Risk management

Will Citi snafu bring fresh scrutiny to custodial banks?


Citigroup’s $900 million payment blunder in a usually sleepy part of the financial market dominated by a handful of banks has experts wondering if regulators will uncover a deeper problem.


Regions Bank's Godin to retire at year-end


Barb Godin, the deputy chief risk officer and chief credit officer at the Birmingham, Ala., bank, is stepping down after a 45-year career in banking.


Citi asks Revlon lenders to return mistaken $900 million


The bank has recouped part of the payment, which it blamed on a clerical error, but some of the lenders say they were owed the money in connection with an ongoing dispute.


MUFG Union Bank hires chief information security officer


Devon Bryan, who held similar jobs at KPMG and the Federal Reserve System, succeeds Brian DiPietro, who had been information security chief since 2016.


Wells Fargo chief compliance officer is leaving: Report


The executive shuffle at the company continues as Chief Compliance Officer Mike Roemer quits and Credit Suisse America’s Paula Dominick is hired, according to a Financial Times report.


Check your toolbox before chasing new (and expensive) modeling systems


Many banks buy modeling tools from vendors to help detect new areas of risk, fraud and profitability without realizing their existing systems are capable of doing the same.


Housing groups seek change to FHA loan restriction on student debt


An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.


De novo started by gamblers rolls dice on banking them


Lexicon Bank in Las Vegas, whose chairman was a professional gambler, is actively courting poker players to open deposit accounts for their tournament winnings.


Capital relief is good for big banks and the economy


Some criticized the Fed’s decision to temporarily lift capital restrictions for megabanks, but the move will help ease the crisis.


JPMorgan dropped accounts that became bad news for Deutsche Bank


The trio of clients that got Deutsche Bank in regulatory trouble this week had a shared back story: They were all castoffs of JPMorgan Chase.