Lisa McGeough on Becoming HSBC’s New U.S. CEO: “It Wasn’t an Accident.”
McGeogh started in fixed income sales at Salomon Brothers, and has led groups in leveraged finance, international securities and global banking. Now, she will lead the expansion of all businesses in the region.
The case for consolidating the Home Loan banks is strong
Shrinking the Federal Home Loan Bank System from 11 banks to eight would save members money, improve efficiency and generate more money for affordable housing.
Jamie Dimon: Tariff policy issues must be resolved quickly
“The quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse,” the JPMorgan Chase & Co. CEO wrote in his annual letter to shareholders.
BOE’s Bailey nominated to lead Financial Stability Board
The Bank of England governor won unanimous backing to succeed Klaas Knot as chair. The appointment will be formalized in June.
CFPB is back to doing enforcement again … sort of
The Consumer Financial Protection Bureau has chosen to prosecute only a handful of cases as the Trump administration drops other investigations, claiming enforcement is not mandated by the Dodd-Frank Act.
Provident Bank creates new role to drive customer experience
Provident Bank’s Tara Brady was promoted to chief experience officer; the Federal Reserve ended its enforcement action against Nano Banc; Jim Nussle announced plans to retire as CEO of America’s Credit Unions; and more in this week’s. banking news roundup.
Why fintechs have been buying up banks
The OCC’s approval of SmartBiz buying a bank opens the door to other fintech M&A deals for accessing bank charters, which can help a fintech stay in business.
Bank-insurance agency deals return with Georgia acquisition
The Fitzgerald-based Colony Bankcorp agreed to pay $3.5 million to purchase an agency in Monroe, Georgia. The deal signals the potential return of more banks buying insurers than selling them.
DOJ says CFPB stop-work order maintains statutory functions
The Department of Justice said in a court filing Friday that a February stop-work order from acting Consumer Financial Protection Bureau director Russell Vought did not entail stopping statutorily-mandated work by the bureau, defying earlier testimony.
‘Complete whiplash’: Bank stocks fall after recent euphoria
Wall Street continued its selloff of financial institutions as the increasing likelihood of a U.S. recession fuels fears of revenue pressures.