Compliance

The scorcher at Wells is giving some community bankers an opening to differentiate themselves from larger institutions that seem fee-dependent or "too big to manage."

Wells Fargo is saying so long to product sales goals for retail bankers, and the industry may never be the same.

"Rent-seeking" is a widely recognized economics term that refers to when people or groups try to obtain economic benefits for themselves through a subsidy in the political arena. In Washington, the term has special significance. Special-interest groups regularly try to gain subsidies by securing a special regulation that disadvantages competitors.

John Stumpf was coasting toward a carefully planned retirement. But the outcry over sham accounts at the San Francisco bank has put him in a precarious position as he testifies in front of Congress next week.

CUs and professionals recognized with inaugural compliance honors.

New York Gov. Andrew Cuomo announced the proposal of a state regulation requiring state-chartered credit unions and other regulated financial institutions to develop and maintain a cybersecurity program.

Chairman Jeb Hensarling’s financial reform bill was approved by the Financial Services Committee along mostly party lines as Democrats declined to offer amendments to legislation they said was too flawed to begin with.

Wells Fargo & Co. eliminated product sales goals for its consumer bankers as the company seeks to reassure regulators, lawmakers and customers after employees opened card and deposit accounts without clients’ approval.

The agency announced a new disaster response system, the Incident Management System, which will utilize real-time information to enhance the agency's efforts when unfortunate events occur.

Banks’ dilemmas around sharing data and embracing open payments technology are becoming a more urgent concern in Europe due to regulatory pressure, and fintech firms are starting to take notice.