Fifth Third Bancorp. promoted Chief Risk Officer Jamie Leonard to succeed Tayfun Tuzun, who will become chief financial officer of BMO Financial Group on Jan. 1. Both companies made other executive moves at the same time.
The group includes many advocates for stricter bank regulation from the Obama administration; the president-elect may have as many as three open seats on the central bank or as few as none.
With many Americans and members of Congress questioning the results of the presidential election, financial services trade associations quickly vowed to work with the incoming administration.
A moderate pick with financial sector ties could upset progressives, while the likely GOP majority in the Senate could balk at a nominee seen as too liberal. Here are some of the candidates.
Regulators were receptive to Republican lawmakers' calls to ease burdens on banks that cross new asset thresholds as a result of their participation in the Paycheck Protection Program.
The chairman of the National Credit Union Administration said during his limited time in a Senate Banking Committee hearing that he hoped changes to the agency's Central Liquidity Facility would last for the duration of the pandemic.
The fund exceeded its $1 billion target in five months of fundraising despite the lack of in-person meetings, and attracted 55% of the commitments from new investors.
