The U.K. banking giant is reportedly mulling an exit from retail banking in the United States. It could attract more interest if it tries to sell its network in pieces instead of looking for a single buyer, analysts say.
Randal Quarles said banks should have used their extra capital cushions to help more during the pandemic; 1% of small business borrowers got 25% of the funds, SBA records reveal.
Visa insists that the Department of Justice, in objecting to its proposed $5.3 billion purchase of Plaid, fundamentally misunderstands the changing role of data in the payments industry.
President-elect Joe Biden will likely have to contend with a Republican-controlled Senate. That could have important implications for his approach to financial services policy.
Figure Technologies would only accept uninsured deposits, so it would not be subject to Fed or FDIC oversight. A major concern for banks is that the effort could open the door to incursions by bigger tech companies.
The Massachusetts company, which had a big second-quarter loss after writing down the goodwill tied to past acquisitions, will sell eight locations to Investors Bancorp and shutter another 16 offices.
Board member Todd Harper was concerned that the credit union regulator was not adequately preparing for the impact of prolonged economic turmoil and could be caught "flat-footed" as it was heading into the last crisis.
