Banks get pushback on executive compensation packages
Goldman Sachs, Bank of America, Wells Fargo and Truist are facing pressure from ISS, Glass Lewis and SOC Investment Group over their 2024 pay packages.
Digital wallets, biometrics spur innovation in payments tech
Consumer habits are the driving force behind industry-wide payments investments, be it digital wallet adoption, biometric authentication or payments platforms.
Exclusive: Barr offers CRA resolution for OCC bank merger rule
House Financial Services Committee member Andy Barr, R-Ky., will introduce a Congressional Review Act resolution to nullify the Office of the Comptroller of the Currency’s merger rule that went into effect in January.
House votes to nullify overdraft, larger participant rules
Congressional Review Act resolutions to nullify the Consumer Financial Protection Bureau’s overdraft and larger participant rules now go to President Trump for his signature.
Trump tariff pause gives banks a reprieve, but threats remain
President Trump placed a 90-day pause on most of his sweeping tariff package, but for banks and other financial market participants, the threat of volatility remains.
Revolut hit with AML fine; contactless pay soars in the UK
The Bank of Lithuania contends the U.S. fintech broke anti-money-laundering rules; while British contactless payments hit a record. That and more in the American Banker global payments roundup.
The small bank trade-off in Bowman’s rise to Fed top cop
Federal Reserve Gov. Michelle Bowman has been a crucial ally for community banks. With her impending rise to regulatory vice chair, small banks worry about losing their direct access to the Fed’s board of governors.
CFPB preliminary injunction likely modified by appeals panel
A federal appeals court panel seemed open to accommodating the Trump administration by putting some conditions on a preliminary injunction that has blocked it from reductions in force at the Consumer Financial Protection Bureau.
Watchdog says FBI should lead coordinated anti-scam strategy
Three U.S. agencies lack a “comprehensive, government-wide strategy,” according to a report that echoes complaints banks have made for years.
‘We want to enable the whole bank with AI’: Lloyds Bank
The London bank is using Google’s Vertex AI platform within Google Cloud to create generative AI models for customers and staff.