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The legislation unveiled this week left out a requirement — included in an earlier version — for new companies to report their true owners. ... Read full article

The rule hews closely to a 2016 proposal but the central bank made a notable change to reflect a higher threshold for banks considered "systemically important." ... Read full article

Dan Heine and Diana Yates were accused of hiding Bank of Oswego's condition by inaccurately reporting bad loans. ... Read full article

With plenty of cash on hand, many commercial firms have had little need to tap existing credit lines. ... Read full article

TIAA has recruited Lori Fouché to serve as CEO of retail and institutional financial services. ... Read full article

The Atlanta bank has financed construction and other activities tied to nursing homes and related facilities mainly in its East Coast markets. It says the timing is good to tap into demand elsewhere in the country. ... Read full article

Security Group was fined $5 million for abusive collection tactics; the Dutch payments company is now valued at nearly $16 billion. ... Read full article

Competition for deposits is heating up as summer approaches, and banks are responding in all sorts of ways — from launching digital-only platforms to raising CD rates to reviving debit rewards. But rising interest rates could weaken demand for loans, ... Read full article

In his inaugural hearing as comptroller of the currency, Joseph Otting defended his decision not to publicly rebuke banks for Wells Fargo-like problems. ... Read full article

The CFPB ordered Security Group Inc. to pay $5 million for making illegal threats, including that consumers could go to jail. ... Read full article

Everyone agrees good corporate governance involves a board that is just the “right” size and has a “good mix” of knowledgeable insiders and independent watchdogs. But setting bright-line rules for banks as varied as M&T, Wells Fargo and Eastern Bank is ... Read full article

The agency will have to rework its strategy for amending its payday lending rule after a federal court rebuffed efforts to stop the rule from going into effect. ... Read full article

Royal Bank of Canada introduced a wave of technology initiatives in a bid to attract more tech-savvy customers who embrace a digital lifestyle. ... Read full article

Federal Reserve Chairman Jerome Powell said the agency has its hand full between proposals on liquidity and capital requirements and additional mandates made by the recently enacted regulatory relief law. ... Read full article

The House Financial Services Committee is preparing to vote on legislation to modernize anti-money-laundering rules, but the latest version of the bill excludes a key provision involving the collection of beneficial ownership information. ... Read full article

The simplified pricing of fintechs like Square and Stripe has finally caught up with banks' more complex fees, prompting Wells Fargo to restructure its billing for small businesses. Other banks will also face consequences—particularly community banks ... Read full article

The bank’s AI-driven virtual assistant, which lets people quickly search transactions and cancel subscriptions and other recurring charges, was an instant hit. But BofA will have to take a number of steps to sustain erica's early momentum. ... Read full article

The bank's head of investment management said Wednesday that his unit has eliminated dozens of high-cost funds over the last two years and replaced them with more passive investment vehicles. ... Read full article