Commercial banking

A bipartisan amendment from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would expand deposit insurance for business accounts, but the industry is split on who should bear higher FDIC premium costs.

Here's what industry experts have to say about a risk that a housing regulator has spotlighted through referrals that have led to high-level allegations.

A recent bargaining session was interrupted when union representatives learned that a Wells executive who wasn't in the room could hear what was being said. The bank maintains that it was a simple mistake involving a Microsoft Team meeting that should have been disconnected, but union officials aren't buying that story.

Scattered Spider, a cybercrime gang whose targets include banks, has seen five of its members arrested for SIM-swapping and phishing schemes that stole millions.

Visa Inc. shut its open-banking business in the US amid regulatory uncertainty about consumer-data rights and the prospect of higher fees for customer information, according to people familiar with the matter.

Scott Turner is the secretary of the Department of Housing and Urban Development

The Consumer Financial Protection Bureau has fined Synapse $1 for its role in a $60 million to $90 million shortfall in fintech users' accounts.

Ian Liu is a Client Executive with Global Risk Consultants. Ian is a RIMS conference speaker and thought leader in the risk engineering industry. He previously worked with AXA XL and FM. He earned a Master of Management in Artificial Intelligence from Queen's University and a Bachelor of Applied Science degree in Chemical Engineering with a Minor in Sustainable Energy from the University of Toronto.

A federal appeals court granted the government's request to pause a ruling that briefly restored Democratic National Credit Union Administration board members Todd Harper and Tanya Otsuka, leaving the regulator with a single board member pending appeal.

Erik Porter will succeed Lisa Oliver as president and CEO of the Cooperative Bank of Cape Cod; Gary Hall and Sobani Warner are named co-presidents of Siebert Williams Shank; Faiz Ahmad and Mike Joo will lead Bank of America's global investment banking unit; and more in this week's banking news roundup.