Joseph Otting, the former banking executive with close ties to Steve Mnuchin, the U.S. treasury secretary, was confirmed as the next U.S. Comptroller of the Currency, an office which has oversight of large financial institutions, such as Bank of America, JPMorgan Chase and Wells Fargo....
Will China’s invitation get the party started? Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree...
Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation who is leaving the government agency, expressed concern that regulators may be doing too much to roll back rules that were put in place after the Great Recession and financial crisis. Get the Full Story...
The European Central Bank (ECB) steps up efforts to launch a tool that would enable financial regulators to stop customers from withdrawing cash when a bank is about to go under. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
China is increasing regulations on websites that offer cash loans, amid growing concerns about lax regulation in the fast-growing market. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
HSBC and Standard Chartered, the two U.K. banks, are facing a review by the country’s financial regulators and the Serious Fraud Office to determine whether they are linked to the corruption scandal in South Africa. Get the Full Story Complete the form to unlock this...
The Financial Industry Regulatory Authority (FINRA) announced news on Monday (Oct. 16) that it has ordered Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network to pay more than $3.4 million in restitution for making bad recommendations of volatility-linked, exchange-traded products (ETPs). Get the...
The president of the Federal Reserve Bank of St. Louis, James Bullard, warned Thursday (Oct. 12) that banking regulators in the U.S. need to pick up the pace in their efforts to confront the risks created by FinTech companies to the banking sector. Get the...
Ohio announced that it is extending its ban on doing business with Wells Fargo because the bank “still has work to do” when it comes to assisting consumers and fixing its internal problems. Get the Full Story Complete the form to unlock this article and...
