Political contributions from Wall Street rose, but did they influence policy?; bank stocks post biggest monthly gain since President Trump was elected.
Congress has broad subpoena powers to demand the president’s financial records, but no bank wants to disclose confidential information about a powerful client.
Rising premiums and lenghty earn-back periods have made investors more skeptical than ever about M&A. So the sooner banks are able to convert systems and rebrand, the sooner they'll be able to meet the promised cost-cutting and revenue targets.
Colin Walsh, Varo’s chief executive, says the disruptor has hired several former regulatory officials to help in what has admittedly been “a difficult process.”
The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania.
The proposed program would allow companies to test innovative products that “present significant opportunities or benefits” for consumers, businesses and other financial institutions.
The venture capital firm New Enterprise Associates has led a $200 million funding round in Divvy, a business payments and expense management platform provider.
