The parade of political appointees for the incoming Trump administration continues, and as noted in reference to the financial industry, one possible appointment looms large. Bloomberg reported that President-elect Donald Trump may be putting a new position in place: A Federal Reserve vice chairman whose primary purview...
The more things change, the more they may stay the same … when it comes to interest rates. Two words came from the Fed chair last week that show that — election shocker notwithstanding — monetary policy will stay the course. Those two words were...
January 2018 may be a ways off, but PSD2 is going to change the way banks share customer information and APIs. And while some industry observers think it’s the worst thing that ever happened to banks, Token CEO Steve Kirsch says that it’s a blessing in...
The extent of cybersecurity attacks on financial institutions is much greater than reports show, especially in the U.K. Data from Britain’s Financial Conduct Authority (FCA) show that U.K. banks conceal many cyberattacks to keep their reputations intact and to avoid punishment. Shlomo Touboul, Chief Executive...
Two former workers of Wells Fargo have filed a $2.6 billion lawsuit on behalf of employees who suffered because they chose not to engage in unethical practices. Meanwhile, the Wells Fargo board has hired Shearman & Sterling to advise them on clawbacks on executives’ salaries.
Banks may soon find themselves with a big bill for cybersecurity systems, as New York Governor Andrew Cuomo and the Department of Financial Services pursue bank regulations to protect against data breaches. But it’s great news for cybersecurity firms.
Last week, the CFPB came down on Wells Fargo when it exposed its egregious business practices, all in the name of being focused on the customer. And for that, Karen Webster says, the CFPB should be commended for a job well done. Wells, on the...
