Several other recent hires may have been an attempt to refute charges it can’t attract top talent; rising rates have helped banks, but a reckoning awaits.
The crisis in affordable housing has its roots in the high cost of building entry-level single-family homes. But why does it cost so much to build a house? And what did previous generations do to build affordable housing?
BNY Mellon snags tech exec from Bank of America as CTO; dissent spreads at CFPB over top aide's writings; Anne Finucane ready to lead BofA's European operations; and more from this week's most-read stories.
JPMorgan Chase is eliminating 400 positions in its mortgage banking unit, the latest lender to trim staff as a result of lower-than-expected demand in 2018.
The heavy workload is not limited to implementing the financial regulatory reform bill enacted last spring, as the agencies also work to craft reforms of the Community Reinvestment Act and adjust key capital measures for the biggest banks.
Diane Schumaker-Krieg, the global head of research economics and strategy at Wells Fargo and a mainstay on American Banker's list of the Most Powerful Women in Finance, plans to step down at the end of the year.
Speaking at an industry conference Thursday, two tech executives and a community banker said that community banks should be allowed to experiment with new products without worrying about running afoul of regulators.
