Mick Mulvaney, President Trump’s Office of Management and Budget director, is being considered for interim director of the consumer watchdog after Richard Cordray steps down and until a permanent pick is confirmed.
The private-equity firm Cerberus Capital Management has taken a 3% stake in Deutsche Bank four months after buying a 5% stake in another German lender, Commerzbank.
Under changes announced Tuesday, the San Francisco company will provide a one-day grace period on overdraft fees to its direct deposit customers. It also eliminated overdraft fees on all transactions of under $5.
When a coder locked $150 million of digital currency stored in Parity digital wallets last week, many bankers probably saw it as another reason to ignore cryptocurrencies. Instead they should recognize the business opportunity (key custody) that the incident presents.
As the banking industry moves closer to adopting a faster payments system, bank executives have begun to think through the impact it will have on clients and banks themselves.
The sexual harassment tsunami continues, with stories from Fidelity and France. The woman behind Capital One's new chatbot drew on her experience creating animated characters for Pixar. And Wells Fargo whistle-blowers speak out.
Readers chime in on the idea of a state-backed bank to serve the cannabis industry, data-sharing between banks and fintechs, whether community banks can just focus on tech laggards, and more.
Fintechs should learn to value risk management — and the necessary bureaucracy that comes with it, bankers said this week in defending themselves again criticism that they are a pain in the neck to work with.
