Regional lenders would be subject to less regulation while the biggest banks would see no change; the insurance giant got hit with claims from several large natural catastrophes.
If approved, the Fed would consider risk factors besides size in how strenuously it oversees individual banks; Capital One's CIO on operating a bank as a technology company.
Wells Fargo puts two top execs on leave as scandal's reach grows; regional banks freed from SIFI label lobbying regulators hard for more relief; FDIC to launch innovation office to help banks compete with fintechs; and more from this week's most-read stories.
The civil money penalty from the Office of the Comptroller of the Currency follows a 2015 consent order against the bank, which became a subject of federal questioning after it suspended its business with check cashers.
The Stamford, Conn.-based company reported 9% growth in net interest income and 14% growth in loan receivables during the third quarter, attributing the improvements to addition of the PayPal Credit portfolio in early July.
The two megabanks face different problems, as Bank of America customers are frustrated over fees and customer service while Wells customers are alarmed about the bank's recent scandals.
Amazon's voice assistant will soon be in cars and even microwaves, but banks have not yet proven to customers they can serve them with conversational tech.
No outrage over more Wells disclosures; Steve Calk accused of conspiring with Manafort against his own bank; FBI warns banks about threat to ATMs; and more from this week's most-read stories.
