Many investment companies have announced large redundancies, with more expected in 2019
Morgan Stanley hiked Gorman’s pay by 7% in 2018
Board rewards the CEO’s ‘outstanding individual performance’
Fannie-Freddie soar on FHFA chief’s conservatorship comment
Fannie Mae and Freddie Mac shares soared Friday amid fresh reports that the Trump administration is working on proposal that would recommend freeing the mortgage-finance giants from government control.
Scott to lead Senate Banking’s financial institutions subcommittee
The South Carolina Republican will take over for Sen. Pat Toomey, R-Pa., as part of a reshuffling of subcommittee assignments.
How Citi will shrink its pay gap, and beware those freshman renegades
Citi is the first to share its unadjusted pay gap and lays out its goals for improvement. Bankers will be getting to know the progressive female freshmen who are storming D.C. a lot better. Plus, lots of fintech people moves and Gillette’s take on toxic masculinity.
Lower expenses, C&I growth drive Regions’ 4Q profits
Strong demand for commercial loans helped offset weaker growth in consumer lending and a decline in fee income.
Navient seeks to narrow CFPB’s student loan servicing lawsuit
The company has filed a request with a federal judge in Pennsylvania for a summary judgment in two counts against it, accusing the bureau of failing to provide evidence.
Battle for deposits is ‘a steel-cage match’
Loan demand is finally picking up after several lackluster quarters. Banks’ big challenge is finding cheap deposits to fund all those new loans.
CFPB’s payday rule revamp, Fiserv-First Data deal, shutdown impact: Top stories of the week
CFPB to scrap key underwriting portion of payday rule; Fiserv-First Data — why small banks fear big fintech; banks, credit unions help federal workers hurt by shutdown; and more from this week’s most-read stories.
Veteran banker Cathy Nash leaves Woodforest
The Texas bank disclosed that James Dreibelbis, a longtime Woodforest executive, succeeded Nash as president and CEO in late December.