Synchrony CEO Margaret Keane says plastic cards will be gone in five years; David Tyrie is succeeding the high-profile Michelle Moore as BofA's digital chief; Fed outlines a new approach for its post-crisis supervisory program; and more from this week's most-read stories.
Heightened competition from nonbanks, the rise of populism and the uncertainty surrounding Libor’s demise are just some of the short- and long-term threats facing big banks, risk executives say.
Wells Fargo, Bank of America, Citigroup and other banks have joined forces with fintechs and data aggregators to create the Financial Data Exchange, which aims to resolve the fight over sharing customer information.
In public, finance industry leaders have bailed on a key Saudi Arabian investment conference next week. Behind the scenes, dealmakers bringing in the hard cash are fretting — and still going.
Citigroup spent years reeling in customers with promotional rates, many of which have expired or soon will. The bank thinks it can keep a large number of those customers and make more money off of them.
The company’s stock plunges after Sarah Friar’s departure announced; the bank said it unintentionally withheld mortgage discounts from minority borrowers.
