing before the Banking Committee could be a make-or-break moment, observers say.

The consumer bureau is asking for comment on whether the rule implementing the Home Mortgage Disclosure Act is meeting its stated goals of detecting discrimination in mortgage lending.

Acquiring the company, which has a namesake savings app, would allow the Silicon Valley lender to accelerate its plan to offer more consumer banking services. The deal comes less than six weeks after Oportun withdrew its application for a bank charter, which it plans to refile.

Tina Dix, the chief executive of OUR Credit Union in Royal Oak, will step aside in July. The $365 million-asset credit union has retained a search firm to find her successor.

Graham Steele, a strong proponent of safeguarding the financial system against climate risks, was approved by a 53-42 vote as assistant secretary for financial institutions at the Treasury Department.

After more than a year of collaboration, the Minneapolis bank is buying the company to enhance its corporate expense and travel management offerings.

Backups at ports have created inventory and cash-flow challenges for many businesses. Bank of the West, Swift, SAP and others are offering customers faster payments services, short-term loans and virtual cards to ease liquidity pressures.

The retired Laurence Bensignor is prohibited from working for “any insured depository institution or any holding company of an insured depository institution” because of his failure to disclose key information about an alleged insider-loan scheme, the Federal Reserve says.

Americans are looking for immediate ways to offset rising costs, rather than saving points for future travel. Cash rewards, which were already growing in popularity, are now even more coveted.

The problems were revealed during recent examinations conducted by the Federal Reserve Bank of New York on the Chinese bank’s U.S. operations.

Lincoln Parks at Heritage Bank in Georgia built from scratch its social media following, a digital-only way to open accounts and (in 48 hours) a Paycheck Protection Program lending system. For these and other efforts, Parks is a runner-up for American Banker’s Digital Banker of the Year.

Ripple Labs, which is locked in a bitter court battle with the U.S. Securities and Exchange Commission, has an unsurprising recommendation for Washington policy makers: limit the regulator’s role in policing cryptocurrencies.

Now that dispersed workforces are expected to be the long-term norm, banks are taking steps to maintain a sense of teamwork and giving managers new training in troubleshooting.

The data aggregator assembled a group of technology companies that has developed a set of security standards for startups. It is open for comment ahead of an anticipated implementation in the second half of next year.

Daily edition for November 16, 2021

Advocates negotiating with the Minneapolis bank also want commitments for mortgage assistance and payouts to financial nonprofits. The pressure for Federal Reserve hearings coincides with Biden administration calls for more scrutiny of big bank mergers.

Patriot National Bancorp was exploring a digital pivot, and American Challenger Development Corp. had been seeking a bank charter in its quest to become open an all-digital bank. They decided it was quicker to join forces.

The $3.6 billion-asset Canvas Credit Union in Lone Tree is combining with the $173 million-asset Western Rockies Federal Credit Union in Grand Junction.