banking news today
- Banking
What’s fueling torrid loan growth at one Seattle bank
When lending at Seattle’s WaFd Bank increased to a record $6 billion in 2020, it was reasonable to think the…
Read More » - Banking
American Express is ending COVID vaccine requirement for offices in November
American Express is ending a requirement that employees need to be vaccinated against COVID-19 to enter offices as virus cases…
Read More » - Banking
What the White House’s blueprint for an AI bill of rights means for banks
The White House has published an AI Bill of Rights that instructs banks and other companies on the kinds of…
Read More » - Banking
Can Fincen deliver on promised regulatory relief?
WASHINGTON — The Treasury Department finalized its beneficial ownership rule last week, but left timing on the elements that banks…
Read More » - Banking
Fed warns that Custodia suit could upend ‘careful balance’ of authority
The Federal Reserve is using Custodia Bank’s own marketing materials to refute the company’s claim that it poses no new…
Read More » - Banking
Crypto overhaul fizzles in Congress, leaving industry and investors in limbo
U.S. lawmakers’ efforts to pass significant crypto legislation by the end of the year are on life support, leaving in…
Read More » - Banking
Citi to offer 7-day sweeps as clients seek faster services
Citigroup plans to offer automatic-sweep products seven days a week as banks respond to clients’ demands for higher interest rates…
Read More » - Banking
Most Powerful Women in Banking: No. 22, Jill Castilla, Citizens Bank of Edmond
Jill Castilla is growing her main bank – and its remote affiliate. Citizens Bank of Edmond’s asset size grew 13%…
Read More » - Banking
Most Powerful Women in Banking: No. 9, Stacey Friedman, JPMorgan Chase
Reflecting on two decades of changes in the banking industry, Stacey Friedman, executive vice president and general counsel at JPMorgan…
Read More » - Banking
EU puts crypto at top of list for IMF meetings
The European Union is looking to exchange views on the development of crypto legislation with U.S. officials during next week’s…
Read More » - Banking
Most Powerful Women in Banking: No. 25, Deborah Guild, PNC Bank
As a technology executive for PNC Bank, Deborah Guild has long been helping women blaze career pathways in the business…
Read More » - Banking
Most Powerful Women in Banking: No. 11, Diane Morais, Ally Bank
Diane Morais says that what’s good for customers is ultimately good for business. With that philosophy in mind, she helped…
Read More » - Banking
Most Powerful Women in Banking: No. 3, Jennifer Piepszak, JPMorgan Chase
JOE VERICKER PHOTOBUREAU INC The consumer and community banking division at JPMorgan Chase surpassed $1 trillion in deposits in 2021,…
Read More » - Banking
Most Powerful Women in Banking: No. 2, Marianne Lake, JPMorgan Chase
For Marianne Lake, innovation is not a straight line. “You can zig, you can zag, you can bob, you can…
Read More » - Banking
Most Powerful Women in Banking: No. 15, Amy Brady, KeyBank
As KeyBank relies more heavily on automation and cloud-based services, Amy Brady knows the bank will need more engineers. But…
Read More » - Banking
Why the administration is letting crypto burn
I’ve touched on this before, but as we embark on what may be the first plain-vanilla recession of the 21st…
Read More » - Banking
Missouri banker leads slate of new ABA officers, directors
The American Bankers Association elected its board and officers for the coming year at the trade group’s annual convention Tuesday.…
Read More » - Banking
New York Fed taps BlackRock executive as legal counsel
NEW YORK — The Federal Reserve Bank of New York has hired a BlackRock executive to lead its legal division. …
Read More » - Banking
TD hires former Citi executive to run U.S. credit card business
TD Bank has hired longtime Citigroup executive Christopher Fred as its new head of U.S. credit cards and unsecured lending,…
Read More » - Banking
What buy now/pay later fintechs can expect next from the CFPB
No draconian rule-making has yet resulted from the Consumer Financial Protection Bureau’s recent examination of top buy now/pay later fintechs’…
Read More » - Banking
How banks can ward off competition for small-business clients
The traditional banking industry may need to improve its small-business product offerings to avoid losing customers to a new crop…
Read More » - Banking
‘Regulation is not cost-free’: Fed’s Bowman urges caution on rule changes
Federal Reserve Gov. Michelle Bowman said the central bank should proceed with caution as it reconsiders various aspects of the…
Read More » - Banking
Mastercard extends small-business inclusion effort to U.S.
