Dan Ennis

2 days ago | bankingdive.com | Dan Ennis

The Senate confirmed Federal Reserve Gov. Michelle Bowman, by a 48-46 vote Wednesday, to serve as the central bank’s vice chair for supervision. Bowman’s bid received no support from Democrats – a change from 2018, when she joined the Fed board with a from the Senate. Once she’s sworn in, the central bank will have a point person on supervision for the first time since Feb. 28, when Michael Barr, who’s still serving as a Fed governor, stepped down from the post.

3 days ago | bankingdive.com | Dan Ennis

Citi has abandoned a 7-year-old policy restricting firearms sales by its retail clients, the bank said in a statement on its website Tuesday. The move could be read as a bow to increasing pressure from conservative circles that have accused big U.S. banks of failing to serve clients whose political leanings fall right of center.

3 days ago | bankingdive.com | Dan Ennis

Citi’s global head of banking sanctions compliance, Jonathan Burke, has been nominated to serve as the Treasury Department’s assistant secretary for terrorist financing. Burke is a Treasury alum. He worked as a senior policy adviser for global affairs in the Treasury Department’s Office of Terrorism and Financial Intelligence from 2008 to 2012, according to his LinkedIn profile.

4 days ago | bankingdive.com | Dan Ennis

With the recent termination of several Wells Fargo consent orders and speculation about when the Federal Reserve’s asset cap on the bank may be lifted, it could be easy – especially in a hyper-domestic news cycle – to miss a massive (overseas) development in bank independence. The U.K. government on Friday sold the last of its shares in NatWest, freeing the bank into private ownership nearly 17 years after bailing it out during the 2007-08 financial crisis.

1 week ago | paymentsdive.com | Dan Ennis

The city of Baltimore voluntarily dismissed its lawsuit against the Consumer Financial Protection Bureau on Thursday, citing agency leadership’s repeated indications in court declarations that there is no mechanism to “transfer away money from, or otherwise relinquish control” over money in the bureau’s reserve fund. The Justice Department, representing the CFPB, filed a motion to dismiss the case May 15.