It has already been modifying more problem loans and investing in efforts to recover charged-off loans, and now the credit card lender is ready to tighten underwriting in case the economy weakens. ... Read full article
As Congress continues to seek answers about the proposed ccryptocurrency, the appearance by Facebook’s CEO cast further doubt on the project’s future. ... Read full article
Congress should get behind the Fed's effort to launch a real-time payments service instead of getting in its way. ... Read full article
A regulatory cloud still follows fintech companies following a judge's decision throwing out the Office of the Comptroller Currency’s special-purpose charter. ... Read full article
The company says the upgrade will support future digital investments. It also said Tuesday that third-quarter profits climbed 8% but reported a sharp increase in criticized business loans. ... Read full article
The Corporate Transparency Act would require companies to report their true owners to the Financial Crimes Enforcement Network, removing the burden of banks to collect beneficial ownership information about their clients. ... Read full article
Amid concern that an economic downturn is approaching, Greg Carmichael said that banks need to focus on credit quality and not worry about expanding their balance sheets. ... Read full article
At a House hearing covering a whole host of housing finance reform topics, Fannie Mae and Freddie Mac's regulator said "if the circumstances" call for eliminating investors, "we will." ... Read full article
The Massachusetts senator and presidential candidate warned the Treasury secretary not to use the incident as a rationale for weakening regulations. ... Read full article
With the social media giant under heavy scrutiny for its cryptocurrency plan, the company's CEO plans to tell lawmakers that the Libra Association will take the lead. ... Read full article
The Treasury secretary repeated his concerns about the social media giant's proposed cryptocurrency, one day before Mark Zuckerberg is expected to face tough questioning from House lawmakers. ... Read full article
The Columbus, Ga., company had been counting on increased volume to offset a squeeze in net interest margins. ... Read full article
Ellen Alemany said that CIT's deal for Mutual of Omaha Bank will immediately lower the bank's deposit funding by 20 basis points. She also reiterated that the acquisition would make CIT more attractive to potential buyers. ... Read full article
The deal, which is expected to close in mid-2020, would create a company with nearly $18 billion of assets and more than $14 billion of deposits. ... Read full article
The new CEO is the first outsider to head the scandal-ridden bank in decades; Facebook CEO faces the House Financial Services Committee on Wednesday to discuss Libra. ... Read full article
A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, the consultancy said in its annual review of the industry released this week. ... Read full article
Facebook’s cryptocurrency would not help underserved communities, despite the claims of its CEO, who is slated to appear before Congress this week. ... Read full article
U.S. Bancorp is eliminating thousands of branch workers as it adjusts to changing customer preferences, according to a person briefed on the decision. ... Read full article
Will the justices go further than answering constitutional questions about the bureau's leadership structure? ... Read full article
Complaints that banks, credit unions and nonbanks compete on an uneven playing field should be heard, just as community banks must take seriously the threats from high-tech rivals, says Julie Stackhouse, a retiring supervision official at the St. Louis ... Read full article
