Fed’s Quarles recuses himself from Wells-related actions

12/15/17

The Federal Reserve Board announced that Vice Chairman of Supervision Randal Quarles will recuse himself from matters related to Wells Fargo “to avoid even the potential appearance of a conflict of interest.”

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Bipartisan bill would allow more credit unions to add underserved areas

12/15/17

U.S. Reps. Gwen Moore and Paul Cook introduced a bill this week would allow more credit unions to expand their fields of membership to underserved communities.

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Challenger faces challenges; creating 'business technologists’

12/15/17

Ally has a lot of digital competitors, so Diane Morais is banking on customer centricity; Heather Cox plans to “levelize” the business and technology team at USAA; and outgoing Fed Chair Janet Yellen has achieved rock star status.

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Housing finance needs fixing, but it doesn’t need Fannie or Freddie

12/15/17

The government-sponsored enterprises are at the heart of our housing finance problems, not the solutions.

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Preserving the GSEs is key to preserving affordability

12/15/17

For decades, Fannie Mae and Freddie Mac helped working-class Americans get mortgages. That essential and powerful role in the national economy is fading.

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Meet the new risks, same as the old risks: Trump's FSOC shares many Obama-era fears

12/14/17

The Trump administration's first interagency assessment of systemic risk highlighted many of the same worries as previous reports, but added a new emphasis on economic growth and regulatory tailoring.

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Despite court win, OCC still faces legal 'landmine' over fintech charter

12/14/17

The dismissal of a lawsuit challenging the creation of a fintech charter gives the agency more time to refine its policy, but the court ruling may set up future legal challenges.

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L.A warns banks: Don’t set sales goals if you want city's business

12/14/17

A measure passed by the city council, which still needs final approval, would require banks that want city contracts to disclose whether they set individual or branch-level sales requirements. It comes in response to the Wells Fargo fake account scandal.

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For midsize banks, what’s the point of a holding company?

12/14/17

The holding company structure makes sense for large banks with complex business models and small banks looking to bulk up through acquisitions. But for a large swath of banks in the middle, the benefits are harder to spot.

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BofA adds MIT scientist to board of directors

12/14/17

Maria Zuber, who oversees research administration and policy at MIT, has been appointed to the board's enterprise risk and corporate governance committees.

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