CEO Greg Carmichael said Wednesday that online-only banks "aren't relationship-based" and that Fifth Third would stick to its plan of attracting new depositors by selectively expanding into new markets.
The head of the Federal Deposit Insurance Corp. previously had said regulators were weighing numerous options for addressing criticism of their 2018 proposal.
With several top candidates reportedly turning down the job, some insiders are reportedly lobbying the board to appoint C. Allen Parker as the bank's next CEO.
Director Mark Calabria urged lawmakers to grant the agency chartering authority similar to that of bank regulators to boost competition in the mortgage market.
Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers.
Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results.
Recent legislation zeroes in on letting financial institutions serve cannabis businesses in states where the substance is legal, but banks may stay on the sidelines if the federal ban on pot remains in place.
The large credit card issuers are becoming more selective about who they are extending credit to and how much they are willing to lend, their CEOs said Tuesday.
The investment firm is launching a company called Akoya that it says will help ease the technical aspects of data sharing, as well as disputes and liability issues, for banks, fintechs and data aggregators.
