Gabrielle Saulsbery

1 week ago | bankingdive.com | Gabrielle Saulsbery

The Consumer Financial Protection Bureau will shift enforcement and supervisory matters to states and pivot its focus away from non-depository institutions, according to an internal note issued Wednesday by Chief Legal Officer Mark Paoletta. “In 2012, 70% of the Bureau’s supervision focused on banks and depository institutions and 30% on nonbanks,” Paoletta wrote.

1 week ago | bankingdive.com | Gabrielle Saulsbery

As global head of strategy and business management at HSBC, Brian Muse-McKenney was on the hunt for a fintech partner that could help build a social payments app worthy of competing with AliPay and WeChat in the Hong Kong market. He said he knew the bank had a “massive technology disadvantage” against the internet giants. WeChat’s payments function had been around since 2013, and Alipay’s was even older.

1 week ago | bankingdive.com | Gabrielle Saulsbery

The Office of the Comptroller of the Currency is “now determining what data has been accessed” in a security breach of its email system reported last week, Acting Comptroller Rodney Hood wrote Monday in a draft letter to bank CEOs. The agency has made improvements to its IT security, Hood said, adding that the OCC is taking stock of “the extent to which highly sensitive information relating to the financial condition of federally regulated financial institutions was compromised.” Meanwhile,...

1 week ago | bankingdive.com | Gabrielle Saulsbery

Five years after it first sought an industrial bank charter, Edward Jones is trying again. The firm last week submitted an application to the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions to establish Edward Jones Bank, saying that an industrial bank would “enable Edward Jones to serve more clients, more completely.”The firm had applied for the same type of license, from the same entities, in 2020.

1 week ago | hrdive.com | Gabrielle Saulsbery

This audio is auto-generated. Please let us know if you have feedback. Ally Financial’s legal battle with America First Legal has been dismissed without prejudice, court documents show, after the bank’s public filings show a reduced emphasis on diversity, equity and inclusion. The parties reached a settlement, AFL saidlast week, in the case filed on behalf of a former Ally employee who alleged his manager was less qualified than he was but hired due to race- or sex-based quotas.