Traditional financial institutions still have an advantage over challenger banks when it comes to building relationships with small merchants, despite scandals that have befallen megabanks.
In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality.
The New York unit of Popular has contracted with Biz2Credit to automate commercial loan approvals and handle the underwriting for applications under $100,000.
The Justice Department has decided against prosecuting three former U.S. executives of Rabobank that admitted it hid evidence about the flow of Mexican drug-cartel money, according to four people with knowledge of the probe's final stages.
While there are ways to improve the Community Reinvestment Act for the modern era, steps must be taken to ensure the law is not weakened in the process.
If approved, the Fed would consider risk factors besides size in how strenuously it oversees individual banks; Capital One's CIO on operating a bank as a technology company.
