Pay soared in 2024 for the CEOs of these five big banks
Large banks are starting to disclose the compensation they awarded to their CEOs last year. Early signs point to a bounceback after CEO pay fell in 2023.
FDIC’s McKernan gets nod to lead CFPB; Gould picked for OCC
The White House has tapped former Federal Deposit Insurance Corp. director Jonathan McKernan to lead the Consumer Financial Protection Bureau and attorney Jonathan Gould to lead the Office of the Comptroller of the Currency late Tuesday.
U.S. Bancorp counting on payments split to drive revenue growth
CEO-designate Gunjan Kedia said payments growth is critical to the Minneapolis-based regional’s overall success. Dealmaking will take a back seat to organic growth for the time being, she added.
Warren: Musk can ‘knock his competitors out’ with CFPB data
In comments to reporters, Sen. Elizabeth Warren, D-Mass., underscored what she said was a conflict of interest between Elon Musk’s DOGE’s actions at the Consumer Financial Protection Bureau and his business interests with X Money.
Flagstar CEO says his bank could be ‘attractive’ M&A target
Joseph Otting, who is leading Flagstar’s turnaround, said potential buyers may be interested in acquiring the regional bank once it gets past certain challenges.
PNC Financial signals it is open to bank M&A
The superregional in Pittsburgh said banks large enough to attract its attention have yet to put themselves on the sale block. PNC’s finance chief said, “We just have to be ready if and when those windows open.”
OCC exits Network for Greening Financial System
The Office of the Comptroller of the Currency announced Tuesday it had withdrawn from an international body devoted to combatting climate-driven financial risk, saying it fell outside the agency’s statutory remit.
Hacker behind SEC’s fraudulent bitcoin ETF post pleads guilty
Eric Council, Jr. will spend two years in prison for an identity theft scheme that led to a false post by the SEC on X that bitcoin ETFs had been approved.
Powell: CFPB shutdown creates consumer oversight gaps
In his semiannual testimony before the Senate Banking Committee Tuesday, Federal Reserve Chair Jerome Powell said the effective shuttering of the Consumer Financial Protection Bureau leaves no federal regulator in charge of policing large banks for consumer protection law compliance.
How JPMorgan for BNPL gives Klarna a pre-IPO jolt
As it closes in on a New York listing, the Swedish fintech partners with the largest merchant acquirer in the U.S. by payment volume.