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Sandro DiNello, who briefly led New York Community Bancorp amid turmoil earlier this year, is staying on the company's board. But Joseph Otting, the company's recently installed CEO, is taking on the executive chairman position.
June 4
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The latest appointment comes amid Citi's continued overhaul of its executive ranks and wealth business.
June 4
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The Consumer Financial Protection Bureau said in a new circular that it's still watching for attempts to get borrowers to sign away rights that can't be waived.
June 4
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A proposal from the Consumer Financial Protection Bureau to extend the same protections as credit cards to the fast-growing BNPL industry aims to protect consumers, but it could also stunt the nascent industry's growth, experts say.
June 4
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A recent white paper from former Federal Reserve Gov. Daniel Tarullo suggests that the stress testing regime should be decoupled from bank capital requirements. But if stress testing isn't an effective means of assigning minimum regulatory capital levels, what is?
June 4
American Banker -
Financial Business and Consumer Solutions disclosed a February breach in April and recently disclosed an expanded victim count. The company faces a class action lawsuit.
June 4
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The Indiana bank said it struck a $40 million cash deal to sell its insurance brokerage to the Hilb Group. It joined a growing number of lenders announcing such transactions.
June 4
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Integrating artificial intelligence into banking operations needs to be done with a clear business purpose in mind, and the articulation of that purpose needs to come straight from the top of the organization.
June 4
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The San Francisco fintech's newest product seeks to improve lenders' underwriting decisions by identifying gig-work wages, buy now/pay later loans and other income streams gleaned from bank-account data.
June 4
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Total direct compensation for the CEOs of large and midsize banks declined by 6.6% in 2023, and annual bonus payouts tumbled by 30%. The decreases came as banks grappled with the fallout from last spring's banking crisis.
June 3
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Though Jenius Bank hasn't reached breakeven, it's evidencing solid progress gathering deposits and making loans as it gets ready to celebrate its first birthday.
June 3
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The National Rifle Association bagged a key victory in a case against a former top New York state official. The high court's ruling could make it harder for regulators to discourage financial institutions from doing business with specific industries.
June 3
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The Consumer Financial Protection Bureau Monday completed its rule establishing a nationwide database for a wide swath of financial companies — including payments companies, debt collectors, auto lenders — that have faced regulatory or legal penalties for consumer-related infractions.
June 3
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Trading halts caused by an error affected 40 stocks Monday morning, including BMO Bank and Banco Santander-Chile.
June 3
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A bill to draw crypto's jurisdictional lines between the Securities and Exchange Commission and the Commodity Futures Trading Commission is pitting increasingly crypto-friendly Democrats against consumer protection hawks in the Senate.
June 3
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In this month's roundup of top tech news: A firsthand look at the impact of Zelle fraud, the Supreme Court upholds the Consumer Financial Protection Bureau's funding, Walmart's split from Capital One and more.
June 3
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The technology is adept at working with partial account numbers and other shreds of data to alert banks of ongoing and potential crime, the network contends.
June 3
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Traditional financial institutions have much to gain from collaboration with digital asset natives — and vice versa. It's time to realize that potential.
June 3
