Risk

With their millions of customers, large retailers like Forever 21 have typically been the hardest hit, writes Mark Cline, a vice president at Netsurion.

The proposal lays out principles in three critical areas: the effectiveness of senior management, handling of the firm’s business line and the independent risk management structures within a banking organization.

After a six-month transition period, Mark Midkiff will succeed Bill Hartmann later this year.

The Office of the Comptroller of the Currency said Tuesday that Norman Williams will oversee the three research and analysis divisions that assess financial and economic risks to banks.

Fannie Mae's serious delinquency rate climbed to a high not seen since March 2017, but remained lower than it was 12 months prior.

Credit union examiners will be focused on cybersecurity, BSA compliance, fraud prevention and more.

Banks reported $6.4 billion in trading revenue in the third quarter, down 3.6% from the previous quarter, on falling interest rate and foreign exchange revenue, the Office of the Comptroller of the Currency said.

Maria Zuber, who oversees research administration and policy at MIT, has been appointed to the board's enterprise risk and corporate governance committees.

The House Financial Services Committee passed 13 bills (and scrapped a vote on one) Wednesday, including one that would stop Fannie Mae and Freddie Mac from being released by the government and another hailed as helping the underbanked in rural areas.

The central bank should take new steps to ensure that examiners do not become too cozy with the big banks they supervise, a government watchdog said.