The Consumer Financial Protection Bureau is likely to finalize its small-dollar rule by September ahead of Director Richard Cordray's widely expected departure.
He is, by Wall Street standards, a small-time banker. But in 2014, with Donald Trump eyeing a run at the White House, Stephen Calk stepped into the big-money world of New York real estate — and a network of Trump associates.
Atlantic Bay Mortgage Group has agreed to buy a majority stake in Virginia Community Bank in a rare instance of a nondepository mortgage company buying a bank, rather than the reverse.
UniCredit, Italy's No. 1 bank, said hackers took biographical and loan data from 400,000 client accounts in one of the biggest breaches of European banking security this year.
Banks planning to shift parts of their operations from London to other European cities because of Brexit will have to increase salaries because of a skills shortage, according to the head of a recruitment company.
Regulators need a principles-based approach that seeks to position boards as watchtowers for their banks while not subjecting directors to overly burdensome restrictions.
