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BB&T-SunTrust merger closing could slip into 2020

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The companies say they're working hard to complete their deal this year — including spending millions on retention payments and other items — but there's no guarantee how quickly regulators will make their decisions.

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The next Elizabeth Warren? How Katie Porter is shaking up House banking panel

Rep. Katie Porter, D-Calif.
Representative Katie Porter, a Democrat from California, questions Tim Sloan, president and chief executive officer of Wells Fargo & Co., not pictured, during a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, March 12, 2019. Wells Fargo & Co. stock is underperforming Tuesday pre-market as Sloan prepares to appear before a House committee focused on what it's calling a "pattern of consumer abuses." Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
The California Democrat is less recognizable nationally than other progressives elected to the House in 2018. But she may be "the most feared freshman" on the Financial Services Committee.

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Trust Amazon, Google with their savings? Consumers are split
Two new surveys have found that most consumers would prefer to stash their cash in traditional banks. But there's one group of savers who would be very comfortable opening accounts with tech giants if given the opportunity.

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How BNY Mellon is going further on AI

Roman Regelman, SEVP and head of digital, BNY Mellon
FARHAD SEPAHBODI
The custody bank has deployed more than 300 bots and is using artificial intelligence throughout the organization.

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There's no shortcut to innovation, FIS exec says

Bruce Lowthers, President, Banking Solutions at FIS
Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.

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Democrats unload on CFPB's Kraninger: 'You are absolutely worthless'

CFPB Director Kathy Kraninger
Kathleen Kraninger, director of the Consumer Financial Protection Bureau (CFPB), waits to begin a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, March 7, 2019. Chairwoman Maxine Waters is seeking information from the CFPB about recent settlements that did not include consumer relief and asking staff employees to blow the whistle on actions they see as weakening consumer protection. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements.

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FASB unanimously approves CECL delay for most lenders

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The accounting board delayed implementation for the majority of banks and credit unions until 2023.

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Galileo glitch disrupts services for two popular challenger banks

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The payments processor Galileo suffered what it described as an "operational incident" that caused more than 24 hours of outages at the fintechs Chime and Varo Money.

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Citi's digital-first deposit strategy paying off — for now

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CEO Michael Corbat said he "wouldn't rule out" building branches to keep the momentum going.

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Why big banks keep raking in deposits

Brian Moynihan, Bank of America CEO, and Jennifer Piepszak, CFO of JPMorgan Chase.
They've long used their marketing muscle to wrest deposit share from smaller competitors. Now, amid growing concerns that the economy is weakening, they could be benefiting from consumers' flight to safety.

(Full story here.)
M&A Savings accounts Artificial intelligence CECL Deposits Kathy Kraninger BB&T SunTrust Amazon Google BNY FIS CFPB News & Analysis Citigroup
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