How bank compliance leaders are engaging with regulators
Risk and compliance executives shared how they're responding to rapid changes in bank regulation at American Banker's Most Powerful Women in Banking Conference.
The Most Powerful Women in Banking
The Most Powerful Women to Watch: No. 4, Meghan Graper, Barclays
Graper was promoted to her current role as managing director and global head of debt capital markets last year.
Diane Morais to exit Ally amid transition to new CEO
Morais, who leads the auto lender's consumer and commercial banking divisions, is preparing to leave as Ally Financial conducts a search for its next chief executive officer. She had been seen as a potential candidate to replace outgoing CEO Jeffrey Brown.
Franklin Templeton CEO on the ‘unintended consequences’ from interest rate hikes
At the Most Powerful Women in Banking conference, asset management leader Jenny Johnson discussed opportunities and risks for portfolio managers in 2023.
Ginnie Mae has first Senate-confirmed leader in nearly 5 years
HUD official Alanna McCargo takes over the top job at the government corporation, which has had a series of acting leaders since 2017.
Fannie Mae promotes two longtime leaders to key positions
Chryssa Halley, who has been with the company since 2006, was named CFO and Jim Holmberg was named controller.
Yellen wins confirmation to become first woman as Treasury chief
Janet Yellen was confirmed by the U.S. Senate as the country's 78th Treasury secretary and the first woman to hold the job, putting her in charge of overseeing an economy that continues to be hobbled by the coronavirus pandemic.
It’s official: Yellen is Biden’s pick for Treasury
The incoming administration chose a battle-tested policymaker who can draw on her nearly two decades at the Fed to help rebuild an economy still struggling from the coronavirus pandemic.
Yellen at Treasury could resuscitate Fed’s loan programs
The Trump administration has compelled the Federal Reserve to shut down the Main Street Lending Program and other facilities that aid banks’ pandemic relief efforts, but President-elect Biden’s Treasury nominee could help turn the spigot back on.
Goldman shakes up units in fresh push to win over investors
Goldman Sachs Group shuffled its business lines and announced a raft of management changes, carving out new divisions aligned with a strategy pivot unveiled earlier this year.
Citi picks Fraser to be next CEO as Corbat to retire in February
Jane Fraser, a longtime Citigroup executive, will be the first female CEO of a major Wall Street bank. She succeeds Michael Corbat, who had held the post for eight years.
‘I’m a budget nerd’: How new FHA chief is confronting pandemic
Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.
![“We will step up and do whatever we can to make sure that we ensure market stability,” said FHA Commissioner Dana Wade. “But we know [the pandemic will] ... pass and we're going to have a strong, vibrant economy when it does."](https://vip.arizent.com/ab/wp-content/uploads/sites/4/2020/08/wade-dana-bl-081720.jpg?w=364)
Senate Banking Committee to consider controversial Fed board pick
The panel later this month will vote on the nomination of Judy Shelton, whose views on certain policy issues have met with skepticism from both Democrats and Republicans.
‘There will be hundreds of fintech failures’
Jane Gladstone, new president of Promontory Interfinancial Network, says the recession will accelerate the shakeout among the nonbank disruptors and that small banks have an opportunity to forge new bonds with the survivors.
Recovery could take 4 years if virus contained, Fed’s Daly says
The U.S. economy can escape another decadelong slog back to health if strong public measures or a vaccine curb virus surges, Federal Reserve Bank of San Francisco President Mary Daly said.
Congressional scrutiny of PPP grows amid national focus on racism
Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.
Synchrony’s 1Q profits hit by drop in consumer spending
The lender behind the credit cards for Gap, J.C. Penney and other retailers took a large provision for loan losses and abandoned full-year earnings guidance as the nationwide shutdowns tied to the coronavirus pandemic have led to a sharp decline in spending on its cards.
Key Republicans still undecided on Shelton’s Fed nomination
Three key Republicans on the Senate Banking Committee said Monday that they remain undecided on President Donald Trump's nomination of Judy Shelton to the Federal Reserve Board.
Trump to name former HUD official as FHA commissioner
Dana Wade would succeed Brian Montgomery, the acting deputy secretary of the Department of Housing and Urban Development.
Trump nominee for Fed seat gets cold shoulder from senators
Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation.
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