News Topic: Morning scan

U.S. C&I loan growth has dropped below that of the eurozone for the first time in six years; bank employee says Chase discriminates against fathers when it comes to family leave. ... Read full article

Job cuts are the beginning of a new round of cost-cutting; Wells accused of modifying home loans on distressed borrowers without customer or bankruptcy court approval. ... Read full article

Trump administration’s “lighter” regulatory proposal signals that banks may finally have entered a “post-crisis” era; IBM rolls out Watson artificial intelligence tools to deal with regulations. ... Read full article

Steven Mnuchin says financial plan strikes the "right balance" between "burdensome" regulation and protecting taxpayers; online lender seeks Utah charter to take FDIC-guaranteed deposits and offer credit cards. ... Read full article

Report is "harshly critical" of CFPB and calls for sharply reining in its powers; Financial Times editorial questions non-bank companies' ability to assess credit risk. ... Read full article

Matthew Zames, the bank's COO, is leaving because Jamie Dimon doesn't look like he is; Financial overhaul bill passes along party lines but is unlikely to be the last word on regulatory reform. ... Read full article

Bill would replace much of Dodd-Frank but is unlikely to become law; online retailer is expected to expand Amazon Lending program to small businesses in the U.S., U.K. and Japan. ... Read full article

Spain's largest bank to pay a little over a dollar to save troubled domestic rival Banco Popular; House finance committee says CFPB director dragged his feet on Wells phony accounts scandal. ... Read full article

President to name former One West lieutenant to Treasury Secretary Steven Mnuchin to head OCC; Wells plunges to number 100 from seventh in Barron's rankings of most respected public companies. ... Read full article

More business lending is shifting from banks to "murky" trusts as the government imposes more restrictions to reduce risky loans; 11 states advance suit as Justice Department retreats. ... Read full article

Fed Gov. Jerome Powell says central bank will provide more information to banks about how it conducts annual tests; bank CTO discusses its 2018 blockchain test. ... Read full article

Stocks in big banks have fallen by double-digit percentages since early March amid "fading hopes" of stimulus; Wells won't be able to manage municipal bond deals in New York for at least a year. ... Read full article

Wells Fargo streamlines Western unit, shifts executives as post-scandal overhaul continues; Goldman Sachs gets grief for "cynical" purchase of Venezuelan bonds at deep discount. ... Read full article

Reliance on asset-based loans protects banks as retail chains flounder; average FICO score hits record 700 while the percentage of those with scores below 600 hits new low. ... Read full article

The price of bitcoin continues to rise in volatile trading; Wells Fargo, still reeling from its phony accounts scandal, is boosting signing bonuses for brokers just as competitors decrease theirs. ... Read full article

House financial services committee head agrees to drop swipe-fee repeal in order to save Financial Choice Act; Federal appeals court appears skeptical about declaring agency's makeup unconstitutional. ... Read full article

Blockchain platform's capital raising is its biggest to date; mutual fund giant now accepts digital currency in its cafeteria as CEO Abigail Johnson embraces it. ... Read full article

Bank agrees to pay $97 million as DOJ drops criminal charges involving money laundering at Citi uni; digital currency price roars past $2,200 as Japanese catch the bitcoin bug. ... Read full article