Randal Quarles, the latest front-runner for the vice chair of banking supervision at the Federal Reserve Board, would represent a moderate, mainstream Republican choice that is likely to be welcomed by the financial services industry.
The Trump administration's proposed budget would cut discretionary funding for the Department of Agriculture, which could affect a key agency lending program. Bankers are urging legislators to maintain, or even increase, funding.
The Consumer Financial Protection Bureau filed a lawsuit Monday against an Ohio law firm for allegedly engaging in illegal debt collection practices by failing to determine whether millions of consumers actually owed a debt.
Even in the event of a landslide, throw-the-bums-out investor vote over director seats next week, expect business as usual in Wells’ boardroom for a long while.
Leaked documents appear to show NSA analysts were able to hack into Middle Eastern banks’ servers through the Swift service bureau EastNets. The same tools could conceivably be used by cybercriminals and nation-states with more sinister motives.
The Consumer Financial Protection Bureau's prevailing mindset is apparently not affected by convincing evidence regarding options for borrowers looking for small-dollar credit.
At last week's conference in London, host Brett King took time away from speaking and judging startup pitches to talk to some of the main presenters, including Ruth Wandhöfer, Citi's global head of regulatory and market strategy.
President Donald Trump plans to nominate Randal Quarles, a senior Treasury official in the Bush administration, to be the Federal Reserve's top banking regulator, according to a person familiar with the selection process.
