A bill updating the commonwealth's credit union act, signed into law on Jan. 12, is said to be the most comprehensive update of the state charter in 30 years.
The Wall Street bank’s 51% jump in net income caps a strong earnings season for the biggest banks; President Biden is expected to nominate Michael Barr, a former assistant treasury secretary who helped write the 2010 Dodd-Frank Act, as comptroller.
The administration faces a slew of immediate financial policy tasks, such as passing a new round of small-business aid, charting a course for Fannie Mae and Freddie Mac and filling vacant agency leadership posts.
Providence, R.I.-based Citizens Financial has largely focused on nonbank deals in recent years, but CEO Bruce Van Saun said the race for scale in the industry is prompting more banks — including his own — to consider mergers.
The company, poised to complete its purchase of Radius Bank, will enjoy new cross-selling opportunities, gain additional sources of fee income and capital as well as benefit from greater regulatory clarity, CEO Scott Sanborn says.
After a pivotal Supreme Court ruling last year, the Trump administration’s handpicked leader of the Consumer Financial Protection Bureau was widely expected to leave voluntarily or be fired by the new president.
