Showdown at the CFPB; Westerman bolts HSBC
Cordray picking his own interim successor sets off a firestorm; co-head of global banking leaves the U.K. bank after only 18 months. ... Read full article
Cordray picking his own interim successor sets off a firestorm; co-head of global banking leaves the U.K. bank after only 18 months. ... Read full article
The most important policy question facing banking, brokers and insurance companies is putting a framework in place that very quickly defines data ownership rights across the financial value chain. ... Read full article
A lawsuit by CFPB Deputy Director Leandra English against the Trump administration is expected to challenge Mulvaney's appointment on two counts: that the president would directly control an independent agency and that it violates the succession plans ... Read full article
Beth Mooney is taking KeyCorp to new heights through bold deal making and with a relentless commitment to doing what's right for customers, employees and communities. ... Read full article
There is a possibility that there could soon be two individuals declaring themselves the rightful leader of the Consumer Financial Protection Bureau. ... Read full article
CFPB Director Richard Cordray abruptly announced Friday that he would leave at the end of the day, giving the reins of the agency to a new deputy director. ... Read full article
The U.S. needs to cut corporate tax rates to keep businesses from moving abroad, even if that means raising rates for wealthy individuals and removing the carried interest tax break for investment managers, said JPMorgan Chase Chief Executive Officer Jamie ... Read full article
The outcome of a case testing the president's power to fire a CFPB director will come too late to impact Richard Cordray, but may affect President Trump's interim and final picks to lead the agency. ... Read full article
The Federal Housing Administration's recent actuarial report has added more fuel to the fire over concerns about reverse mortgages, including their effect on the overall FHA insurance fund and a rise in foreclosures. ... Read full article
New York Venture Bank would be run be a former Square 1 executive and would feature former CFPB deputy director Raj Date on its board. ... Read full article
Borrowing from the startup world and some popular TV shows, Citigroup is encouraging employees to pitch innovative ideas to a panel of senior execs who could give them the green light to start work. ... Read full article
The most immediate threat to the safeguards underpinning a well-functioning banking sector involves the failure of regulators to hold banks accountable. ... Read full article
A decision to slash the equity required for most change-in-ownership loans could help the small-business lending program top its recent record. ... Read full article
Bank ponders assisting customers trading digital currency futures; banks still face challenges despite a good third quarter. ... Read full article
Bitcoin’s eight-fold surge in value this year is forcing Wall Street banks to balance clients’ interest in speculating on the cryptocurrency with executives’ skepticism about its future. ... Read full article
The trial of Stefan Buck was an unusual courtroom showdown in the decade-old fight by the U.S. against tax evasion aided by financial institutions in Switzerland. ... Read full article
Federal Reserve chair Janet Yellen said interest on bank reserves should remain the central bank’s primary monetary policy tool ... Read full article
The digital-currency startup, which markets software to banks, appears keen to signal that it wants to play by the rules. ... Read full article
The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit ... Read full article
The Consumer Financial Protection Bureau on Tuesday ordered Citibank to pay $6.5 million in consumer relief and penalties for student loan servicing failures. ... Read full article