Nasdaq premarket glitch that lasted three hours is resolved
Orders on the NASDAQ exchange were unable to execute early Monday morning because of an error with the exchange’s price discovery tool. The error has since been resolved.
Goldman veteran leaves for Cloudflare after consumer banking flop
Stephanie Cohen’s exit adds to the dwindling ranks of senior women at the firm as Chief Executive Officer David Solomon has failed to make good on his pledge of correcting the lack of women in the firm’s top ranks.
What does the future hold for social media-powered payments?
Despite fresh waves of online fraud and scams, czars of social media platforms, peer-to-peer networks and blockchain products have renewed ambitions to marry financial services with social apps.
The Supreme Court should confirm limits on the OCC’s preemption powers
Increased federalization of the U.S. banking industry would be a disservice to consumers and the economy. The court must act to protect the vibrancy of the dual-banking system.
Goldman closes GreenSky sale, and Synovus sees an edge
Goldman Sachs is unloading the home improvement lending platform GreenSky after a misadventure in consumer finance. However, the consortium buying GreenSky plans to invest heavily in its growth, and Synovus says it’s eager to deepen its partnership with the online lender.
Regulators are taking on nonbanks — a little bit at a time
As nonbank entities expand their market share in many traditional banking services and are increasingly intertwined in the banking system, regulators’ approach to leveling the playing field has been incremental and situational.
Why bank consolidation is down but not out
Bank mergers and acquisitions have slowed in recent years amid recession fears and other economic uncertainties. But bank consolidation is a century-old trend that’s expected to rev up again as early as this year due to higher costs, tougher regulation and fierce competition.
Bill to ban TikTok could have mixed results for banks
Proposed legislation to force Bytedance to sell its U.S. operations of TikTok raises national security concerns and potential retaliation from Beijing.
PNC promotes Michael Thomas; Huntington hires JPMorgan’s Sarah Pohmer
PNC announces a new head of corporate and institutional banking; Huntington hires JPMorgan exec to lead HR; former HSBC banker returns as the firm’s new U.S. CEO; and more in the weekly banking news roundup.
Judge recuses himself in lawsuit over CFPB’s $8 credit card late fees
A Texas judge has recused himself from a case that pits the largest credit card issuers against the Consumer Financial Protection Bureau and a rule that would eliminate $10 billion in late fees.