Morning scan

Banks, retailers prepare for battle; fintech startups surrender

02/23/17

Retailers are prepared to go to the mat to defend the Durbin Amendment on swipe fees; tech firms who sought to displace big banks now sell their wares to them.

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Wells fires four; GSE ruling upheld

02/22/17

Four retail managers are the first senior employees let go by the bank for their roles in the phony accounts scandal; federal court rules against investors in GSE suit.

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Filling the Fed; Ditching Durbin

02/21/17

President Trump is considering bankers and financiers, not economists, to fill vacant Fed seats; the ABA is launching an ad campaign to roll back the Durbin Amendment on swipe fees.

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Let the crime-fighters, not banks, fight crime; CFPB sweeps court double-header

02/17/17

The Clearing House asks Fincen to do more to fight AML; two federal courts side with consumer agency in separate cases, including question about its constitutionality

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Fed officials defend Dodd-Frank; OneWest executive for comptroller?

02/16/17

Yellen has good things to say about Volcker rule and CFPB, while Tarullo backs tighter reins on big banks; Trump said to be considering Mnuchin deputy as Comptroller of the Currency.

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Bank stocks hit milestones; SoftBank to buy Fortress Investment

02/15/17

Stocks of big banks have now largely recovered from their financial crisis lows; the big Japanese tech and telecom company plans to buy the $70 billion asset manager.

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Mnuchin confirmed by Senate; Banks move to cardless ATMs

02/14/17

The Senate voted 53-47 to approve Steven Mnuchin as Treasury secretary; customers will soon be able to access cash at ATMs using their cellphones

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Tarullo leaving the Fed; Cohn's growing role at White House

02/13/17

Daniel Tarullo's retirement opens another spot for a potentially bank-friendly central bank seat; Gary Cohn is Trump's point man on all things financial, from deregulation to Obamacare.

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ABA sues the Fed; Dimon's savvy investment

02/10/17

Bankers' association takes the Federal Reserve to court over dividends diverted to highway fund; JPMorgan Chase CEO makes a killing buying his stock at the bottom.

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New bank applications grow; Wells Fargo may kill 2016 executive bonuses

02/09/17

The FDIC received eight new bank applications last year, not a lot but the most since the financial crisis; Wells' board is considering dropping bonuses for its top brass.

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