BankThink

Citi using Revlon snafu to fix risk management

09/14/20

Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment.

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KeyCorp looking to accelerate pace of branch closings

09/14/20

Chris Gorman, the Cleveland company's chairman and CEO, said at an industry conference that an ongoing shift to digital channels provides an “opportunity to continue to ramp up" efforts to shutter physical locations.

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CFPB to release outline on small-business data rule

09/14/20

The bureau will detail how it will implement a Dodd-Frank Act provision requiring the agency to collect information on small-business lending in order to identify discrimination.

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Comerica to pause growth of loan-loss reserves as portfolio holds up

09/14/20

The performance of about $3 billion in hotel and other loans flagged by the Dallas company as high-risk has been a "a pleasant surprise," its chief credit officer said at an industry conference.

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Bank of America's patent machine keeps rolling

09/14/20

BofA, which has applied for or been granted thousands of patents, has been working recently on technologies that analyze spending patterns to give budgeting advice and use augmented reality to provide estate-planning services.

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Wells Fargo provides few updates on growth, cost-cutting plans

09/14/20

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

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OCC chief goes too far reimagining national bank charter

09/14/20

Acting Comptroller of the Currency Brian Brooks’ focus on allowing fintech firms into the federal banking sphere appears to have a more ambitious and risky goal: redefining the agency’s regulatory focus.

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Week ahead: NCUA tackles appraisals as hopes dim for more COVID relief

09/14/20

It's unlikely that lawmakers will pass new coronavirus-related legislation before Congress leaves for its October recess.

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Coronavirus proves bad times bring out the best in credit unions

09/14/20

Over the last six months, the movement has shown it is ready to step up during challenging times, including doubling down on service and rolling out new digital products.

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UBS Chairman explores merger with Credit Suisse: Report

09/14/20

Axel Weber has discussed the idea with Switzerland's finance minister and an agreement could happen by early next year, according to the Swiss finance blog Inside Paradeplatz.

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