Critics fear a large player obtaining a charter could quickly be seen as systemically important to the economy, while supporters argue there will be safeguards in place.
Federal and state regulators on Friday announced that BB&T has agreed to a consent order over weaknesses in its Bank Secrecy Act and anti-money-laundering program.
Big banks increasingly are developing application programming interfaces to make their customers’ data available to third parties. But discrete deals between banks and third parties would be a bad outcome for consumers and the industry as a whole.
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
Facebook now lets users log in using a physical token. If banks gave consumers this option, it would strengthen the security of online accounts — or at least bolster their image.
