CFPB’s open banking rule will kill community banks with kindness
By exempting small banks from compliance with its open banking rule, the Consumer Financial Protection Bureau is relegating them to the dustbin of history. That cannot be allowed to happen.
Bank executives must manage culture risk, Canada regulator says
Canada's banking regulator is beefing up its rules on corporate culture, saying that it expects executives and boards to be accountable.
First Foundation hires outsider as CEO amid strategy overhaul
The Dallas bank is replacing longtime CEO Scott Kavanaugh, who stepped down Thursday, with veteran banking executive Thomas Shafer. Shafer previously led Chemical Bank, which was acquired by TCF Financial in 2019.
FedNow saw $17.5 billion of transactions last quarter
The Federal Reserve released the volume of activity on its instant payments network since its launch last summer, showing a surge in usage between July and August.