Credit Suisse CEO leaves; Fannie, Freddie to buy SOFR mortgages

02/07/20

Tidjane Thiam submits his resignation; the two agencies said they will soon start accepting mortgages tied to the new rate and drop Libor by yearend.

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Fed releases scenarios for 2020 stress testing cycle

02/06/20

The Federal Reserve on Thursday released the 2020 stress testing scenarios that it will use to evaluate the safety and soundness of 34 banks with more than $100 billion of total assets.

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House Dems to CFPB chief: Use the authority Congress gave you

02/06/20

Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.

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MUFG Union Bank names ex-Sterling CEO Seibly its president

02/06/20

Greg Seibly guided Sterling through the financial crisis before engineering its sale to Umpqua Holdings in 2014. He is currently CEO of the Federal Home Loan Bank of San Francisco.

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JPMorgan revamps digital strategy team after three leaders exit

02/06/20

JPMorgan Chase is staking its consumer-banking strategy on digital technology. In 2020, that push will be spearheaded by a new team of executives.

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Wells Fargo's latest high-level hire will oversee sales practices

02/06/20

Michael Cleary will report to Scott Powell, who had been his boss at Santander Bank.

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Gen Y likes advice it's getting from big banks: Survey

02/06/20

A new report from J.D. Power found that younger consumers increasingly believe the largest banks are better than regionals at providing financial guidance through digital channels.

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Frozen Wells Fargo bonuses show a peril for bankers after crisis

02/06/20

A new religion swept Wall Street after the 2008 crisis: Pay executives with stock, make them wait to collect it, and there will be fewer problems. Now a generation of executives retiring from Wells Fargo is experiencing what can happen to those payouts when new scandals arise.

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CFPB settlement would bar lender from doing business in 17 states

02/06/20

Think Finance, which had teamed with tribal lenders to offer high interest installment loans, could no longer make or collect on loans in states that have caps on interest rates, under terms of a proposed settlement with the Consumer Financial Protection Bureau.

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Boardroom war at Credit Suisse; HSBC still looking for CEO

02/06/20

The bank’s top shareholders want the chairman to quit if he won’t support the CEO; HSBC expected to go forward with job cuts while searching for permanent boss.

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