News Topic: Risk management

The CFPB and OCC are expected to assess a $1 billion fine against Wells Fargo for allegedly overcharging customers for auto insurance and home loans. ... Read full article

The New York Department of Financial Services is encouraging banks to review ties with the firearms industry. ... Read full article

Randal Quarles found himself in the middle of an issue that typically doesn't fall under a bank regulator's purview. ... Read full article

The Senate is expected to pass a bill that would ax controversial guidance on loans at car dealerships; lower tax rate may have skewed year-on-year comparisons. ... Read full article

The AML and financial crime ecosystem continues to evolve at record pace and bring new challenges. ... Read full article

Bankers hoped the tax overhaul would stimulate a boom in business borrowing, but several said this week that hasn’t happened yet. PNC’s Bill Demchak warned that the tax cuts could be encouraging lenders to underprice loans. ... Read full article

AccessFintech lets financial firms track trades and aggregates data in order to get a sense of risk across a number of systems. ... Read full article

Banks should ensure that their employees are nimble enough to react when unexpected situations arise, just as many had to do during the 2008 crisis. ... Read full article

San Francisco Fed chief is reportedly leading candidate to replace Dudley in New York; four senior officers to retire as OCC readies penalties against the bank. ... Read full article

Wells Fargo announced changes to its risk-management leadership this week as some executives plan to retire, according to a person familiar with the situation. ... Read full article

Freddie Mac and Arch Capital are testing a new form of risk-sharing deal to boost investor appetite for low down payment mortgages. But the pilot is raising concerns about "charter creep" because it dictates private mortgage insurance decisions ... Read full article

Senior leaders at the Federal Reserve, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau said they want examiners to be more understanding of the budding partnerships forming between banks and fintech firms. ... Read full article

Bankers should be careful in their push to deregulate, as efforts to roll back some crisis-era rules will likely add new risks to the financial system. ... Read full article

Wells Fargo, which has been told by the Fed that it needs to improve its governance and controls, on Thursday received an important thumbs-up from its outside auditor and also named the four senior directors who will retire next month. ... Read full article

Sen. Elizabeth Warren, D-Mass., and two colleagues are seeking more information from securities regulators about whether Wall Street firms are covering up signs of sexual harassment. ... Read full article

Kathleen Henry and Steven Antonakes have been named to the bank's management committee. ... Read full article

As financial services companies cool on gun sales, alternative currencies may step in to pick up the slack. ... Read full article

Blue Lion Capital, which is upset with the Seattle company's growth strategy, also wants to replace two of the company's directors. ... Read full article