Federal Reserve Chair Janet Yellen defended post-crisis reforms but allowed that further adjustments may be necessary to reduce adverse effects on small businesses and subprime borrowers.
The Boston company — a division of the Spanish banking giant Banco Santander — announced that the Federal Reserve has terminated a 2014 written agreement barring it from declaring dividends without central bank approval.
Mobile wallets and digital payments apps are erasing the distinction between credit and debit, but many issuers still cling to old practices that treat those audiences differently. SunTrust is working to change that.
Acting Comptroller of the Currency Keith Noreika is using his short time in office to open a debate about the separation of banking and commerce, which he says is anti-competitive, stifles diversification and may limit regulators' options in times of crisis.
Lenders will not have to report data on open-ended home equity lines of credit in 2018 or 2019 if they originated fewer than 500 HELOCs the preceding year, the bureau said.
With the deadline for a federal-debt-limit renewal nearly a month away, bankers are dreading the prospect of higher funding costs, strained liquidity, weaker commercial loan demand and other ramifications if Washington does not act.
The uplifting story of another Virginia statue — this one honoring the first black female to charter a bank — is well-timed. Plus, JPMorgan Chase's O'Connor on laboring over Libor and U.S. Bank's Lawler on getting people to do the right thing.
