Bank Watch roundup: Regulators could move out of the banks
05/29/2014 7:00 AM
05/28/2014 8:13 PM
REGULATORS COULD MOVE OUT OF THE BANKS: The OCC, which keeps some of its regulators inside big banks including Bank of America, could pull some of them out of the corporate towers and put them back in the government offices, the Wall Street Journal reports. The thinking is that having more regulators working together in the office will boost collaboration and help them figure out what growing risks there are across the industry.
BRIAN MOYNIHAN SAYS BOFA FACES ONE LAST BIG SETTLEMENT: That would be the long-awaited Department of Justice settlement that some people have estimated could cost $10 billion or more. But after that, they're all done, the CEO told a conference Wednesday.
BOB STEEL TO RUN NEW YORK INVESTMENT BANK: The last CEO that Wachovia ever had will now take the top job at Perella Weinberg Partners.
SPRING HOUSING MARKET HASN'T BEEN AS GREAT AS HOPED: New Wells Fargo CFO John Shrewsberry told a conference that buyers haven't been as eager to jump on the selling season as they had expected. A month ago, during an earnings report with dismal mortgage banking income, executives there said they were optimistic that thing would turn around.
NET INCOME FALLS AT NORTH CAROLINA'S BANKS: Banks in the state made $3.5 billion in the first quarter, down from $5.5 billion in the same time period last year, according to the FDIC's newly released state banking profile. Assets and deposits remained flat, and yields on earning assets fell. The country as a whole also lost ground as mortgage and trading were weak, Bloomberg reports.
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