The banking industry could finally have answers soon on the degree of agreement between regulators reforming the Community Reinvestment Act, how they envision CRA zones of the future and other key matters. ... Read full article
Citizens Bank's Bruce Van Saun is our Banker of the Year; shake-up continues at Wells Fargo with poaching of Santander's CEO; the Navy commander behind the credit union banks love to hate; and more from this week's most-read stories. ... Read full article
The challenger bank might use the proceeds from its latest funding round to buy other fintechs that would allow it to add more products and services, its CEO said. ... Read full article
Moderates on the Financial Services Committee are attempting to block legislation that would extend the 36% interest rate cap on loans to military personnel to all consumers. ... Read full article
Bankers are disputing upstarts' claims customers don't like them, noting progress that traditional institutions have made in recent years. ... Read full article
The meeting scheduled for Dec. 12 will also include discussion of a proposal on the agency's definition of brokered deposits. ... Read full article
The two Democratic senators said the bureau's policy could allow companies to circumvent consumer finance laws. ... Read full article
Wealthfront could roll out a debit card, automated bill pay and direct deposit in early 2020, Chief Executive Andy Rachleff said. ... Read full article
A day after House Democrats urged the banking agencies to unite behind a joint plan to update the Community Reinvestment Act, Senate Democrats worried that an impending proposal from the OCC and FDIC will reduce access to credit. ... Read full article
The Treasury secretary suggested a role for lawmakers in containing any fallout with financial contracts stemming from the transition to a new interest rate benchmark. ... Read full article
The largest U.S. bank will share data through application programming interfaces with a sometimes-controversial data aggregator. ... Read full article
CEO Charlie Scharf said in a letter to Congress that a review is underway to determine how many customers were affected by confusion over monthly fees and that the bank will begin issuing refunds next year. ... Read full article
The country's top six banks were sideswiped by rising provisions for soured loans and slumping capital markets. ... Read full article
In search of new sources of revenue now that it has slashed fees on stock trades, the brokerage giant could use the influx of deposits it will get from acquiring its rival to grow its loan portfolio and add new banking services. ... Read full article
Sen. Elizabeth Warren introduced a bill to require CFPB approval for certain bank merger applications in the wake of regulators' approval of a deal between BB&T and SunTrust. ... Read full article
Lawmakers blasted an apparent decision by the OCC and FDIC to move forward with a proposal to reform the Community Reinvestment Act without the support of the Fed. ... Read full article
A 15-hour shutdown of online banking, mobile banking, ATMs and wire transfers was caused by a single data storage unit. BB&T's lawsuit blames the vendor, but the bank may have left itself too exposed to equipment failure. ... Read full article
A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system. ... Read full article
The decline in revenue from capital markets undercut gains in consumer banking and pushed fiscal fourth-quarter earnings below analysts’ expectations. ... Read full article
The online lender, which has received state approval to establish a virtual currency business, can now offer a full range of investment services — including trading in digital assets — in New York. ... Read full article
