News Topic: Morning scan

The agency found no “systemic issues” in its review of other banks’ sales practices; some churches say the lenders are needed, others see the devil. ... Read full article

Agency says it wants “smaller memberships to ensure streamlined discussions;” the bank hired a U.K. firm to help it better defend against cyberattacks. ... Read full article

The OCC finds widespread problems in bank retail sales practices; Ripple and Swift competition for payments pits technology against convention. ... Read full article

UniCredit and Société Générale are discussing a merger; Revolut also plans to launch its mobile service in the U.S. this summer. ... Read full article

No surprises expected from the annual Fed reviews; Elad Roisman is seen as the pick to replace Michael Piwowar on the panel. ... Read full article

The banker made $140,000 in illegal trading profits; the German bank faces Fed stress test and “living will” examination soon. ... Read full article

Proposal would simplify the rule prohibiting proprietary trading; Fiat Chrysler, which accounts for about a third of the unit’s business, may go solo. ... Read full article

The S&P 500’s financials sector drops more than 3%; former Amex chief’s venture capital firm is backing a credit scoring company. ... Read full article

A new round of consolidation may be about to begin, starting in Europe; looser corporate underwriting standards and lower rates draw OCC attention. ... Read full article

President plans to ease regulatory burden on the largest banks; online merchants say a Visa-Mastercard button blocks cheaper payment methods. ... Read full article

Otting wants banks to make small loans to consumers; the German bank will reduce headcount by at least 7,000. ... Read full article

The bill heads to President Trump for signing; U.S. banks earned an aggregate $56 billion in the quarter, including a boost from tax reform. ... Read full article

A British court throws out Serious Fraud Office charges that the bank conspired with Qatari investors to prop it up; investigators open 70 cases against potentially fraudulent cyber deals. ... Read full article

Banks feeling the pressure in commerical lending from lightly-regulated, cash-flush competitors; financial institutions take "an increasingly militarized approach" to fighting cybercrime. ... Read full article

Employees reportedly unit doctored documents; payments company buys Swedish fintech firm just before it goes public. ... Read full article

JPMorgan and Santander show off their uses for the technology; commercial and industrial loans outstanding are rising. ... Read full article

Circle Internet Financial says it is now worth $3 billion following latest funding round; proposed changes would give banks more leeway to make some trades. ... Read full article

The former Citigroup CEO is investing $100 million in Fair Square Financial, a midmarket card issuer; the exit leaves one executive atop the bank’s securities division. ... Read full article