The agency wants more timely information on the banks it supervises; investors filed a criminal complaint against Ernst & Young, calling their work “a disaster” for failing to expose the scandal.
Two years after a consumer protection law changed how banks and other companies handle customer information, a new proposal aims for more sweeping reforms.
While they are not dramatically opposed, Jelena McWilliams and Brian Brooks have articulated their own ideas on postal banking and the use of artificial intelligence in lending.
Some observers said the central bank should have suspended dividends entirely in response to an unprecedented economic emergency caused by the pandemic. Others said its more cautious moves were appropriate because big banks' capital is strong and the economy could bounce back.
Wells Fargo customers targeted with phishing attacks using calendar invites; Fed freezes stock buybacks, caps dividends after stress test results; Citigroup names Titi Cole its head of global operations and fraud prevention.
JPMorgan Chase is cracking down on racism by its customers. The bank is revamping a policy for dealing with abusive clients to include racism toward call-center employees as behavior that could warrant cutting ties with the customers.
Ezequiel Szafir, CEO of Banco Santander's digital-only Openbank, sees banks of the future looking increasingly like Amazon.com — with online storefronts for financial products.
