An ex-regulator’s stern warning about the risks of sharing consumer information with fintechs has prompted debate over common security standards for banks and nonbanks, better data tracking and new liability insurance products.
Recent growth has come through acquisitions, including the 2015 purchase of a transportation finance business from General Electric and the 2011 takeover of Milwaukee-based Marshall & Ilsley.
The 2018 gubernatorial race will be watched closely both by bankers and consumer advocates to see whether Cordray's leadership of the Consumer Financial Protection Bureau becomes a campaign asset or a liability.
Sen. Elizabeth Warren, D-Mass., was the only member of the Senate Banking Committee to oppose the nomination of Federal Reserve Board Gov. Jerome Powell to lead the central bank.
Special prosecutor Robert Mueller zeroed in on President Donald Trump's business dealings with Deutsche Bank AG as his investigation into alleged Russian meddling in U.S. elections widens.
In a letter to President Trump, 44 Democratic senators said the White House's appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau "jeopardizes the agency’s independence and effectiveness."
Richard Cordray, whose resignation as director of the Consumer Financial Protection Bureau sparked a battle over the agency's leadership, plans to announce on Tuesday he's running for Ohio governor as a Democrat.
