BankThink

Dan O'Malley, who until very recently ran the fintech incubator at Eastern Bank (and before that was at Capital One), now has a startup called Numerated Growth Technologies and software that he says can process loans in five minutes.

The Treasury Department published its first report on regulatory reform, offering some familiar industry asks alongside some surprising positions.

The city has spent more than a decade working with nonprofits and banks to encourage people to open deposit accounts. Outreach and special products have lowered the unbanked rate in San Francisco to 2.1% in 2015 from 5.9% in 2011.

Wells Fargo, which is expanding its investment banking unit, has hired Mike Mayo to oversee U.S. large-cap bank research.

Federal law established oversight of banks’ security measures, but the lack of similar requirements for retailers creates a blind spot in defending against hacks.