As banking becomes ever more technology-driven, many banks are shifting from a mindset that puts big tech projects off to one side to one that embraces ongoing innovation, development and deployment. Regions Bank exemplifies the latter mindset.
Whether it’s buying a mortgage division in 2009 or building a diversified product set in an age of nichification, community bank CEO Luanne Cundiff zigs when pundits say to zag.
The way nonbank online lenders advertise or disclose up-front loan terms and costs for small businesses varies greatly, producing confusion for small business borrowers as online lending gains market share, according to research published Thursday by the Federal Reserve Board and the Federal Reserve Bank of Cleveland.
Next year, the FSB expects to tackle fintech developments worldwide, including the growing role of big tech firms in finance; the development of so-called “stablecoins,” virtual currencies pegged to real assets to minimize volatility; innovation to remove friction in cross-border payments; and the transition away from the London Interbank Offered Rate to new benchmarks.
In a world where bank CEOs often reach the corner office via serving as chief financial officer or building a career on the lending side, Clayton Legear did things differently.
As one of the country’s generation of young bank CEOs, and one whose professional background is in risk management and regulatory compliance, Clayton Legear shares his unique outlook in the latest episode of the ABA Banking Journal Podcast.
Signs of moxie from the OCC and FDIC? The agencies are wading into the preemption waters to defend the “valid when made” doctrine.
The Consumer Financial Protection Bureau wants to spur innovation in the use of artificial intelligence and machine learning in financial services, CFPB Director Kathleen Kraninger said today.
Regulators need to understand the pressures that banks face to innovate and support those efforts, FDIC Chairman Jelena McWilliams said today.
Providing a long-awaited regulatory solution to court rulings challenging the principle, the OCC today proposed that interest rates valid when the loan is made by a national bank or federal thrift remain valid when the loan is transferred or sold.