Retail banking chief Mary Mack made several changes, including restructuring leadership in the Western region, where some of the worst incidents in the Wells scandal were said to have occurred.
ATMs tend to run on older versions of the Windows operating system, which potentially makes them targets for ransomware that preys on such vulnerabilities.
Aggressive restructuring moves and stock buybacks are giving CIT time to remold itself, but it will need to show core-banking growth to stave off calls for the company to sell itself.
The Federal Reserve is right to look at shrinking its bloated balance sheet. But if it doesn’t simultaneously stop paying banks to hoard money, the Fed will create the next recession.
The OCC recently gave Sterling a 'satisfactory' rating and said the New York bank had addressed some concerns by the Fed that had leaked to the public and raised questions about its pending M&A deal.
Citigroup has agreed to sell its fixed-income analytics and index business, which includes the nearly 30-year-old Yield Book platform, for $685 million.
Banks have not adjusted their business models to accommodate growing numbers of financially precarious Americans. But hard times should not disqualify people from the banking system.
First Data hopes to enhance its ability to integrate payments with other merchant services by acquiring the processor and technology company CardConnect, which is already one of First Data's largest distribution partners.
