Just two months ago, Comptroller Joseph Otting seemed to signal that the OCC might be open to letting national banks rent their charters to payday lenders. Now he is clarifying that it won’t happen.
While unprecedented debt levels pose risks, lenders say there won’t be any major upset to the economy for a number of reasons, including the view Bank of Canada won’t press ahead with higher rates if signs of stress emerge.
Canadian Imperial Bank of Commerce and Bank of Montreal are alerting clients that "fraudsters" claimed to have accessed personal and financial information of some customers.
U.S. banks are coming under pressure in pre-market trading as the Mediterranean nation prepares for a fresh election that may become a de facto referendum on its membership in the euro currency union.
