Seattle finds breaking up with Wells Fargo is hard to do
The city wanted to sever its relationship with the bank, but it ran into a big obstacle. ... Read full article
The city wanted to sever its relationship with the bank, but it ran into a big obstacle. ... Read full article
The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor. ... Read full article
Acting Consumer Financial Protection Bureau Director Mick Mulvaney is poised to dismiss its administrative proceeding against the mortgage lender, following a four-year battle over the agency's structure. ... Read full article
The OCC finds widespread problems in bank retail sales practices; Ripple and Swift competition for payments pits technology against convention. ... Read full article
The regulatory relief legislation rolls back several stress test requirements for regional and midsized banks, putting more onus on financial institutions and their regulators to ensure banks are managing their risk appropriately. ... Read full article
Bankers hope to claw back even more of the agency's rule rather than merely defend their partial victory in the judge's original split decision. ... Read full article
Bank of America says its artificial-intelligence assistant isn't likely to listen in on private conversations the way Amazon.com's Alexa did last month. ... Read full article
Bank of America's top technology officer says finance-industry workers get spooked about their jobs because of how bosses talk about tech. ... Read full article
An inquiry into the sales practices of more than 40 banks launched in the wake of the Wells scandal found several systemic issues and hundreds of problems at individual institutions. The OCC completed the review in December but is not making the results ... Read full article
Umpqua Bank has hired veteran lender Tom Farrell to help it grow its homebuilder finance group in California. ... Read full article
The low-cost deposits that come with the deal should fund the Michigan company's effort to become a commercial lender. ... Read full article
Most big banks are launching robo-advisers to compete for a new breed of wealth management customer. The risk is that automated services will disappoint traditional customers. ... Read full article
The Massachusetts senator and architect of the CFPB offered a sharp contrast to the administration's deregulatory agenda and sent strong signals of a presidential run. ... Read full article
Payday lending stocks are beating records. Mostly because they're no longer payday lenders. ... Read full article
The appointment of the former top lawyer at Fifth Third Bank rounds out the Trump administration’s picks to run the federal prudential banking agencies. ... Read full article
The Michigan company will buy 52 branches and $2.3 billion in deposits from the San Francisco banking giant. ... Read full article
Banks are making business customers happy with new digital billing services as machine learning meets the lockbox. ... Read full article
The agency’s acting chief has angered consumer advocates by refusing to hold meetings that they say are required by law. ... Read full article
Shahira Knight, the deputy director of the National Economic Council, is leaving the White House to join The Clearing House Association as its head of public affairs. ... Read full article
In opening offices in several German cities, Silicon Valley Bank is seeking out familiar kinds of high-tech customers in a new market. This is a venture any midsize bank could learn from. ... Read full article