This week's editors' picks include a feature on Wells Fargo CEO Timothy Sloan's testimony in a recent hearing in Congress and a Data Dispatch on M&A activity in the fintech space.
Wells Fargo CEO 'doesn't get it,' lawmakers say during 4-hour grilling
Wells Fargo & Co. CEO Timothy Sloan defended the steps his bank has taken to improve operations after a slew of scandals, but some lawmakers in the U.S. House of Representatives were unconvinced.
Mississippi bank growing through 'small ball' M&A, and analysts like it
Analysts said they like BancorpSouth Bank's M&A strategy of growing through smaller transactions. The Tupelo, Miss.-based bank currently has four pending acquisitions that include a unique cap/collar pricing structure.
Fintech M&A Deal Tracker — 2 massive buyouts buoy total values as deals slow
Two massive fintech transactions buoyed deal values in the first two months of 2019. However, the total number of deals declined year over year and month over month, S&P Global Market Intelligence data showed.
Lawmakers set to weigh concerns over SEC's best-interest rule for brokers
Critics of the proposed rule say the Securities and Exchange Commission's reforms provide a weakly defined best-interest standard that does not clearly raise the current suitability requirement broker/dealers must meet when they advise clients on investment products.
CECL may cause Fannie, Freddie to draw billions of dollars from Treasury in 2020
According to some estimates, mortgage giants Fannie Mae and Freddie Mac would have to draw between $50 billion and $100 billion from the U.S. Treasury Department to account for the Current Expected Credit Loss standard, or CECL, in 2020.