News

Results-driven Fraser just the ticket for fixing Citi, associates say

09/21/2020 Jane Fraser, who is poised to become the first woman to lead a major U.S. bank, possesses turnaround experience and strong interpersonal skills that make her well suited for mending fences with regulators and investors, according to present and former colleagues. [more]
Tags: Bankruptcy Blogs, BankThink, Citigroup, Corporate governance, Enforcement actions, GSIBs, Internal controls, Jane Fraser, Risk management, Succession planning, Women in Banking

Three more former Wells Fargo execs settle civil charges

09/21/2020 Matthew Raphaelson, Kenneth Zimmerman and Tracy Kidd, all of whom were senior executives in the company’s consumer banking unit, have agreed to pay six-figure fines in connection with Wells Fargo’s unauthorized account scandal. [more]
Tags: Bankruptcy Blogs, BankThink, Crime and misconduct, John Stumpf, Law and regulation, Wells Fargo

Week ahead: More uncertainty after Ruth Bader Ginsburg's death

09/21/2020 Credit union issues could struggle to gain traction as lawmakers battle over a replacement justice. [more]
Tags: Bankruptcy Blogs, BankThink, Data privacy, Election 2020, Law and regulation, Paycheck Protection Program, SCOTUS

Live Oak outpaces larger rivals in moving core system to public cloud

09/21/2020 The North Carolina bank deployed Finxact's new technology, which runs on Amazon Web Services, to make Paycheck Protection Program loans and will use it next to offer business savings accounts and CDs. [more]
Tags: Amazon Web Services, Bankruptcy Blogs, BankThink, Cloud Computing, Community banking, Core conversions, Core systems, Digital banking, Digital Banking 2020, Live Oak Bank