Corporate governance

OCC hits Michigan bank with order tied to Bank Secrecy Act compliance

06/24/19

Sterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity.

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Momentum builds for Wells Fargo to remove CEO Parker's 'interim' tag

06/12/19

With several top candidates reportedly turning down the job, some insiders are reportedly lobbying the board to appoint C. Allen Parker as the bank's next CEO.

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Broken systems beget bad behavior

06/12/19

Corporate scandals at banks and other firms often suffer from similar management challenges. The financial industry needs to look more closely at these root behaviors to help stem misconduct.

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Wells Fargo expands board, mulls changes to auto loan pricing

05/29/19

The scandal-plagued bank announced Wednesday that it is adding a board member with deep experience in accounting. It is also considering a switch to flat pricing in indirect auto lending, a change long favored by consumer advocates.

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Vernon Hill survives proxy challenge at Metro Bank in U.K.

05/21/19

Metro Bank had worked to win shareholder support by raising fresh capital and cutting ties with Hill's wife's design firm.

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JPMorgan wins shareholder support for executive pay plan. But there's a caveat

05/21/19

The 72% backing was the lowest approval rate for the resolution since 2015. An advisory firm criticized the bank's policy as too subjective.

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Wells Fargo moves closer to recouping some losses tied to scandal

05/16/19

A federal judge has given preliminary approval to the proposed settlement of a lawsuit under which insurance companies have agreed to pay $240 million for losses the San Francisco bank incurred from the widespread opening of fake accounts.

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Big banks still need to streamline their operations

05/08/19

Departments across large institutions remain siloed, which leads to poor customer service. Fintechs are poised to take business from unhappy consumers unless banks address this problem.

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'Good luck with legislating innovation': Comments of the week

05/02/19

Readers respond to JPMorgan's Twitter gaffe, weigh the role banks should play on issues like climate change, consider the impact of artificial intelligence on fair lending and more.

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Virtue-signaling banks hurt shareholders and customers

04/29/19

Financial institutions should focus on maximizing returns instead of feel-good initiatives to cut greenhouse gas emissions or reduce gun financing.

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