Don’t choke off fintech innovation with excessive capital requirements
If capital requirements are increased, they must be constructed in a way that doesn’t unduly burden smaller banks and their fintech partners.
Wells Fargo preps for wealth battle after $1 billion turnaround
Barry Sommers, the wealth management chief CEO Charlie Scharf brought in, is expanding after fixing up the unit; "Five years from now the independent channel will be our biggest channel."
Northwest’s CFO search, Plains State’s new small-business portfolio
Northwest Bank starts search for new CFO; Plains State Bank acquires wealth management, tax businesses; Bank of America names new heads for North America industrials banking; and more in the weekly banking news roundup.
Muni-price fixing suit inches closer to settlement with Wall Street
The lawsuits alleged that banks including Bank of America and Goldman Sachs — acting as remarketing agents on the securities — failed to get the best rates for issuers.