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SunTrust glitch takes down online, mobile service

SunTrust branch
SunTrust Banks Inc. signage hangs above an automated teller machine (ATM) at a branch in Washington, D.C., U.S., on Tuesday, Nov. 11, 2014. SunTrust Banks Inc. announced plans in Aug. to hire as many as 200 people for its investment bank to expand businesses including capital markets and stock research and add expertise targeting the energy and health-care industries. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
The bank chalked up its outage to "a normal system upgrade that experienced technical difficulty."

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'Just a matter of time' before Amazon, Google enter mortgages: loanDepot CEO

Anthony Hseih
LoanDepot's CEO Anthony Hsieh delivered a bracing message to mortgage lenders on Monday — strong new competitors are coming into this market, so they need to expand their offerings.

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Is Wells Fargo looking for Tim Sloan's replacement?

Gary Cohn (left) and Tim Sloan
The New York Post reported Wednesday that Wells Fargo board members met with Trump White House alum Gary Cohn about becoming the bank's next CEO, but were rebuffed. Here's what to conclude from the article.

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Massachusetts bank to have first new CEO in two decades

Edward Doherty
Edward Doherty is set to succeed Janice Houghton when she retires in November.

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JPMorgan forms commercial banking group to focus on startups

JPMorgan Chase sign
Pedestrians pass in front of a JPMorgan Chase & Co. office building in New York, U.S., on Wednesday, April 11, 2018. JPMorgan Chase & Co. is scheduled to release earnings figures on April 13. Photographer: Christopher Lee/Bloomberg
Christopher Lee/Bloomberg
The New York company said Wednesday that the new group will provide loans and other services to early-stage, consumer-focused companies.

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Why Regions did away with teller jobs

Decline in number of branches at Regions Financial, 2010-2018.
When the Birmingham, Ala., bank was rethinking its branch strategy, it had to reconsider the role of its tellers. Ultimately, it decided to transition those workers to a more general banker role that emphasizes meaningful conversations with customers and continuous career progression.

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Deposit growth is top of new Goldman banking chief's to-do list

How Goldman Sachs Bank USA stacks up vs. the big banks in terms of total deposits
Carey Halio, who becomes CEO of Goldman Sachs Bank USA next month, wants to sustain its drive for consumer deposits and add products that make it more of a primary bank for customers.

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OCC's Otting: Why do state regulators want to limit consumer choice?

Comptroller of the Currency Joseph Otting
Former OCC chief Joseph Otting's CRA proposal was finalized in 2020. However, acting Comptroller Michael Hsu rescinded that in favor of the joint proposal.
Andrew Harrer/Bloomberg
The comptroller of the currency argues that special-purpose fintech charters will benefit consumers and businesses, despite opposition.

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Wells Fargo to cut up to 26,000 jobs within three years

A man uses a Wells Fargo ATM inside a branch in New York.
A man uses a Wells Fargo & Co. automated teller machine (ATM) inside a bank branch in New York, U.S., on Tuesday, July 12, 2016. Wells Fargo & Co. is scheduled to release earnings figures on July 15. Photographer: Eric Thayer/Bloomberg
Eric Thayer/Bloomberg
The cuts are part of a broader effort to trim expenses by roughly $3 billion a year by 2020.

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Mark Olson served as Fed governor, PCAOB chair, community banker in 50-year career

Mark Olson, former Federal Reserve governor and president of the American Bankers Association.
Mark Olson, who had a long career in banking including running a Minnesota bank founded by his father, serving as president of the American Bankers Association, and sitting on the Federal Reserve Board of Governors, died Sept. 12, 2018.
Olson ran a bank founded by his father in his hometown of Fergus Falls, Minn., before a long career in Washington.

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