Agencies closer to joint polices on CRA, small-dollar loans: FDIC head
Jelena McWilliams said federal bank regulators could begin "within a week or so" to discuss a draft proposal for reforming the Community Reinvestment Act. ... Read full article
Jelena McWilliams said federal bank regulators could begin "within a week or so" to discuss a draft proposal for reforming the Community Reinvestment Act. ... Read full article
A year after it debuted, Bank of America's virtual assistant now counts some 150,000 users per week. It's one of the only large institutions pushing such technology. ... Read full article
The data aggregator plans to help U.S. fintechs expand into the U.K. and vice versa. ... Read full article
It's tempting to reach for higher returns on securities in anticipation of tightening margins. However, that strategy has pitfalls, including underestimating risks or being caught flat-footed by future rate moves. ... Read full article
The agency's spring rulemaking agenda includes the process for collecting small-business data as well as underwriting rules for GSE-backed loans. But what's missing from the list may be just as important. ... Read full article
Steve Hagerman, who was responsible for the first mortgage platform at JPMorgan Chase, will be head of consumer lending technology at Wells. It also named Gary Owen, a veteran of WarneMedia, Promontory Financial and Citi, its chief information security ... Read full article
The Federal Reserve Bank of New York said two of its top officers are departing — including Simon Potter, who oversees its strategically vital trading desk — in a rare double exit from its senior ranks. ... Read full article
Raisin is planning to create an online marketplace for high-yield savings accounts and CDs for the U.S., but persuading Americans to save could be a challenge. ... Read full article
Global Payments' purchase of TSYS is the latest merger of large payment technology companies — and by no means the last. ... Read full article
The JPMorgan chief executive said he couldn't understand why Wells Fargo could have CEO Tim Sloan step down without a successor ready to go. ... Read full article
TSYS and Global Payments have announced a merger deal of about $21.5 billion, the third M&A deal in the financial/fintech industry of more than $20 billion this year, and the latest in a series of deals of all sizes. ... Read full article
Wells began rolling out its online-bank brand in November. Peggy Mangot, senior vice president and head of Greenhouse development, shares what she’s learned so far. ... Read full article
Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act. ... Read full article
More businesses are considering moving away from cash and checks, according to a recent survey by Citizens. That should be a wake-up call to smaller institutions, said Michael Cummins, who oversees treasury solutions at the regional bank. ... Read full article
In the past few years, APIs have become a surprisingly hot topic, considered by many as a golden key to open banking and innovation. ... Read full article
Calls for getting more women into leadership positions, and strategies for achieving that, dominated the LEAD conference in New York. ... Read full article
In a state where laws are unusually favorable to high-cost business lenders, taxi drivers are not the only small-business people getting trapped in loans they can't afford to pay back. The question is, what are policymakers going to do about it? ... Read full article
President Donald Trump doubled down on his fight to stop House Democrats from getting his financial records after losing two court battles this week, filing swift appeals in both cases. ... Read full article
Jury's out on whether BB&T-SunTrust will serve the community or Wall Street; 'we were willing to shock historical norms,' says Otting on OCC's makeover; is it too late for Congress to stop CECL?; and more from this week's ... Read full article
The digital banking provider Simple has been part of BBVA for five years, and its reputation as an easy way to handle and transfer digital money has only grown in that time frame through the addition of faster payments and P2P services. ... Read full article