The Puerto Rico-based bank failed in 2015. The FDIC, its receiver, is seeking unspecified economic and punitive damages from 16 lenders, including Bank of America, Barclays and Credit Suisse.
U.S. Bank's $600 million fine for AML lapses quickly drew readers attention, while acting CFPB Director Mick Mulvaney got the Cordray treatment on Capitol Hill and big banks made moves to speed real-time payments.
Banks scrapped a plan to create a shared data bunker for customer data in favor of a backup buddy system. Some argue a move to blockchain should be next.
While small and regional banks are pushing for a rollback of the Dodd-Frank Act, big banks are largely supportive of the 2010 financial reform law, Bank of America CEO Brian Moynihan said Thursday.
Bank of America hired Davis Polk & Wardwell to conduct an internal review of a $292 million charge-off in the fourth quarter, according to a person familiar with the matter.
Bank stocks tumbled on Monday amid a wider sell-off as investors' concerns mounted that wage growth could lead to inflation, higher borrowing costs for businesses and a slowdown in Fed rate hikes.
Large banks have begun sharing their adjusted gender pay gap ratios — how much women are paid versus men for similar jobs. The trouble is, they don’t have similar jobs.
