Every week in the financial services industry, there seems to be chatter about increasing regulatory pressure, the slow economy and the potential of mobile payments. This week is no different.
June 08, 2012
2. Strange Bedfellows
Instable.
—Timothy Mayopoulos, the former general counsel of Bank of America who held that same position at government-backed mortgage finance company Fannie Mae after being ousted from BofA (shortly before its acquisition of Merrill Lynch). Mayopoulos was named the new CEO of Fannie this week, and said he won't personally get involved with making decisions relating to issues on which he had special knowledge about Bank of America, but that it wouldn't be practical to continue his recusal.
Source: Wall Street Journal
