The comptroller, now a year and a half on the job, discusses his attempts to revamp the supervision process for national banks and make the agency run more efficiently.
The Illinois bank is buying a bank formed in the 1970s to serve Cuban-Americans.
Vernon Hill's U.K. bank sold $479 million of new stock and issued fresh details about its turnaround efforts. Those included plans to cease its controversial practice of purchasing design and branding services from a business owned by Hill's wife.
His administration is looking at different alternatives to reform the housing finance system.
Undeterred by setbacks in other cities, a broad coalition of community groups is seizing on popular mistrust of traditional banks to press the case for a city-owned bank.
The AGs say the agency's plan to rescind ability-to-repay requirements for payday loans undermines their ability to enforce their own laws.
JPMorgan Chase is buying InstaMed, a cloud-based health care payments platform that’s seen significant growth in recent years from consumer medical payments.
Pangea says it is developing a digital account after customers complained that the bank relationship they had wasn't "for them."
As CFPB mulls privatizing database, consumer complaints are on the rise; an argument for continued human oversight of artificial intelligence; how some banks are luring talent from big tech; and more from this week's most-read stories.
The moves are part of a plan by CEO Rajinder Singh discussed in a conversation with American Banker.
The White House is considering Derek Kan, an undersecretary at the Department of Transportation, for one of two open seats on the Federal Reserve Board, according to two people familiar with the matter.
The U.S. and Europe should continue to harmonize their banking rules, including for foreign banking operations, just as they did in the wake of the financial crisis.
Heritage will have 17 branches around San Francisco when it completes the $200 million acquisition.
Financial advisory firm hopes to double in size in three years leveraging Goldman’s resources; bank had about £1 billion worth of orders.
Readers consider a Senate Banking Committee investigation into Facebook's use of consumer data, weigh the value of the CFPB's complaints database, debate legislation that would require big bank executives to testify before Congress annually and more.
Farmers were already taking on more debt to cover losses from falling crop prices. New tariffs and other retaliatory moves could hurt ag borrowers further and lead to loan losses and tighter underwriting.
Some of the biggest venture capitalists in the field are backing a new digital currency being offered by a leading blockchain academic.
Regions Financial said Thursday that it will not renew its contract with GreenSky — a move analysts say could prompt other banks to re-examine their lending arrangements with the fintech.
The official told lawmakers Thursday that the research underlying its 2017 payday rule proposal did not support strict underwriting requirements of small-dollar loans.
Craig Phillips, who has been developing the Trump administration's plan to help free Fannie Mae and Freddie Mac from conservatorship, will leave Treasury next month.
Democrats and Republicans on the House Financial Services Committee called for steps to minimize the harm to community banks and credit unions bracing for the new accounting standard.
Azlo, a San Francisco-based platform, will offer customers the ability to apply for a Kabbage loan through a new program called Mission Street Capital.
A federal judge has given preliminary approval to the proposed settlement of a lawsuit under which insurance companies have agreed to pay $240 million for losses the San Francisco bank incurred from the widespread opening of fake accounts.
Police and city agencies can no longer use facial-recognition technology, which civil liberties groups say infringes on human rights. The measure may be an ominous sign for biometric login authentication.
The American Institute of Certified Public Accountants says banks are fighting accounting fatigue — thank CECL for that — and wants the FASB to push back a deadline for privately held firms to put operating leases on their balance sheets.
Meridian Corp. may have breached sales agreements after originating nearly $100 million in loans in a state where it lacked a license.
Banking officials can reasonably disagree on new standards for current expected credit losses, but the accounting body developed the rules over many years and based them on extensive feedback.
The company offers an operating system for financial applications akin to Apple's iOS, and more than a thousand applications run on it.
Royal Bank of Scotland and JPMorgan Chase were also among the five banks that agreed to pay fines for colluding on foreign-exchange trading strategies.
Agency says it will vet Timothy Sloan’s successor; Eric Blankenstein, who came under fire for 2004 racist blogs, to step down.
Although the euphoria over blockchain has dissipated recently, many still see it as vital to the future of banks and the economy at large. Following are key issues being hashed out.
Presidential candidates aren't talking about banking now, but that's likely to change as the Democratic primary heats up.
As Metro Bank’s problems mount, calls for Hill’s ouster as chairman are getting louder.
As evidenced by a Senate hearing, Republican and Democratic lawmakers still live in alternative universes when it comes to financial regulatory policy.
Draft legislation to make annual testimony mandatory for the chiefs of the largest banks was added to the agenda of a House Financial Services Committee hearing set for Thursday.
