The move to alter the government's preferred stock purchase agreements is the first major one under FHFA Director Mark Calabria's tenure to wind down the conservatorship of the government-sponsored enterprises.
Goldman’s consumer unit, Marcus, has so far lost $1.3 billion; big lenders like JPMorgan Chase and Amex are making loans for small-ticket items like clothes and cosmetics.
She turned around troubled business units, rebounded after a demotion and beat cancer. Now Bank of America’s chief operations and technology officer is taking on her biggest challenge yet: ensuring AI is used responsibly.
Nearly a third of the women in the annual ranking are new additions, the largest amount in years. Here's an overview of the changes. Plus, Citi's Corbat on its bold gender equity move, and Wells Fargo's less bold CEO decision.
Cathy Bessant, BofA’s chief operations officer, is the Most Powerful Woman in Banking; 6 standout fintechs at Finovate 2019; the Citi CEO says gender pay gap is ‘a challenge we need to tackle together’; and more from this week’s most-read stories.
Bank of New York Mellon’s quick decision to elevate the longtime executive to succeed Charles Scharf on an interim basis was well received. Will the board keep him, or search for an outsider for the long term?
Simone Grimes had alleged former FHFA Director Mel Watt made inappropriate advances toward her and she was paid less than the man who had previously held her position.
Charlie Scharf’s most immediate priorities will be mending fences with regulators and getting the bank out from under a Fed-imposed asset cap. But he also must come up with strategies for spurring revenue growth and reining in expenses.
