Provident hires ex-TD exec as new chief lending officer
Provident Bank announces its new chief lending officer; the SEC’s acting chairman asks a federal court to delay scheduling cases involving a rule on climate-related disclosure; the merger deadline for Capital One Financial’s proposed acquisition of Discover Financial Services is extended; and more in this week’s banking news roundup.
Watchdogs to investigate DOGE Treasury payments access
The probes come at the request of Sens. Elizabeth Warren, D-Mass., and Ron Wyden, D-Ore., respectively the ranking members of the Senate Banking and Senate Finance committees.
CFPB’s acting director was illegally appointed: Lawsuit
Consumer and employees groups are seeking a restraining order against CFPB acting Director Russell Vought, arguing that he was unlawfully installed and has “no power to direct” the bureau.
JPMorgan, Ingenico test appetite for biometrics at checkout
The rollout of new technologies in point-of-sale retail payments in the U.S. has historically been slow, and consumer adoption of those new payment flows can be even slower. Can consumers’ propensity for self checkout help push adoption?
Wells Fargo sheds fourth consent order in a month
The San Francisco-based bank announced that another consent order with the Office of the Comptroller of the Currency has been terminated. The six-year-old order was related to the bank’s risk compliance management and certain loan practices.
Automated mortgage insurance cancellation is a dangerous plan
A proposal to tie cancellation of private mortgage insurance policies to automated valuation models would add unnecessary risk to mortgage portfolios and would result in less, not more, affordable housing.
20 banks with the largest quarterly deposit declines
The biggest decline was a 9.9% drop in deposits quarter-on-quarter as of Dec. 31.
What direction will McKernan take leading the CFPB?
The Trump administration’s nominee to lead the Consumer Financial Protection Bureau, Jonathan McKernan, is seen as an institutionalist with a deep knowledge of policy. But whether he keeps the bureau shuttered or rebuilds it is uncertain.
Trump officials fire dozens of Chopra’s hires at CFPB
On Wednesday night, the Trump administration fired dozens of employees at the Consumer Financial Protection Bureau, according to an email obtained by American Banker. Most of the workers targeted had been hired by former CFPB Director Rohit Chopra.
Global Payments pushes patience for its restructuring
CEO Cameron Bready told analysts that the company’s changes in management structure, product reorganization and strategic retrenchments will show up in earnings later in 2025.