Just nine bank merger pacts were announced in February, down from 17 in January. But they included the biggest deal in years and some other interesting storylines.
Mark Calabria, who could be confirmed as early as this month, is expected to focus on changes to Fannie Mae and Freddie Mac’s conservatorships to let the mortgage giants keep more of their profits.
Franklin Financial, which was recently freed from a memorandum of understanding, has installed interim leaders following its founding CEO's retirement and his son's resignation.
Six senior executives at Chemical and TCF will move into similar roles when the merger closes later this year. Chemical Bank's current CEO, Tom Shafer, will become president of the combined bank, reporting to CEO Craig Dahl.
While there is no formal mandate to pursue a merger and other options are still being considered, Deutsche Bank Chief Executive Christian Sewing is said to have given up his resistance to doing a deal this year.
BB&T-SunTrust needs to pick a new name, but the best ones may be taken; banks need to be aware as criminals devise new ways to hide dirty money; Regions abandons indirect auto lending and more from this week's most-read stories.
The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back.
