While the banking industry has applauded regulators’ effort, community groups say the proposal needs to be reworked or it will hurt those the law was meant to help.
The lawmakers sent a letter to the comptroller of the currency requesting his appearance before the Senate Banking Committee after he was unable to attend a hearing last week.
BNY Mellon said it plans to accelerate tech spending; a Wells Fargo exec warned banks against ignoring Gen Z customers; the CRA reform proposal was finally released; and more from this week's most-read stories.
An appeals court on Thursday denied bank groups an en banc hearing from all 11 appellate judges, but bankers said Friday that they're considering turning to the Supreme Court.
In addition to overseeing the bank’s lines of business, technology and operations, Kevin Blair will now be responsible for human resources, credit administration and all customer-facing support functions.
The United States could be the point-of-sale lender's largest market within two years, its CEO says. The firm's investors include BlackRock, Sequoia Capital and the rapper Snoop Dogg.
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