Partnerships with financial technology companies could be effective in helping banks meet small-dollar credit demand, but those partnerships face a legal cloud. Thankfully Congress is considering adding needed clarity.
Richard Cordray took a big gamble in his final act as head of the Consumer Financial Protection Bureau, attempting to appoint his own interim successor. He lost Tuesday, but he was far from the only one.
For remaking East West Bank from a small savings institution into a $36.3 billion-asset player with a seat on the front lines of U.S.-China relations – all while churning out record earnings year after year – American Banker is recognizing Ng for being a "Consistent Performer" as part of our 2017 Banker of the Year awards.
Richard Cordray took a big gamble in his final act as head of the Consumer Financial Protection Bureau, attempting to appoint his own interim successor. He lost Tuesday, but he was far from the only one.
The San Francisco bank will immediately begin winding down its marketing of personal insurance products and plans to exit the business for good during the first quarter of next year.
District Judge Timothy J. Kelly ruled Tuesday that Office of Management and Budget Director Mick Mulvaney was the legal interim head of the Consumer Financial Protection Bureau, denying a request by Deputy Director Leandra English to block the appointment.
