Wells Fargo hires a D.C., Wall Street insider as its latest vice chair
Thomas Nides, a former U.S. ambassador to Israel and longtime Morgan Stanley executive, will take over the megabank’s public affairs division as its work to fix regulatory concerns continues. He succeeds Bill Daley, the former chief of staff to President Barack Obama, who recently announced his retirement from Wells.
Ex-banker at center of U.S. indictment of Sen. Bob Menendez
Federal prosecutors say Menendez, a New Jersey Democrat who sits on the Senate Banking Committee, accepted bribes in return for exerting political influence — including helping Fred Daibes, a small-bank executive who had been accused of loan fraud.
Goldman Sachs, Citadel Securities pay SEC millions over trade labeling
Recordkeeping lapses lead to fines as looming government shutdown threatens SEC workload.
‘Job security forever’: Bank leaders on AI and cyber defense
At the Sibos conference this week, cybersecurity leaders at banks and other experts debated how to train employees to thwart threats that are intensified by AI.
How to apply for Best Places to Work in Fintech 2024
The annual program recognizes financial technology companies with the best missions, cultures and benefits.
Fed’s Bowman urges bankers to comment on regulatory proposals
Federal Reserve Gov. Michelle Bowman, who has emerged as a leading opponent to the central bank’s recent efforts to raise capital requirements, said it was “absolutely imperative” that banks make their concerns heard.
Press Release: FDIC Releases Results of Summary of Deposits Annual Survey
PRESS RELEASE | SEPTEMBER 22, 2023 FDIC Releases Results of Summary of Deposits Annual Survey The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2023. The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than […]
A new trend in regtech is a gift to money laundering criminals
The move to create data consortia and proprietary information networks is creating exactly the kind of information silos that money launderers exploit today.
Why PayPal’s stablecoin whiffed out of the gate
The company’s scale has helped it become a force in many payment niches, but that wasn’t enough to make its PYUSD coin an immediate threat to Tether’s USDT and Circle’s USDC.
20 banks with the best reputation among noncustomers
The top five banks have an average reputation score among noncustomers of 70.7 in 2023.