BankThink
Even the Federal Reserve has limited visibility into the nonbank and private credit markets. That's a problem for banks that are increasingly lending to those sectors.
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Applications from Enova International and Opportunity Financial for national bank charters present a danger to consumers. The Federal Reserve and Office of the Comptroller of the Currency should block them.
June 5
The Center for Responsible Lending -
Bank CEOs pay is rising again, as the leaders of the largest banks all top $40 million now; the next Fed chair needs to contend with a splintered board.
June 4
American Banker -
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A revised Basel III endgame proposal from the Federal Reserve would fundamentally change the economics of mortgage lending for banks — improving returns, reshaping pricing and reopening a market they sidelined.
June 4
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Regulators must move toward a more workable model that regulates the intermediaries that custody and control assets, not the underlying software. This would actually be the smarter choice, as blockchains provide transparency and thus better compliance than in traditional banking.
June 3
New Jersey-based Provident Bank promoted Annamaria Vitelli to chief wealth officer and president of the bank's wealth management subsidiary; U.S. Bancorp completed its acquisition of the global investment bank BTIG on June 1; Centier Bank has been honored with the Indiana Bankers Association's Commitment to Community Award; and more in this weeks banking news roundup.
The interconnectedness of banking enables team-led innovation to capitalize on enterprise challenges at enterprise scale—faster, with lower risk, and greater likelihood of adoption.
Structural change in banking is rarely defined by technology alone. Rather, leaders who know when to invest, where to modernize and which risks are worth taking are driving it.
Governor Greg Abbott proclaimed Texas the "financial capital of America" at the Texas Bankers Association's annual convention; Columbus, Ohio-based Northwest Bank named Chad Ballard chief information officer; Deutsche Bank terminated some staff as a result of its client relationship with convicted sex offender Jeffrey Epstein; and more in this week's banking news roundup.
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