Now that Democrats have won control of the Senate following the Georgia runoffs, experts say tax increases, progressive regulators and stricter congressional oversight await. Still, there could be some positives for banks, too.
U.S. Bancorp says its agreement to buy a portfolio with $320 billion of assets under management will raise its profile on the West Coast. The MUFG unit plans to reinvest proceeds from the sale in other priorities.
Capitol police directed the institution to close four branches Wednesday as armed Trump supporters forced their way into the complex, and two facilities remained shuttered late in the day.
HoldCo Asset Management wants more details about the banking company’s pending merger with SVB Financial. The shareholder's concerns center on payouts to the seller's management team and questions about the sale process.
Acting Comptroller of the Currency Brian Brooks pushed back on a recommendation from a task force — appointed by Consumer Financial Protection Bureau — suggesting that Congress should give the CFPB the authority to charter and regulate fintechs.
The Office of the Comptroller of the Currency’s proposal to ensure banking services are available to polarizing businesses contradicts long-standing guidance on managing reputational risk, big banks argue. But gun makers, energy firms and others say it would correct an injustice.
