Standard Life Aberdeen hit by client loss; GKN and Credit Suisse also in the news
Sector has remained surprisingly resilient in the face of proposed crackdown
U.S. Bank’s $600 million fine for AML lapses quickly drew readers attention, while acting CFPB Director Mick Mulvaney got the Cordray treatment on Capitol Hill and big banks made moves to speed real-time payments.
Just two months after a capital infusion, First Capital Bancshares added banking veterans including John McCoy and Harvey Glick as directors in a board overhaul, changed CEOs, and decided to move its corporate headquarters to Charleston, S.C.
Democratic lawmakers are objecting to acting CFPB Director Mick Mulvaney’s decision to strip the fair-lending office of enforcement powers.
Four of the startups are focused on business and consumer bill payments, and a fifth offers student loan repayment assistance as an employee perk.
Triumph Bancorp has developed technology to help freight brokers make faster payments to truckers, charging a fee for the service.
The House Financial Services Committee chairman is calling out Fannie Mae and Freddie Mac’s regulator for authorizing payments to two housing trust funds while the mortgage giants have their own financial struggles.
The finance sector had the highest number of breaches of all industries, with 471 in 2016, according to a report issued Friday by the White House’s Council of Economic Advisers.
A sophisticated campaign by Russian actors seeking to manipulate the 2016 U.S. presidential election through social media included stealing the identities of Americans and using accounts at PayPal to aid their effort.