CFPB, Treasury union urge staffers to ignore Trump buyouts
The National Treasury Employees Union and the chief of staff at the Consumer Financial Protection Bureau told employees not to respond to the mass email asking federal workers to resign.
Great leaders make sure there’s no such thing as a thankless job
Effective bank leaders recognize that the success of any team relies not just on those in the spotlight but also on the numerous unsung heroes working behind the scenes.
WSFS beats analysts’ expectations on strong wealth performance
Executives at the Wilmington Delaware-based bank are optimistic about 2025. Its results in the final three months of last year were hurt by an “isolated” incident in its 26-year-old ATM servicing business.
Wells Fargo exits consent order. Is more regulatory progress coming?
Analysts say the termination of a 2022 consent order with the CFPB is a sign that the bank’s days under an asset cap may be numbered. But the consumer bureau, still led by Director Rohit Chopra, says Wells is still being scrutinized as a repeat offender.
Synchrony takes hit from investors after charge-offs rise
Synchrony Financial’s fourth-quarter earnings results missed analysts’ forecasts and investors pummeled the stock due to a jump in charge-offs.
USAA sues Regions Bank in latest mobile deposit lawsuit
USAA claims to have developed the mobile capture deposit technology and has already successfully sued Discover and Truist, among others.
ABA chair sees room for change under Trump administration
John Asbury, who is CEO of Atlantic Union Bankshares, said credit unions that compete head-to-head with for-profit banks should lose their tax-exempt status. He also called for bank regulation based on complexity rather than size.
U.S. Bancorp CEO Andy Cecere to retire, Gunjan Kedia named successor
Kedia will be the first woman to run U.S. Bancorp and one of just two women CEOs at one of the nation’s 50 largest banks.
Congress to mull long-term fix for federal flood insurance
The FEMA-operated program has over 4.7 million policies in force, and lawmakers have kept it intact via dozens of short-term extensions since 2017.
Sen. Tim Scott hints at ‘imminent’ CFPB director pick
The chair of the Senate Banking Committee said the Trump administration will soon address the future of the Consumer Financial Protection Bureau director. “I think we’re going to be happy with the answer they give us and the person they give us as well,” the Republican from South Carolina said.