Following are notable cases where banks were tripped up by the Fed's stress tests either by flunking the numbers (or quantitative) part of the test or raising red flags on a qualitative basis.
The most innovative projects shared at Digital Banking 2017 involve embedding banking in popular devices and apps like Facebook Messenger and Amazon Echo.
Job cuts are the beginning of a new round of cost-cutting; Wells accused of modifying home loans on distressed borrowers without customer or bankruptcy court approval.
While the courts have affirmed cities’ right to file predatory lending suits, they are also now holding them to a much higher standard in proving that banks knowingly steered minority borrowers into high-cost home loans.
Bank of America will keep cutting costs even after reaching its annual spending goal of $53 billion by finding more ways technology can replace people, Chief Operating Officer Tom Montag said.
The new acting chief of one of Washington’s major banking regulators has agreed to stay away from issues involving dozens of former legal clients, including 14 banks that the agency oversees, according to his ethics agreement.
Post-crisis financial rules have made the business of project lending less profitable for commercial banks. Foreign competitors have stepped in to fill the void, but U.S. banks can carve out a niche as bond offering managers and financial advisers.
The following is a recap of the 2017 slate of honorees picked by the tech journalists at American Banker, led by Digital Banker of the Year Michelle Moore of Bank of America and including four finalists.
Bank of America has spent years catching up to peers on customer service. Its next objective: using insight from customer feedback to shape a top-tier digital experience. When the haters hate, Michelle Moore listens.
In this quick Q&A, Michelle Moore, head of digital for Bank of America and our Digital Banker of the Year, talks about her favorite apps, her love of running and how she holds herself accountable.
