BankThink

USAA's regulatory troubles now include OCC fine, CRA downgrade

10/14/20

The $85 million penalty and the bank's "needs to improve" rating on its Community Reinvestment Act exam were tied to alleged violations of the Military Lending Act and Servicemembers Civil Relief Act.

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Wells Fargo faces growing pressure to slash costs

10/14/20

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.

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Amalgamated CEO Keith Mestrich to leave bank in January

10/14/20

The New York bank, which is conducting a search for its next leader, also said it expects to report strong third-quarter earnings.

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TD Bank sues Plaid for trademark infringement, false advertising

10/14/20

In a lawsuit filed Wednesday, the U.S. subsidiary of Toronto-Dominion Bank accused the data aggregator Plaid of improperly using the bank’s name, trademarks and logos when it gathers TD customers' data.

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Top U.S. banks see long road ahead for return-to-office plans

10/14/20

Four of the nation's largest banks updated their progress in recent days on return-to-office plans. The takeaway: Most workers won't be back anytime soon.

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BofA breaks ranks and paints upbeat picture on consumer trends

10/14/20

Spending is up and deferrals are down sharply, signaling that the economy has turned a corner, CEO Brian Moynihan said. The outlook stood in stark contrast to JPMorgan Chase, which set aside more funds to address potential exposure in consumer banking.

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Fed’s Quarles casts doubt on permanent capital relief for big banks

10/14/20

Regulators in the spring temporarily eased a key benchmark of balance-sheet strength to allow institutions to help customers navigate the pandemic, but Federal Reserve Vice Chairman Randal Quarles said it would be “premature” right now to suspend it for good.

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U.S. Bancorp eyes another 15% reduction in branches

10/14/20

The Minneapolis company says the majority of branches earmarked for closing have already been shuttered for months due to the pandemic. Some of the savings will be plowed back into digital expansion.

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PNC unlikely to buy a digital bank, CEO Demchak says

10/14/20

The Pittsburgh company has reservations about the business model and staying power of online-only banks.

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Cornerstone League modifies branding

10/14/20

The trade group representing credit unions in Arkansas, Texas and Oklahoma said the change is an attempt to better unify a variety of services the association offers.

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