Startup lender Petal launches its subprime credit card
The firm hopes to distinguish itself from other lenders by analyzing customer cash flow to determine the likelihood that borrowers will repay. ... Read full article
The firm hopes to distinguish itself from other lenders by analyzing customer cash flow to determine the likelihood that borrowers will repay. ... Read full article
The House Financial Services Committee is examining sexual harassment charges against FHFA director Watt. American Banker reporter Hannah Lang offers her take. ... Read full article
Jelena McWilliams knows the value of the FDIC’s role in a way most other Americans do not. Now she's in charge as it grapples with difficult questions and sets out to reshape the industry. ... Read full article
Executives at Wells Fargo, BBVA Compass, ATB, and Banco Popular share some of the pain points they've encountered as they've implemented artificial intelligence, and how they overcame them. ... Read full article
Spilkin's education in math and programming, uncommon in investment banking, has allowed her to bring a disruptive approach to problem-solving at Goldman Sachs. ... Read full article
When Stephanie Cohen earned the chief strategy officer’s job at Goldman Sachs in January, she was told she had a blank sheet of paper. Cohen responded by, among other things, launching an internal incubator for new business ideas. ... Read full article
Seven Republican senators urged regulators on Monday to consider additional changes to the Volcker Rule's "covered funds" definition. ... Read full article
Eric Blankenstein, a political appointee overseeing fair-lending policy at the agency, said in an email to staff that his blog posts from 14 years ago that used a racial epithet “reflected poor judgment.” ... Read full article
Fed Vice Chairman of Supervision Randal Quarles said in written tstimony that the central bank plans to move quickly to determine how to regulate banks between $100 billion and $250 billion of assets, and that it may provide also relief for banks over the ... Read full article
Stevens will step down this month as head of the Western region, which had been cited for widespread customer-integrity violations. However, she had been credited with raising concerns about aggressive sales practices. ... Read full article
The agency found that banks with less than $10 billion in assets were more prone than larger lenders to go beyond using standard criteria in evaluating borrowers. ... Read full article
First Foundation sold loans to Freddie Mac to free up space for higher-yielding credits. It then bought the securities that were formed to replace other, lower-yielding assets through an often overlooked program. ... Read full article
Sabet Elias has been named the trust bank's chief technology officer and will report to another BofA alum, Bridget Engle. ... Read full article
Wondering who is new to the rankings of the Most Powerful Women in Banking and Finance? Here's an overview of the changes, along with a recap of the top team winners. Plus, #MeToo plays out on Capitol Hill, as Mel Watt and Brett Kavanaugh get ... Read full article
Fintechs can get what they need from a traditional bank charter with the FDIC, as long as the agency is willing to play ball and step up its approach to innovation. ... Read full article
AmeriNational Community Services plans to form an industrial bank in Nevada. ... Read full article
The data strategy at Citizens Bank takes "know your customer" to another level, as Chief Marketing Officer Beth Johnson explains. ... Read full article
Laplanche agrees to a three-year securities industry ban and a small fine to settle SEC fraud charges on loan sales; analysts are expecting a "tepid" quarter as some trading activity suffers. ... Read full article
Facial recognition technology and a person-to-person payments app are just two innovations that have sprung from a workplace that fosters creative thinking and welcomes ideas from across the organization. ... Read full article
Britton has an important job now, supporting the CIO for one of HSBC's most important regions, but she hopes to someday be a regional chief operating officer, or perhaps even a CEO. ... Read full article