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Citi's chief risk officer to depart as bank begins risk management rebuild

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The departure of Brad Hu at the end of the year opens the door for Citi's soon-to-be CEO Jane Fraser to hire someone new to oversee the bank's massive risk systems overhaul.

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Wells Fargo taps Capital One executive to lead diversity efforts

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Kleber Santos will be responsible for building a more inclusive workforce and designing products that meet the needs of a broader, more diverse range of customers.

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In year of PPP, big banks tap brakes on SBA lending

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Wells Fargo, JPMorgan Chase and others cut back on 7(a) lending to focus on originating Paycheck Protection Program loans. Smaller banks such as Live Oak and Byline gained market share by targeting niche industries and originating bigger loans.

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What debt collectors can and can't do under CFPB rule

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The agency's final rule modernizing the Fair Debt Collection Practice Act limits calls to seven per week, but collectors won stronger protections from liability claims and other key changes to the original proposal.

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Who would craft regulatory policy in a Biden administration?

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A Democratic victory in Tuesday's election would likely produce new leaders at the CFPB and OCC who could take bank regulation in a sharply different direction. Here are some names potentially under consideration.

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Beam Financial vanishing act a cautionary tale for partners of fintechs

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Customers say the Beam savings app is down and the company isn't returning their money. The situation is putting third parties like Huntington and Dwolla in the firing line, though they say they're not at fault.

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JPMorgan Chase warns of upcoming fine over internal controls

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The company said one of its regulators may impose a civil money penalty related to compliance deficiencies in its advisory business and other areas. The matter echoes a recent fine imposed on Citigroup, one expert says.

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What delayed election outcome means for banks

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If days go by without a clear result, the uncertainty could lead to market volatility, put off talks for a stimulus plan and complicate bankers' planning for a potentially new regulatory environment.

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How much longer will consumer credit hold up?

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Payment rates for auto lenders and credit card issuers have remained strong despite a spike in unemployment. Whether these trends continue into 2021 will depend largely on the actions of Congress and the pace of medical advances.

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Why Ally Bank built an island on Animal Crossing

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The digital bank is on a larger mission to attract younger customers. It's inserting itself into the popular video game in the hope that game players will learn about its products and have fun at the same time.

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