Why Democrats are still in charge of the CFPB and OCC
Experts say the Trump administration is waiting for Scott Bessent to be confirmed as treasury secretary and for other appointees to clear the Senate before naming acting heads at federal banking agencies.
Bank group agrees with Trump ‘diagnosis’ of debanking
Greg Baer, head of the Bank Policy Institute, echoed the president’s assertion that unchecked supervisors are urging banks to drop risky clients .
Bankers debate impact of AI, fintech on industry at Davos
Executives at JPMorgan Chase, BNY Mellon, Standard Chartered and Qatar Central Bank discussed whether AI will kill jobs and how to work with fintechs at the World Economic Forum annual meeting.
GOP floats credit union taxes, repealing FDIC orderly liquidation authority
A document circulated by the House Ways and Means Committee makes a number of suggestions for cutting federal spending, including revoking the federal tax exemption for credit unions and eliminating the Federal Deposit Insurance Corp.’s Orderly Liquidation Authority.
Trump tells Bank of America to stop blocking conservatives
President Donald Trump levied a surprise broadside against Bank of America’s Brian Moynihan at the World Economic Forum, chiding the CEO and catching him off-guard, accusing his lender of limiting business with conservative clients.
Banc of California beats estimates as PacWest costs fade
After the tumult of buying PacWest Bancorp, Banc of California is not only profitable again but surpassing Wall Street’s expectations.
Texas Capital sees higher fee income in 2025 after solid Q4
The Dallas-based bank’s fourth-quarter earnings beat analysts’ forecasts. Texas Capital raised its estimate for 2025 adjusted fee income to $270 million.
NYC-area banks’ to-do lists: Deposit growth, CRE reduction
Valley National Bank and Dime Community Bancshares expect a better balance of deposit costs to help boost their net interest margins in 2025.
NYDFS penalizes PayPal $2M over 2022 data breach
The settlement detailed the missteps PayPal took in the lead-up to the attack and highlighted common risks — both on compliance and security — banks face.
How Fiserv’s new CEO shakes up succession at two firms
The technology vendor is going outside the company to hire PNC vet Michael Lyons to replace Trump Administration-bound Frank Bisignano, leaving the Pittsburgh-bank without its heir apparent for the top role.