Banks are extending maturities and making loans to riskier credits to boost volume; banks cut their muni holdings as tax rates drop.
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.
Agency says it wants “smaller memberships to ensure streamlined discussions;” the bank hired a U.K. firm to help it better defend against cyberattacks.
The OCC finds widespread problems in bank retail sales practices; Ripple and Swift competition for payments pits technology against convention.
UniCredit and Société Générale are discussing a merger; Revolut also plans to launch its mobile service in the U.S. this summer.
No surprises expected from the annual Fed reviews; Elad Roisman is seen as the pick to replace Michael Piwowar on the panel.
The banker made $140,000 in illegal trading profits; the German bank faces Fed stress test and “living will” examination soon.
Proposal would simplify the rule prohibiting proprietary trading; Fiat Chrysler, which accounts for about a third of the unit’s business, may go solo.
The S&P 500’s financials sector drops more than 3%; former Amex chief’s venture capital firm is backing a credit scoring company.
A new round of consolidation may be about to begin, starting in Europe; looser corporate underwriting standards and lower rates draw OCC attention.
