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Regulators tell banks they can choose any replacement rate for Libor

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The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.

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Fifth Third shuffles executive lineup after CFO joins BMO

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Fifth Third Bancorp promoted Chief Risk Officer Jamie Leonard to succeed Tayfun Tuzun, who will become chief financial officer of BMO Financial Group on Jan. 1. Both companies made other executive moves at the same time.

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CFPB investigating Regions' overdraft practices

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CFPB investigating Regions' overdraft practices
The bank disclosed in a regulatory filing that it is in the process of responding to a civil subpoena from the Consumer Financial Protection Bureau. It is the latest bank to come under regulatory scrutiny for the fees charged to consumers who overdraw their accounts.

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Banks could be ripe targets for age-bias lawsuits

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Banks could be ripe targets for age-bias lawsuits
A former Fifth Third executive recently accused the company of failing to deliver on a promise to make him president because he's in his mid-50s. The case offers important lessons in hiring and succession planning as the banking industry cuts costs and seeks out younger, digital-savvy managers.

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BBVA and Prosper partner to offer digital home equity lines

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The two companies first started collaborating last year, but now BBVA has white-labeled Prosper's technology on its own website.

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Why PPP fraud hit fintechs harder than banks

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Scammers may have had more success at duping fintechs than banks in obtaining Paycheck Protection Program loans. But there are reasons for this apparent disparity.

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What kind of regulator can Biden get past a GOP Senate?

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If Republicans keep their majority, the incoming administration will likely have to pick moderates over progressives to have any chance of getting its nominees approved.

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Citi tests long-term viability of video banking

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Though most bank customers expect to return to calling or meeting in person with their bankers when the pandemic is over, Citigroup is gauging how much business it can keep in the videoconferencing channel.

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Banks need to move past 'gotcha' overdraft fees, PNC chief Demchak says

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More banks are discussing the status of overdraft practices, and the industry is bracing for the potential of new regulations under President-elect Joe Biden.

(Full story here.)

CFPB sets stage for long fight on data-sharing rule

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As it attempts to craft policy on access to consumers' financial account information, the agency is wading into a battle between those who want data to flow more freely and those who prioritize security.

(Full story here.)
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