GOP senator wants probe into vetting of CFPB deputy

01/05/18

Sen. Ron Johnson, R-Wis., has called for an investigation into how CFPB Deputy Director Leandra English was approved for a permanent civil service job at the agency.

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Capital markets foe seeks an end run via blockchain

01/05/18

Overstock CEO and Wall Street gadfly Patrick Byrne wants to create a market free from trading practices he has long decried.

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Perks repackaged: Banks use own employee benefits as marketing tool

01/05/18

SunTrust and First Republic are taking benefits they offer to their workers, such as financial wellness training and student debt repayment, and extending them to corporate clients as benefits they can offer to their own employees. In doing so, they are strengthening relationships with valuable commercial customers.

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Banks, retailers, tech firms make rare joint call for federal data security rules

01/05/18

Twenty-two trade groups, including seven financial trade groups, sent a letter to House lawmakers calling for new data security standards that would preempt state law.

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‘Incompetence reigns in the Senate': Comments of the week

01/05/18

Readers react to President Trump considering a credit union regulator to head of the Consumer Financial Protection Bureau, debate a delay for top banking nominees, opine on the value of blockchain, and more.

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Don’t let a credit union regulator run the CFPB

01/05/18

The Trump administration should not name J. Mark McWatters as head of the consumer agency, given his lack of experience overseeing commercial banks and his leadership of the National Credit Union Administration, a cheerleader for the industry it supervises.

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CFTC to move on bitcoin; Citi fined in AML case

01/05/18

Agency plans to address issues and regulation of cybercurrencies; OCC says the bank failed to fix problems cited in a 2012 consent order.

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The tech giants are coming for your customers. Be ready

01/05/18

Banks still have advantages in the battle against big tech firms like Amazon and Facebook, but they will need to capitalize on those to survive.

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Double-booking glitch at Capital One a red flag for all banks

01/04/18

Customers saw transactions recorded multiple times and experienced drained accounts and long hold times. It’s a warning to all financial institutions as they head further into mobile-only banking — glitches are more visible and painful and need to be addressed faster than ever.

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Citibank fined $70M for failing to fix BSA deficiencies

01/04/18

The OCC said Thursday that the bank has yet to fully meet the conditions of a 2012 consent order requiring it to address problems in its Bank Secrecy Act and anti-money-laundering compliance programs.

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