The new leadership of the House Financial Services Committee appears intent on subjecting Wall Street to a harsher spotlight, but banks shouldn’t be too sure the new minority has their backs, either.
Banks that gather deposits through branches generally pay lower deposit premiums than those that solicit deposits online. So what happens if long-standing restrictions on brokered deposits are relaxed?
In a lengthy report released Wednesday, the bank pledged to protect whistleblowers, better handle customer complaints and re-examine its lending practices.
Federal Reserve Chairman Jerome Powell said a messy breakup between the United Kingdom and European Union could pose risks to the economy and financial system.
Banks use anti-money-laundering and fraud systems to try to catch scams that prey on senior citizens. A few, including Wells Fargo, are working on artificial intelligence that could spot them even earlier.
The Trump administration will offer a framework and get Congressional input on housing finance; some online banks offer more than 2% interest on deposits.