One of the surprising outcomes of the pandemic was the sustained surge in small-business startups. A record 5.4 million people…
Read More » - Banking
GOP-led states sue over Biden’s student loan forgiveness plan
The Biden administration was accused in a lawsuit by six Republican-led states of overstepping its authority with a plan to…
Read More » - Banking
Bank regulators to provide supervisory relief in wake of hurricanes
State and federal regulators are encouraging banks to work with borrowers hit hardest by Hurricanes Fiona and Ian this month.…
Read More » - Banking
Watchdog report finds top banks fall short on acting to protect democracy
American Capital Building in Washington DC at Dusk.W.Scott McGill – stock.adobe.com Three of the largest U.S. banks are failing to…
Read More » - Banking
As banks shutter branches, credit unions continue to build
The COVID-19 pandemic forced credit unions to rethink the function of branches, but recent data shows that they continue to…
Read More » - Banking
SEC says backers of crypto token Hydro ‘airdrop’ broke its rules
The company behind the digital coin Hydro and a crypto market-making firm tried to artificially inflate the token’s price after…
Read More » - Banking
For community banks, net interest margin pressure looms large
Community bankers are increasingly concerned about the downsides of rising interest rates — notably, weaker economic conditions and upward pressure…
Read More » - Banking
Bank-fintech partnerships don’t need more regulation
In the aftermath of the global financial crisis, fintech companies burst onto the scene with a dizzying array of exciting…
Read More » - Banking
Overdraft fees again land Regions in hot water with CFPB
For the second time in seven years, Regions Bank is being penalized by the Consumer Financial Protection Bureau for charging…
Read More » - Banking
Democrats unveil bill to restrict trading by lawmakers, presidents
A House proposal to restrict stock ownership and trading by members of Congress, the president and vice president, Supreme Court justices and…
Read More » - Banking
Madoff victims to get $372 million in new payments from DOJ fund
Victims of Bernard Madoff’s massive Ponzi scheme will soon get another $372 million in payouts, bringing the total amount distributed…
Read More » - Banking
Scotiabank stock faces worst year since 2008 as new CEO enters
Bank of Nova Scotia shares are on pace for their worst year since 2008 as analysts warn of weakness in…
Read More » - Banking
Lawmakers join Custodia’s legal battle with KC Fed over master account
Seven Republican lawmakers have joined the effort to compel the Federal Reserve Bank of Kansas City to give a financial…
Read More » - Banking
First Republic bolsters New York wealth management team with Merrill hires
First Republic Bank has hired a New York area team of wealth managers from Merrill Lynch. The nine-person team is…
Read More » - Banking
President Biden cites bank ‘junk fees’ as weighing down families
Cracking down on so-called ‘junk fees’ is turning out to be good politics. President Biden admonished banks and specifically mentioned…
Read More » - Banking
Citigroup to dissolve consumer banking in UK
Citigroup is planning to dissolve its consumer banking business in the United Kingdom as part of a companywide initiative to…
Read More » - Banking
How JP Morgan Chase and other banks plan to use quantum computing
Though quantum computing technology is still new, JP Morgan Chase, Ally Bank, Credit Agricole and other banks are actively testing…
Read More » - Banking
With rates soaring, Florida community bank bails on national mortgage lending
BayFirst Financial Corp. in St. Petersburg, Florida, said it planned to get out of the national mortgage business, citing rapidly…
Read More » - Banking
Credit Suisse weighs possible U.S. market exit, Reuters says
Credit Suisse Group is weighing an exit of the U.S. market as one option for its strategic revamp, Reuters reported. …
Read More » - Banking
Citizens continues shift to green energy by partnering with Danish firm
Citizens Financial Group is partnering with the Danish sustainable energy firm Ørsted in a deal that will fuel the bank’s…
Read More » - Banking
Bank robberies in VR: How BofA is training staff for stressful encounters
What’s the best way to help employees prepare for the worst-case scenario? For Bank of America, the answer is: rehearse. …
Read More » - Banking
Wall Street banks set to lose about $600 million on Centrix debt
Wall Street banks are poised to realize roughly $600 million of losses after offloading financing commitments for the buyout of Citrix Systems…
Read More » - Banking
Jamie Dimon slams crypto tokens as ‘decentralized Ponzi schemes’
Jamie Dimon didn’t mince words when a U.S. lawmaker mentioned the executive’s history of criticizing cryptocurrencies. “I’m a major skeptic…
Read More » - Banking
QuickBooks updates payroll tech to aid small-business recovery
Small businesses are still dealing with the supply chain and payroll challenges that emerged during the pandemic, creating opportunities for…
Read More » - Banking
Draft bill lets nonbanks issue stablecoins, bans algorithmic coins for two years
WASHINGTON — Nearly-finalized legislation between Democrats and Republicans on the House Financial Services Committee would authorize the Federal Reserve to…
Read More » - Banking
NCUA awards second federal charter of 2022
The National Credit Union Administration has granted its second federal charter of the year. The recipient is People Trust Community…
Read More » - Banking
SEC suit hints at case for U.S. jurisdiction over ethereum network
The saga over cryptocurrency regulation took another twist courtesy of a comment buried in a Securities and Exchange Commission lawsuit…
Read More » - Banking
Morgan Stanley to pay $35 million SEC fine over data security
Morgan Stanley will pay $35 million to settle Securities and Exchange Commission allegations that one of its units failed to…
Read More »
