Financial institutions

WASHINGTON — Seven financial trade groups announced Monday that they are banding together to push legislation that would extend banklike data security standards to retailers and nonbank businesses.

Joseph Fellerman, a former special adviser at the Federal Deposit Insurance Corp., was one of the first people at the agency to research systemic resolution. Now, the agency is better prepared to handle the next big crash, he told the American Banker in a sit-down interview.

I bear no hard feelings for the JPMorgan Chase CEO, but our disagreement underscores a rift between how Wall Street firms and community banks view the post-crisis landscape.

Goldman Sachs Group’s compensation plan, including a provision making Lloyd Blankfein the highest-paid chief executive officer of a Wall Street bank for his work last year, drew the most opposition since shareholders began voting on the matter in 2009.

The heads of megabanks get paid a lot. Some investors want them to streamline their companies for greater returns. But it's arguable whether those CEOs would want to do so if their counterparts at smaller, better-performing banks get paid less.

Banks and nonbanks should accept that more fintech regulation is inevitable, but how far regulators go will depend in part on how well companies demonstrate they are managing risk.

One of the country's largest online lenders is cutting jobs and shelving expansion plans in response to investors' rapid retreat from the beleaguered sector.

In his first public remarks this year, Federal Reserve Gov. Daniel Tarullo offered a preview of the enhanced capital and liquidity requirements that certain insurers will soon face.

Regulators have abused their role of implementing law to actually make financial policy, usurping the role of Congress in a tripartite system.

The Justice Department filed suit Thursday against Guild Mortgage, arguing the firm violated the False Claims Act by improperly originating and underwriting Federal Housing Administration loans.

Minneapolis Fed President Neel Kashkari made waves when he said drastic measures — including potentially breaking up the megabanks — are needed to end "too big to fail." In an expansive interview, Kashkari talked about his political future, the culture at the Fed and the challenge of legislating change.

JPMorgan attracted stronger support for its annual say-on-pay vote after dozens of conversations with major shareholders prompted it to make a series of changes to executive compensation.

Key Democrats abruptly reversed course Tuesday concerning a monetary policy tool, saying they now support the Federal Reserve's ability to pay interest on banks' excess reserves.

Following the scandal-tinged departure of CEO Renaud Laplanche, the company is contemplating drastic steps to restore the confidence of loan buyers. Scenarios that would have been far-fetched a short time ago — such as diluting shareholders and funding loans off its own balance sheet — are now under consideration.

Google should be applauded for deciding to ban payday loan-sponsored ads. But it should tweak some of the details so legitimate lenders can still advertise.

As the Federal Reserve Bank of Minneapolis continues its yearlong inquiry into how to end "too big to fail" in the banking system, academics and economists are starting to home in on a different but related question: How do we keep financial contagion from creating financial crises?

Favorable treatment under upcoming Consumer Financial Protection Bureau rules has led banks to signal interest in small-dollar loans. But if they can serve the market profitably, why aren't they already doing it?

Too many fintech companies are selling superficial products. Entrepreneurs need to start solving hard problems and offering real value.

In a blog post on the Brookings Institution website, former Federal Reserve Chairman Ben Bernanke defended the Dodd-Frank Act and Basel reforms as a necessary "process" while countering calls to break up the largest U.S. banks as shortsighted and unnecessarily disruptive

Stephen Scherr, Goldman Sachs Group's chief strategy officer, will take on the additional role of chief executive officer for banking operations.