Morning scan

OCC, FDIC propose CRA overhaul; PayPal sues CFPB over prepaid rule

12/13/19

The plan would increase lending and transparency, the regulators say; the company says the rule unfairly lumps together digital wallets and prepaid cards.

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BofA adds to holiday cheer; AI could be a savings tool

12/12/19

The bank joins rivals in predicting a better than expected Q4; JPM exec says AI could help create products for savings.

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Good quarter for banks?; HSBC settles U.S. tax evasion case

12/11/19

JPM’s CFO says trading, investment banking revenue better than expected; the bank will pay $192 million to settle charges it helped customers hide assets.

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Morgan Stanley to cut jobs; big banks making progress on replacing Libor

12/10/19

The Wall Street bank to shed 1,500 spots ahead of an uncertain 2020; smaller and regional banks are lagging behind but expect to increase their focus next year

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Goldman's small world; Bitcoin’s woes go beyond price

12/09/19

The bank may extend advisory service to clients with as little as $5,000 to invest; trading of the cryptocurrency has plunged.

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Credit card issuers bulk up; Diversity still a challenge for banks

12/06/19

Issuers have started adding metal to their credit cards; banks have been “slow” to add diversity in executive ranks, filings suggest.

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OCC takes a shot at Wells; Warren targets bank mergers

12/05/19

The regulator says the bank needs to address employee complaints and pay controls; the presidential hopeful would make it more difficult for banks to combine.

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Regulators ease hemp banking rules; alternative credit checks get the nod

12/04/19

Banks will not have to file reports on customers just because they're in the hemp business; making it easier for people with no credit history to get loans.

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Will the fintech bubble burst?; banks using customer data for retail offers

12/03/19

The number of fintech startups has declined rapidly; several banks are using customer data to help customize retail offers.

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Is Goldman changing its tune?; The rise of credit unions

12/02/19

The bank is likely to tout asset management at its upcoming investor day; credit union assets have exceeded banks' growth in the past decade.

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