Acquisitions of wealth management, insurance, fintech and other firms are expected to pick up as banks seek new sources of fee income and look to improve digital capabilities.
The companies pledged to share data with regulators, abide by certain restrictions on pricing and submit to regular examinations. But the voluntary pacts stop short of placing restrictions on existing revenue models.
Federal Reserve Chair Jerome Powell said the central bank will consider the pace of coronavirus vaccinations and other factors to determine if restrictions on dividends and share repurchases will continue.
Ellison-Taylor, an expert in technology and finance and former chair of the American Institute of Certified Public Accountants, is the second Black woman and fourth person of color on the Minneapolis bank's board.
The president’s executive action looks to assess the impact of the previous administration's alterations to the Affirmatively Furthering Fair Housing and Disparate Impact rules, while reinforcing Biden’s vow to eliminate discriminatory lending practices.
The company is exploring a range of options to diversify its balance sheet, but new CEO Thomas Cangemi says the best plan of attack is to merge with or acquire another institution.
The most likely picks for comptroller of the currency have pushed tech-driven approaches to financial inclusion and anti-money-laundering, and would bring new perspective to regulating cryptocurrencies.
