Economy

MiCommunity Bancorp would be the first bank to open in Michigan in 10 years.

The 2018 Most Powerful Women in Banking festivities kicked off Wednesday night with cocktails and conversation at the Alley Cat Amateur Theater in New York's Financial District.

Credit unions would not be impacted by the proposal, but the movement has spent much of the last decade telling lawmakers and regulators CUs are being punished for the actions of big banks that led to the financial crisis.

The 22-year Bank of America vet loves digging into the company's financials and finding ways to simplify cumbersome processes. “The work is demanding. It can be deeply analytical in that you have to take the complex and make it simple.”

Finucane has tackled some sizable problems at Bank of America in recent years, so it makes perfect sense she's been tasked to manage one of the thorniest issues facing big banks today: leading BofA's European operations in the wake of Brexit.

A new agency Web page has information on nearly every aspect of the agency's operations, including de novo applications, bank exams and failures.

Applications this year are more than double the 2017 mark and the most since 2009. But with some fintechs withdrawing their bids, observers are urging caution.

Whitney Austin is still recovering after being shot 12 times by the man who killed three people in the Cincinnati bank’s headquarters branch last month. The digital product manager has a new cause, has formed a foundation and is rethinking working life as she prepares to return to the bank.

The legislation would require the restructuring of financial institutions that have a total exposure exceeding 3% of the nation’s GDP.

For her trailblazing career on Wall Street, Byrne will be honored on Thursday at American Banker’s Most Powerful Women in Banking gala in New York.

In the newly created role of chief transformation officer, Ranjana Clark is in charge of ensuring MUFG stays ahead of tech disruption. She said that entails nothing less than a kind of cultural revolution.

The banking industry needs to work on getting more minority women into positions of power, and that starts with having conversations not only about gender but also race, MUFG's Jean-Claude said. "You don't see women of color reaching the highest levels."

It should come as no surprise that Meera Clark would gravitate to ventures like Morgan Stanley's Multicultural Innovation Lab, which pairs venture capital with founders from diverse backgrounds. After all, her mother, Ranjana Clark, is a disruptive trailblazer of her own at MUFG.

Financial regulators sought to walk a fine line Tuesday between reassuring Republican senators that they are quickly implementing regulatory relief and defending themselves against Democratic criticism that they are going too fast.

Banks’ tab to fight hackers rose 9% from last year by one measure. Investors want them to rein in tech investments, but security experts say the crooks are getting smarter and smarter.

How do you get someone like Bank of America's Anne Finucane as a mentor? Be impressive enough to get her attention and tough enough to take her constructive criticism.

Fed Vice Chairman of Supervision Randal Quarles said in written testimony that the central bank plans to move quickly to determine how to regulate banks between $100 billion and $250 billion of assets, and that it may provide also relief for banks over the $250 billion threshold.

The agency found that banks with less than $10 billion in assets were more prone than larger lenders to go beyond using standard criteria in evaluating borrowers.

Wondering who is new to the rankings of the Most Powerful Women in Banking and Finance? Here's an overview of the changes, along with a recap of the top team winners. Plus, #MeToo plays out on Capitol Hill, as Mel Watt and Brett Kavanaugh get congressional hearings, and Murphy Brown returns.

On Jun. 30, 2018. Dollars in thousands.