The Rakuten application has piqued interest in reviving legislation aimed at stopping commercial firms from owning banks. Yet Congress previously had the chance to enact such a measure and declined.
Several banks abandoned their BHCs two years ago to cut costs and reduce regulatory burden. But the strategy never really took hold as most bankers determined there were more benefits to having holding companies than eliminating them.
More than 50 banks and banking groups responded to the National Credit Union Administration's call for public comment as it attempts to explain why a new field of membership provision won't permit redlining.
Dennis Nixon and Gerry Schwebel at International Bancshares share their views on the U.S.-Mexico-Canada trade deal, immigration policy, and a border wall.
BB&T and SunTrust showed that big-bank mergers are still possible, but top executives at other large regional banks say that a knee-jerk response would be a mistake.
Raging Capital Management also urged the company's board to repurchase stock and think about selling a minority stake in the payments processor Evertec.
