Risk management

Risk managers are generally not seen as innovators, but Houston's team is playing a critical role in supporting the development of groundbreaking new products aimed at improving customers’ financial health.

The dispute turns on the “discharge for value” defense, established by a 1991 New York court ruling that creditors can keep money sent to them in error if they didn’t realize the payment was a mistake.

The company will return to selling pieces of its credit exposure to private investors during the last three months of the year, but is still evaluating its strategy for 2022.

Citigroup said it will improve the structure of its commodities-trading business as part of its efforts to satisfy a pair of consent orders it received from regulators last year.

The European Central Bank will look at the trading operations of major lenders as part of climate stress tests next year, after judging that an assessment of loan books alone won’t give enough insight into the fallout they face from global warming.

The Federal Housing Finance Agency is looking to revise the framework intended for when Fannie Mae and Freddie Mac exit conservatorship in order to encourage the transfer of credit risk to private investors.

Banks in Louisiana and Mississippi are finding less physical branch damage than many expected. Executives say the pace of the recovery will hinge on how quickly power and water are restored, as well as the cost of supplies and labor.

The Fed, FDIC and OCC have issued guidance that says community banks should consider risk factors such as financial strength and business experience when evaluating potential fintech partners.

A consortium including Coinbase Global said all the reserves of the second-largest cryptocurrency stablecoin will shift into cash and short-term U.S. Treasurys, forgoing riskier investments.

Brian Gunn, who will join the Tokyo-based bank on next month, previously served as chief risk officer at Santander Holdings USA, Ally Financial and a GE Capital subsidiary.