Gould floats bare-bones resolution planning revamp
Comptroller of the Currency Jonathan Gould said Friday afternoon that regulators should scale back what he characterized as costly and ineffective bank-prepared resolution plans and shifting resolution responsibility onto bank regulators.
MUSA designated primary dealer by New York Fed
MUFG Securities Americas is designated a primary dealer by the New York Fed; Founders Bank appoints Chris Lipscomb its senior vice president and chief lending officer; the Independent Community Bankers of America names Charles Yi senior executive vice president of government relations; and more in this week’s banking news roundup.
Regions has what it needs to compete in the Southeast: CEO
The Huntsville, Alabama-based regional bank is well-positioned to defend its Southeast footprint, according to CEO John Turner. It’s hiring more bankers in growth markets, it has strong brand recognition and it has a long history in its core markets, he said.
PNC’s Demchak vows to bring the fight from coast to coast
“We’re coming into your market,” PNC Chief Executive Bill Demchack said Friday. “If you’re not coming into our market to come fight us, we’re coming to your market to come fight you, and we’re going to get some percentage of your market.”
Improved credit quality at M&T helps push earnings higher
During the fourth quarter, the Buffalo, New York-based bank reported its lowest ratio of nonperforming loans to total loans since 2007.
Senate Dems probe banks on role in Trump’s Venezuelan oil plans
Warren, Wyden, Whitehouse, Welch and Schatz say administration’s memo contradicts public statements, want more answers on whether the administration is working with top U.S. banks to funnel money out of the South American nation.
Voluntary ‘Trump card’ idea lowers risk of legislation
White House National Economic Council Director Kevin Hassett said Friday that the administration expects banks to voluntarily issue “Trump cards” with 10% rate caps, a move that could quell Congress’ moves to impose a cap through legislation — but that’s no guarantee.
While banks trash card restrictions, merchant lobbyists are cheering
Merchant groups are not taking a position on President Donald Trump’s threats to cap interest rates, but they are bullish on the president’s endorsement of the Credit Card Competition Act.
Fed’s Bowman ‘continues to see downside risk’ to labor market
Federal Reserve Vice Chair for Supervision Michelle Bowman warned that labor market conditions could weaken further and said the central bank should avoid signaling a pause in monetary policy.
If policymakers really support small banks, they have one obvious task
Data collected by the Conference of State Bank Supervisors demonstrates a huge disparity in compliance costs between large and small banks. Policymakers in Washington who claim to support community banks must act to reduce regulatory burden.