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Updated: 5 min 59 sec ago

Warren, Warner propose 'massive' fines for data breaches at credit reporting agencies

Wed, 01/10/2018 - 11:16
Sens. Elizabeth Warren, D-Mass and Mark Warner, D-Va., are set to introduce a bill that would force credit reporting bureaus to pay $100 per customer whose personal information was compromised.
Categories: FINANCIAL NEWS

Capital One names new chief risk officer, general counsel

Tue, 01/09/2018 - 23:54
The McLean, Va., company said that the personnel moves were unrelated to either its financial performance or its risk performance.
Categories: FINANCIAL NEWS

Pay for bank execs may rise as a result of tax reform

Tue, 01/09/2018 - 23:54
The elimination of a key deduction that had worked as a cap on CEO salaries, combined with investor pressure to maintain performance incentives, could lead to an upward drift in compensation for top executives of many banks.
Categories: FINANCIAL NEWS

House tees up more bills that are part of Senate reg relief deal

Tue, 01/09/2018 - 23:54
The House Financial Services Committee held a hearing on five bills, three of which are included in the deal negotiated between Senate Banking Committee Chairman Mike Crapo, R-Idaho, and moderate Democrats.
Categories: FINANCIAL NEWS

Meta Financial gains national lending platform with Crestmark deal

Tue, 01/09/2018 - 23:22
The company will pay $321 million for Crestmark Bank, a commercial lender that focuses on asset-based lending, equipment finance and government-guaranteed loans.
Categories: FINANCIAL NEWS

Regulators faulted for 'box checking' mentality on anti-laundering enforcement

Tue, 01/09/2018 - 22:52
Examiners are sometimes critical if a bank does not file enough suspicious activity reports, rather than concentrating on the true riskiness of a bank's activities, according to lawmakers and industry representatives.
Categories: FINANCIAL NEWS

Meet the newest members of the Senate Banking Committee

Tue, 01/09/2018 - 21:16
The Senate Banking Committee will have two additional members in 2018 as it adds Sens. Jerry Moran, R-Kansas, and Doug Jones, D-Ala.
Categories: FINANCIAL NEWS

M&A could get shot in the arm from tax reform

Tue, 01/09/2018 - 20:42
Lower taxes mean more earnings, higher capital levels and perhaps a psychological boost for buyers.
Categories: FINANCIAL NEWS

College president becomes first woman to lead Eastern Bank's board

Tue, 01/09/2018 - 20:26
The Boston mutual touted Deborah Jackson's role in promoting social justice and sustainability causes.
Categories: FINANCIAL NEWS

CECL compliance dragging small banks toward automation

Tue, 01/09/2018 - 19:54
Despite impending data requirements, many small banks are still struggling with automating loan risk calculations.
Categories: FINANCIAL NEWS

Kodakcoin Sees Former Film Giant Join Crypto Craze

Tue, 01/09/2018 - 19:22
Kodak’s latest moment has it joining the cryptocurrency frenzy.
Categories: FINANCIAL NEWS

'We are about to be overwhelmed by bitcoin,' senator warns

Tue, 01/09/2018 - 19:22
Sen. Mark Warner, D-Va., said Tuesday that policymakers need to take a hard look at cryptocurrencies. Senate Banking Chairman Mike Crapo agreed the issue was ripe for a hearing.
Categories: FINANCIAL NEWS

Credit union regulator more than qualified to run CFPB

Tue, 01/09/2018 - 18:36
J. Mark McWatters of the National Credit Union Administration will have no favorites among community financial institutions.
Categories: FINANCIAL NEWS

Spike in delinquency rate mars outlook for personal loans

Tue, 01/09/2018 - 18:20
The late-payment rate on loans frequently used to consolidate credit card debt hit its highest level in more than four years.
Categories: FINANCIAL NEWS

Behind First Green's about-face with banking medical marijuana firms

Tue, 01/09/2018 - 18:20
Calling the move "depressing," Chairman Ken Laroe said the decision to stop working with medical marijuana firms came after certain investors objected. Recent moves by the federal government cemented the call.
Categories: FINANCIAL NEWS

Midland States in Ill. revamps equipment finance unit

Tue, 01/09/2018 - 16:44
The company tapped a new president for the business, which it will also rebrand, after hiring a team from Scottrade Bank in Missouri.
Categories: FINANCIAL NEWS

Laurie Maggiano, HAMP architect, CFPB program manager, dies at 64

Tue, 01/09/2018 - 16:12
Laurie Maggiano, the Consumer Financial Protection Bureau's program manager for servicing and secondary markets, died on Sunday.
Categories: FINANCIAL NEWS

Payday rule will protect, not harm, vulnerable consumers

Tue, 01/09/2018 - 15:42
Criticism of payday lenders is deserved and Congress should not throw out the CFPB's short-term lending measure.
Categories: FINANCIAL NEWS

Dimon says he regrets bitcoin comments, calls blockchain 'real'

Tue, 01/09/2018 - 15:26
Jamie Dimon, the JPMorgan Chase chief executive officer who earlier called the cryptocurrency a "fraud," said Tuesday he wishes he hadn't dismissed the technology in such broad terms.
Categories: FINANCIAL NEWS

Registry to help banks fight AML; Finra warns on portfolio loans

Tue, 01/09/2018 - 15:10
A House bill would create a database to track true ownership of corporations; Wall Street regulator wants banks to improve disclosure of risks to consumers.
Categories: FINANCIAL NEWS

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