HFSC Chair Hill eyes wider scope in deposit insurance debate
House Financial Services Committee Chair French Hill, R-Ark., said he wants to consider a range of ideas on how to improve deposit insurance and other issues facing community banks beyond a Senate bill raising insurance for business accounts.
Home BancShares to activist investor: ‘We’ll be your buyer’
The $22.7 billion-asset company may be interested in buying certain banks that HoldCo Asset Management presses to sell in the future, Chairman and CEO John Allison said. Home is planning to announce its next acquisition in December.
Lloyds buys Curve; Global Payments gets a lift from Uber
The U.K.-based banking giant will add a fintech that enables it to compete with Apple Pay, while Global Payments has added Uber Eats as part of its Genius-branded point of sale rollout. Plus: Visa has advanced account-to-account payments in the U.K. and more in the global payments and fintech roundup.
A Massachusetts mutual bank moves into private banking
The 170-year-old Salem Five Cent Savings Bank has hired one private banker and could scale the business further if its performance matches management’s expectations.
Crosscountry offers $600M in new senior notes
The parent of Crosscountry Mortgage plans to use proceeds to pay down its mortgage-servicing rights line of credit as well as for general corporate expenses.
Money launderer pleads guilty in $263 million crypto scheme
Kunal Mehta, also known by the alias “Shrek,” used shell companies and bulk cash drops to clean millions for a cybercrime ring that stole $263 million.
Fed’s Miran: banks should hold more Treasurys, less reserves
Federal Reserve Gov. Stephen Miran argues that banks holding excess reserves are keeping the central bank’s balance sheet bigger than it should be, and suggested that regulatory changes could help bring those reserves down.
Senate Banking Committee approves Hill to lead FDIC
Travis Hill’s nomination to lead the Federal Deposit Insurance Corp. was recommended favorably by the Senate Banking Committee to the full Senate Wednesday morning in a 13-11 party-line vote.
Trump taps OMB official as new nominee for CFPB director
President Trump has nominated Stuart Levenbach, Associate Director of the Office of Management and Budget, to be the director of the Consumer Financial Protection Bureau. His selection allows acting CFPB Director Russell Vought to remain in place for another 210 days.
Proposed FDIC deposit insurance hike rewards risk, not responsibility
The proposal to push up some federal deposit insurance coverage to $10 million per account would encourage banks to take excessive risks while leaving consumers with the bill.