CFO John Shrewberry projects that legal costs and other expenses related to the scandal will swell to between $50 million and $60 million and remain at that level for the next several quarters.
For certain banks, it might make sense to require the chairman of the board to be an outside board member. But that’s a decision best left up to the board and management.
Easing regs without mulling the consequences could hurt the financial system, but a fintech charter and other careful reforms could promote innovation, Patrick Harker said.
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
Cannabis could become a national $100 billion industry within 10 to 15 years. The U.S. has a choice: responsibly regulate cannabis or allow cannabis to become a narco-state unto itself.
The newly installed chairman of the Federal Communications Commission voted against 2015 rules that largely rejected the banking industry's entreaties.
PHH Corp. is opposing an attempt by Democratic attorneys general in 16 states and the District of Columbia to intervene in an appeals court case that found the Consumer Financial Protection Bureau unconstitutional.
