Fifth Third Bank has updated its 2,500 ATMs so customers can use a mobile phone, instead of an ATM card, to get cash. Customers must sign in to the bank's mobile app, hold the phone up to the ATM and scan a bar code with the app before entering a PIN into the ATM.
Travis Rhodes has been appointed to lead the Delaware Valley region at BB&T. Rhodes succeeds Scott Gamble, who is retiring after a 34-year banking career.
Expected regulatory changes have improved regional banks' shares relative to large banks. CBA President and CEO Richard Hunt says regional banks don't create systemic risk and can reinvest money spent on compliance.
Bank of the West CEO Nandita Bakhshi and Citizens Financial Group CEO Bruce Van Saun discussed industry expectations and concerns during the CBA conference, including Amazon's apparent interest in banking. "I like banking's chances to hold them off and be competitive," Van Saun said.
Missouri lawmakers are not planning major changes to rules on small-dollar lending but could make minor tweaks, according to a report from the House Subcommittee on Short Term Financial Transactions. Lawmakers should use caution when making changes because of uncertainty in what the Consumer Financial Protection Bureau might do, the report says.
Harvey Schwartz is retiring from Goldman Sachs, leaving David Solomon as the only president and chief operating officer. The development suggests Solomon is the front-runner to succeed CEO Lloyd Blankfein.
Major banks face increasing competition from financial-technology firms that offer faster, more flexible products, as well as from tech giants that are making inroads into the financial-services sector. The development is highly uncertain, market watchers say.
President Donald Trump is nominating CIA Director Mike Pompeo to replace Rex Tillerson, who has been ousted as secretary of state. The deputy director of the CIA, Gina Haspel, is being nominated to replace Pompeo as head of the intelligence agency.
Five areas should be considered when vetting candidates to replace Mick Mulvaney at the Consumer Financial Protection Bureau, Kate Berry writes. In addition to offering their thoughts on the acting director's current course for the CFPB, candidates should state their views on the agency's approach to payday lending, fair-lending laws, corporate malfeasance and granting exemptions for credit unions and small banks, she writes.
Regulators said at the CBA annual conference they will be more flexible in addressing relationships between financial-technology firms and banks. Leaders with the Federal Reserve, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau said they are working to learn more about the partnerships.