Under the Treasury Department's Financial Agent Mentor-Protégé program, JPMorgan Chase is advising two black-owned banks on working with the agency in ways that could boost their fee income.
Eric Blankenstein, the CFPB's policy director for supervision, enforcement and fair lending, has been criticized for using a racial slur in blog posts 15 years ago and claiming the majority of hate crimes were hoaxes.
The Italian family that founded a bank in the 14th century and pioneered branches and letters of credit is now setting up a tech-forward, crypto-friendly disruptor in the United States.
The total includes donations to community groups helping low-income people, support for the development of financial coaching programs and investment in the creation and testing of fintech tools that can help underserved people.
A recent court decision allowing New York’s financial regulator to proceed in a case meant to block the Office of the Comptroller of the Currency from offering fintechs a new federal banking charter is having a chilling effect on potential applicants.
Over a dozen progressive lawmakers urged the central bank to reverse its course and protect bank regulations enacted after the financial crisis.
The private sector will be able to provide more efficient and innovative technologies for the industry.
The Defense Credit Union Council and the Association of Military Banks of America sent dueling letters to Congress about whether banks should pay for space on military installations.
"Institutional support" spurs cryptocurrency price gains; the regulation limits what banks can charge for going negative on accounts.
Ask 453 bankers their forecasts on loan demand and the economy, or their feelings about the BB&T-SunTrust merger, pot banking as well other hot issues, and a clear picture emerges. Promontory Interfinancial Network recently did just that, and here our five takeaways from the results.
The New York bank says it acted appropriately in withholding the collateral on a loan to a developer that First Foundation Bank later refinanced. First Foundation’s CEO begs to differ.
Rep. Carolyn Maloney said Tuesday that her legislation aimed at restricting anonymous shell companies could get a vote in the Financial Services Committee as early as the end of June, after consideration was postponed last week.
The Nashville, Tenn., company hired Tim Schools from Highlands Bancshares to succeed founding CEO Claire Tucker.
In his first public policy speech as director of the Federal Housing Finance Agency, Mark Calabria stressed that Fannie Mae and Freddie Mac will have to raise significant capital via a public offering and take other steps in order to escape government control.
The new capital will allow the Austin bank to increase its lending limit.
A bipartisan pair of senators has revived legislation that would prohibit Congress from using certain fees collected by Fannie Mae and Freddie Mac to offset unrelated government spending.
The Wild West of cryptocurrency trading is getting something typically associated with the safest of savings accounts: FDIC protection.
Intense competition for information technology pros is forcing community banks to recruit from outside the financial industry.
It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed.
Digit's savings app, relying on JPMorgan Chase's new real-time payments service, will offer customers an instant withdrawals feature that uses savings as a cushion against checking overdraws.
Banks need to foster greater knowledge and collaboration across all employee teams to put artificial intelligence to good use.
The bank plans rollout of a global cash management business; the lead Democrat on the Senate Banking Committee “not optimistic” about privatization.
The forces reshaping small-business lending are also leading to “a moment of reckoning” for small banks, says former SBA head Karen Mills.
Lawmakers are taking a closer look at the company’s data collection practices and its work on cryptocurrency payments, raising the possibility of more action down the line.
New posts for two women executives at JPMorgan Chase spur a fresh round of speculation about the race to succeed CEO Jamie Dimon someday. And Comerica's heir apparent finally gets the call.
Brian Johnson, a Republican political appointee at the CFPB, has been named the agency's deputy director, the No. 2 job behind Director Kathy Kraninger.
The Illinois company will gain six offices after it buys Investors' Security Trust.
The agency launched a review to gauge whether the regulation requiring consumers to opt in to overdraft protection “should be amended or rescinded” to minimize the effects on smaller financial institutions.
The ranking Democrat on the Senate Banking Committee says he wants answers from the Financial Stability Oversight Council on efforts to address corporate debt risks.
Manuel Alvarez, who became commissioner of the Department of Business Oversight on Monday, is the former general counsel and chief compliance officer at the online lender Affirm.
The U.S. government stepped up collections on delinquent student debt to $2.9 billion last year — or an average of $1,000 from 2.9 million former students and their cosigners, according to the Treasury Department.
Some banks have backed away from the technology, but Northern Trust, State Street and JPMorgan Chase are among those actively working on blockchain projects.
On Dec. 31, 2018. Dollars in thousands.
New legislation in Iowa that allows banks and credit unions to utilize electronic notaries could help local lenders compete with online competitors.
On Dec. 31, 2018. Dollars in thousands.