Fed to new Deutsche Bank CEO: Fix this bank — fast
Christian Sewing doesn’t only have to reshape the company, revive profits and improve morale, he has to get regulators off Deutsche Bank’s back. ... Read full article
Christian Sewing doesn’t only have to reshape the company, revive profits and improve morale, he has to get regulators off Deutsche Bank’s back. ... Read full article
JPMorgan and Santander show off their uses for the technology; commercial and industrial loans outstanding are rising. ... Read full article
The bank, in conjunction with iCapital Network, is slashing requirements to participate in certain alternative investments that it once offered mainly to institutions or the ultrarich. ... Read full article
Acting CFPB Director Mick Mulvaney has dropped agency plans to crack down on overdraft programs and large marketplace lenders. Here's what else he's changing. ... Read full article
It's too late for Congress to overturn the consumer bureau's regulation on short-term lending, but acting Director Mick Mulvaney will have plenty of chances to reshape it. ... Read full article
There's no reason that today's millennial-friendly microinvesting apps can't switch focus from spare change to real assets, industry executives warn. ... Read full article
Mark Begor said Wednesday that banks and other customers will receive regular updates on the credit reporting agency’s efforts to improve its cybersecurity in the wake of last year’s massive data breach. ... Read full article
Jack Dorsey, speaking to a crowd of cryptocurrency enthusiasts, showed he was completely in sync with their view that digital currencies are the way of the future. ... Read full article
The Securities and Exchange Commission is pitching a fake initial coin offering to educate investors on the pitfalls of too-good-to-be-true ventures. ... Read full article
The Federal Reserve should think about dialing back its demand that foreign banks in the U.S. have an especially amplified ability to absorb losses, Vice Chairman Randal Quarles said at a Wednesday conference. ... Read full article
Google's new voice assistant technology may be the best right now at imitating human speech. That makes it a potentially powerful tool for bankers — and for cybercrooks. ... Read full article
Bigger credit unions present a formidable challenge for banks in areas such as business lending. ... Read full article
Silicon Valley Bank expects to receive a banking license from Germany's Federal Financial Supervisory Authority by the end of May and to open its first German location in Frankfurt in the coming weeks. ... Read full article
Circle Internet Financial says it is now worth $3 billion following latest funding round; proposed changes would give banks more leeway to make some trades. ... Read full article
Bank executives embrace the idea of artificial intelligence and say it will create jobs, while analysts say it will reduce jobs. Employees are anxious about AI but willing to try to work with it. All agree AI is already making an impact. ... Read full article
After months of delay, the House is planning to vote on legislation next week that would amend the Dodd-Frank Act. ... Read full article
Equity warrants. Capital calls. Off-balance-sheet accounts. SVB's unusual business model thrives on financing rainmakers and cutting-edge firms, but old-school issues like overconcentration, unpredictable fee income and stock market swings lurk in the ... Read full article
Acting CFPB Director Mick Mulvaney suggested that digital mortgages should be held to different standards than ones originated by credit unions and banks. ... Read full article
President Trump has nominated Michael Bright, the current acting president and chief operating officer of Ginnie Mae, to head the agency full time. ... Read full article
The proposed change would give banks more leeway in making trades and put more onus on regulators to challenge their judgments, sources said. ... Read full article