The Securities and Exchange Commission sanctioned Citigroup because of unauthorized proprietary trading as well as for the failure to detect suspect loans issued by its Banamex unit.
Domestic card growth has not lived up to the bank’s expectations, even after its Costco coup. So it is making changes here to get product development, payments technology and card portfolio management on the same page worldwide.
BBVA Compass said on Wednesday that it was partnering with the broker-dealer Brean Capital to offer a variety of capital and investment banking services for community banks and correspondent banks.
Since John Turner took over as CEO in July, Regions has announced several executive appointments, including promoting Kate Danella to oversee strategic planning.
The Community Reinvestment Act can lower — not increase — bank credit availability in some low-income regions, and the OCC should reconsider holding fintechs to the same standards with its new charter.
The FBI and DOJ are looking into what could be one of the largest mortgage frauds since the financial crisis; lawyers for the banks met with the Fed last week.
Happy Money and Arcus have joined a pack of fintechs and online lenders urging customers to forego expensive credit card debt, in this case calling it a "sad spend."
