Economy

People's United is taking its efforts to raise awareness of financial exploitation to a new level.

An international regulatory body outlined a series of recommendations for reducing risks posed by the asset management industry, particularly increasing liquidity and reducing leverage posed by derivatives positions.

Mnuchin to divest; fintech firms may be able to get bank charters

Treasury Secretary-designate Steven Mnuchin will divest himself of his investments and interests in a number of companies and funds once confirmed, including a fund that has bet on Fannie Mae and Freddie Mac being recapitalized and released from government control.

There is optimism that consolidation could bounce back from a lackluster 2016 as bank stocks rally. At the same time, expectations of regulatory easing and tax reform could entice more banks to stay independent, at least in the short term.

HUD Secretary-designate Ben Carson is all but certain to get confirmed to his post—unless he makes a major mistake during his confirmation hearing.

The OCC's limited-purpose fintech charter will separate the healthiest fintech companies from the unhealthy ones — leading fintech one step closer to disrupting the incumbents.

Simple innovations -- such as those that would bring the underbanked into the financial mainstream -- are often stymied by regulation, says Bank of America CEO Brian Moynihan.

Nondepository lenders are beating their bank competitors when it comes to both digital innovation and market share in the mortgage industry. As interest rates rise, banks will need to move toward electronic closings and adopt other innovations if they want to stay competitive.

Wells Fargo has separated the roles of chairman and CEO and, as annual meeting season approaches, other large and regional banks could find themselves under pressure to follow suit.