Consumer banking

New York faces more empty storefronts as bank branches shrink

01/24/20

With mobile banking on the rise, New York City is joining a trend that's already sweeping the rest of the country. Fewer bank branches. Smaller bank branches.

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Behind Wells Fargo's ploy to pin sales misconduct on 1% of employees

01/23/20

Documents released by the Office of the Comptroller of the Currency Thursday allege that senior leaders had reason to know that the wrongdoing was widespread but failed to act.

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Comerica names new chief credit officer in latest management shake-up

01/23/20

The promotion of Melinda Chausse was one of several leadership changes the Dallas company announced this month.

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OCC drops hammer on Stumpf, seven other ex-Wells Fargo execs

01/23/20

Former CEO John Stumpf agreed to pay a $17.5 million penalty while ex-community banking chief Carrie Tolstedt faces a potentially $25 million fine for sales-practices misconduct. Other former officials could face fines totaling $16 million.

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Why we converted from a credit union to a bank

01/23/20

A former credit union CEO explains why it chose to become a bank, subject to taxes, and says Congress needs to intervene in discussions on an NCUA proposal to loosen capital standards.

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Branchless banks defy the naysayers

01/22/20

Ally and other direct banks continue to report strong deposit growth even as they slash the rates they pay to depositors. The trend suggests that the online-only approach has more staying power than its detractors believed.

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Fifth Third branch openings could soon outnumber closings

01/22/20

While most banks are shrinking their branch networks, the Cincinnati bank is approaching the day where its branch expansion in the Southeast will more than offset closings in its legacy markets, its CEO says.

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A plan to give CFPB’s new task force some teeth

01/22/20

The new group should look at protecting consumer data and how nonprime financial consumers are treated through new regulations.

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Citigroup CEO says many branch jobs are still safe from machines

01/21/20

Modernizing the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, CEO Michael Corbat said.

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Morgan Stanley not satisfied; lawmakers demand more answers from Dimon

01/17/20

The investment bank is raising its return on equity target following a record earnings year; Democrat lawmakers say JPMorgan's response on racial discrimination questions was inadequate.

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