Scott Powell, the CEO of Santander Holdings USA, has spent years contending with a host of regulatory problems. He outlined a long-range vision that includes a branch-focused retail push and possible acquisitions.
The agencies had proposed revisions designed to make compliance less complex, but banks have expressed concern that the plan could have the opposite effect.
Santander Bank said Wednesday that the OCC had terminated a 2015 consent order related to an identity protection product. It is one of several regulatory headaches the bank and its parent company have resolved lately.
State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration.
The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages.
Bank of America and several other large U.S. financial services companies, as part an effort organized by the Thomson Reuters Foundation and Western Union, have published resources to help smaller banks spot signs of forced labor and kidnapping.
The Federal Reserve had ordered improvements in compliance, board oversight, risk management, capital planning and liquidity risk management that spanned multiple subsidiaries.
