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BB&T-SunTrust deal came together with remarkable speed; Citi and Chase take on fintechs at their own game; CECL spells trouble for small banks, consumers; and more from this week’s most-read stories.
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PricewaterhouseCoopers settled a lawsuit in which the FDIC accused it of negligence in its role as external auditor for Colonial Bank. But FDIC board member Martin Gruenberg objected because the firm did not accept blame.
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From serving up a festive Polish dish to pairing veterans with service dogs, these credit unions are active in their communities.
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CULedger and the computing giant will work to develop blockchain technologies, create new products and improve existing ones.
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Industry lawyers say the agency’s decision could have implications for other bankers looking to change jobs.
March 15 -
If the United Kingdom leaves the EU without a deal, certain contracts held by U.S. entities and relocated outside the U.K. will not face new margin requirements.
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Federal regulators normally hesitate even to name specific institutions, but the Office of the Comptroller of the Currency appears to be taking a different tack with Wells.
March 15 -
Nacha's request to the Fed to extend submission times for its Same-Day ACH network was far from routine for two organizations that had worked together for decades.
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HSBC's new head of global markets is encouraging a speak-up culture, months after his predecessor left the bank amid a misconduct claim from a junior female employee.
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Wells Fargo's leaders have repeatedly assured the public its aggressive sales culture is gone after quotas led workers to foist unwanted products on clients. Now another problem is festering: low productivity.
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The Conference of State Bank Supervisors urged Sens. Mike Crapo and Sherrod Brown to establish a baseline for consumer protection in data privacy and security that would leave room for stricter state rules.
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The Senate Banking Committee will hold two hearings at the end of March on Chairman Mike Crapo’s most recent framework for housing finance reform.
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A proactive and preventive security strategy will go a long way to building consumer trust and ensuring continued loyalty, writes Maria Allen, global head of financial services for Unisys.
March 15
Unisys -
A partnership between TDECU and a Texas-based fintech will help provide payment plans for consumers struggling to pay legal fees.
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With regulators and policymakers studying their every move, financial institutions need to put more focus on preventing mistakes in the first place.
March 15
Ludwig Advisors -
The California banking company has two loans tied to DC Solar that are on nonaccrual status.
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Joseph Nowland will take over at the Jacksonville, Fla.-based institution after Gerri Sexsion retires later this month.
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The 65 people laid off in late February is only the beginning, report says; Bank of America CEO also tackles mortgages, the economy and gender issues.
March 15 -
The U.S. is considering sanctions that would effectively prohibit Visa Inc., Mastercard Inc. and other financial institutions from processing transactions in Venezuela, an administration official said, a step aimed at cutting off funds to Nicolas Maduro’s regime.
March 15 -
Mark Karpeles, a central figure in the early days of Bitcoin who presided over the dramatic 2014 collapse of the world’s biggest cryptocurrency exchange, was found guilty of tampering with financial records but will likely avoid jail time after receiving a suspended sentence.
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