Wilmington Trust’s Doris Meister on a career in wealth management: The Climb
Meister, chair and CEO of the M&T division, considers herself a “builder-fixer” and has sought out new challenges and opportunities throughout her more than 30 year-career.
Are wearable payments coming back in style?
Samsung and Curve are setting the groundwork for a return of smart rings and other devices that can turn top-of-wallet cards into a fashion accessory.
CFPB’s latest overreach threatens to nationalize consumer finance
The Consumer Financial Protection Bureau is preparing to pick winners and losers in the consumer lending market, stifling innovation and curtailing freedom of choice.
‘They’re fixing a broken bank’: NYCB starts to outline a way forward
The troubled Long Island-based lender laid out steps that it’s taking to improve its loan review process. The remediation efforts follow a massive loan provision last quarter, which led to a management shakeup and a $1 billion rescue led by former Treasury Secretary Steven Mnuchin.
Sunshine Act Notice: FDIC Board of Directors Meeting
SUNSHINE ACT NOTICE | MARCH 14, 2024 FDIC BOARD OF DIRECTORS MEETING The FDIC Board of Directors will meet in open session: Time and Date: 10:00 a.m. on Thursday, March 21, 2024. Place: This Board meeting will be open to public observation only by webcast. FDIC Board Members and staff will participate from FDIC Headquarters, […]
Morgan Stanley wins $1.5 million bonus spat with French banker who quit
The Paris court of appeals ruled against Bernard Mourad, saying the bank’s cash and shares incentive programs “sought to ensure his loyalty in the long term.” The judges said they were distinct from his performance compensation — covered by his salary and discretionary bonus.
CFPB says bank engaged in ‘forum-shopping’ to fight $8 late fee rule
The Consumer Financial Protection Bureau claims trade groups have no jurisdiction to file a lawsuit in Texas to stop the bureau’s $8 credit card late fee rule, saying the plaintiffs engaged in “forum-shopping” to seek the most favorable outcome.
TransUnion launches new data analytics platform powered by AI
The credit bureau’s data analytics portal, OneTru, hosts all previously offered products on a hybrid cloud-based platform and uses guides powered by artificial intelligence to streamline query processes.
Bank of America gives Erica a search-bar look as it explores gen AI
Like many of its peers, the bank is evolving its virtual assistant to be more personalized and to incorporate a large language model, but it’s not quite ready to turn on customer-facing generative AI.
Regulators fine JPMorgan $348 million for gaps in trading venue oversight
The Federal Reserve and the Office of the Comptroller of the Currency both cited the nation’s largest bank for having “inadequate” policies around firm and client trading activities.