Is time running out to save black-owned banks?
A recent bank failure and a new legislative effort are again drawing attention to the struggles of black-owned banks since the crisis — and the fact that only 21 are left. ... Read full article
A recent bank failure and a new legislative effort are again drawing attention to the struggles of black-owned banks since the crisis — and the fact that only 21 are left. ... Read full article
Google has partnered with Citigroup and a California credit union to offer consumer checking accounts, a person familiar with the matter said. ... Read full article
Executives from the bank and the tech company have been working for months to create a cloud designed to address the challenges that often slow financial institutions' adoption of cloud computing. ... Read full article
The acquisition will create a Southeastern regional with $75 billion in assets across 11 states. ... Read full article
Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit. ... Read full article
As Congress continues to seek answers about the proposed ccryptocurrency, the appearance by Facebook’s CEO cast further doubt on the project’s future. ... Read full article
At a House hearing covering a whole host of housing finance reform topics, Fannie Mae and Freddie Mac's regulator said "if the circumstances" call for eliminating investors, "we will." ... Read full article
Regulators have long warned the credit bureaus about deceptive marketing that causes consumers to sign up unwittingly for paid monitoring services. But the practice has persisted, according to complaint data. ... Read full article
The high court will decide how much latitude a president has to fire the director of an independent agency. ... Read full article
The JPMorgan Chase CEO called Facebook's cryptocurrency project a "neat idea" but added his name to the list of industry leaders and policymakers skeptical about the plan. ... Read full article
Gordon Sondland, the U.S. ambassador to the European Union, is often described as a hotelier from the Pacific Northwest. But he has also had a long and sometimes controversial career in finance. ... Read full article
CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements. ... Read full article
The California Democrat is less recognizable nationally than other progressives elected to the House in 2018. But she may be "the most feared freshman" on the Financial Services Committee. ... Read full article
Bank executives at the Most Powerful Women in Banking and Finance gala stressed the importance of male allies in combating gender inequities. ... Read full article
Speakers at the Most Powerful Women in Banking and Finance gala stressed the need to use their power to help the next generation of women as well as enlist others in seeking gender parity. ... Read full article
In a speech at American Banker's Most Powerful Women in Banking and Finance gala, Citigroup chief Michael Corbat outlined several ways men can help combat bias against women. ... Read full article
Citigroup CEO Michael Corbat said that unconscious bias has contributed to inequality in the workplace despite a decades-long effort by many companies to promote women. ... Read full article
Linderman helped build Zions Bank into a retail force and shaped the multistate retail strategy of its parent company, but she will best be remembered for opening countless doors for women and minorities. ... Read full article
Scharf next month will become the fourth leader at Wells Fargo in three years. Meanwhile, Bank of New York Mellon has named Thomas P. "Todd" Gibbons as acting chief executive. ... Read full article
Citigroup has set measurable goals for increasing representation of women and U.S. minorities in senior, higher-paying roles and CEO Michael Corbat is urging other financial firms to follow suit. ... Read full article