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  • Morning scan
    New contender for FDIC chief; banks feel strain in cards

    Fifth Third's chief legal officer has emerged as a leading contender to get the nod as the FDIC's next chief; credit card profits under pressure at banks.

    By George Yacik
    July 31
    fdic-bl092909.jpg
  • Morning scan
    Yet another Wells scandal; bitcoin exchange busted

    The bank forced hundreds of thousands of auto loan borrowers to take out insurance they didn't need, putting some into delinquency; a Russian man is arrested and charged in $4 billion money laundering scheme.

    By George Yacik
    July 28
    Wells Fargo branch.
  • Morning scan
    ICO showdown looming; financial firms move inland

    Companies planning to raise money by selling electronic tokens for cryptocurrencies said they won't be put off by SEC warning of regulation; soaring costs trigger exodus from traditional coastal financial hubs.

    By George Yacik
    July 27
    The Securities and Exchange Commission flag flies in front of a building.
  • Morning scan
    Citi ready to turn the page; oversight for ICOs?

    Citigroup hopes to return $60 billion to shareholders by 2020 while earning $20 billion a year; SEC says companies that raise money by selling their own electronic tokens for cryptocurrencies may be subject to federal oversight.

    By George Yacik
    July 26
    Sign outside a Citibank branch.
  • Morning scan
    Citi's investor day returns; Morgan Stanley tops Goldman

    Citi is holding its first investor day since the financial crisis, plugging credit cards and its Mexican business; Morgan Stanley's market cap tops Goldman's for the first time.

    By George Yacik
    July 25
    Citibank signage outside a New York branch.
  • Morning scan
    Wells Fargo data goof; Trump-CFPB war widens

    Outside counsel for Wells Fargo accidently sends files on wealthy customers to opposing lawyer in defamation case; White House wants agency’s consumer complaint database to be private.

    By George Yacik
    July 24
    A group of religiously affiliated shareholders that had pushed Wells Fargo to write the report criticized the bank for only publishing a summary of its findings.
  • Morning scan
    Visa profit surges; Capital One earnings, revenue rise

    Payments company rises as hot premium cards fly under its banner; despite the improvements, analysts have concerns about growing credit quality issues.

    By George Yacik
    July 21
    Visa credit cards.
  • Morning scan
    OCC fights for fintech: GOP plans to kill CFPB rule

    Acting Comptroller Keith Noreika says his agency is prepared to defend its authority to grant banking licenses to fintech firms; lawmakers hopeful they can block anti-arbitration rule before it takes effect.

    By George Yacik
    July 20
    Sen. Tom Cotton, R-Ark.
  • Morning scan
    Goldman unit takes a hit; CFPB blocks mandatory arbitration

    The bank’s once-vaunted bond trading unit reports its second bad quarterly performance in a row; Cordray tells OCC it’s too late to stop rule prohibiting mandatory arbitration.

    By George Yacik
    July 19
    Mary Mack, head of Wells Fargo's branch network.
  • Morning scan
    BNY hires Scharf as CEO; OCC-CFPB tiff escalates

    Former Visa CEO replaces Gerald Hassell; Acting Comptroller Noreika asks Cordray to delay rule that makes it easier for consumers to sue banks.

    By George Yacik
    July 18
    Goldman Sachs CEO Lloyd Blankfein.
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Innovation of the Year 2025

The 10 most groundbreaking tech projects and bank-fintech partnerships that are moving financial services forward

ABM0625_Cover.jpg

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© 2025 Arizent. All rights reserved.
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© 2025 Arizent. All rights reserved.