Bank cyberattack could hit whole financial system – NY Fed research

January 20, 2020

Category: Channels

The report models how a cyberattack on a single large bank, a group of smaller banks or a common service provider can be transmitted through the wholesale payments network. The researchers estimate that a hit on a big five bank […]

How bankruptcy, civil judgments and tax liens affect your credit report

January 16, 2020

Since the National Consumer Assistance Plan went into effect in 2017, public records must meet strict requirements to appear on consumer credit reports. Civil judgments and tax liens do not meet these new requirements, so they were removed from credit […]

UBS to cut up to 500 jobs in European private banking overhaul

January 7, 2020


UBS will cut up to 500 private banking jobs as part of a plan to split up its wealth management businesses in a bid to speed up decision-making and strengthen regional units. An internal memo sent to employees on Tuesday […]

Business Banking, Products, Regulations

Cashaa opens broker account for crypto businesses to enforce new FCA rules

January 20, 2020

Via: Finextra

Cashaa’s mission is to help crypto businesses get access to banking who have always struggled with traditional banks. Finally, in 2019, it started its operations in partnership with an FCA regulated entity intending to become the go-to banking services provider […]

Activity, Trading

Stocks hit new highs as Dow, S&P 500 cap a record-setting week

January 17, 2020

Via: Market Watch

U.S. stocks traded modestly higher Wednesday, with the major benchmarks reaching new intraday highs early, after data on new U.S. home construction showed it surging to 13-year highs in December, adding to a series of indicators this week suggesting the […]

Channels, Regulations

Chinese regulators planning digital banking go-ahead

January 16, 2020

Via: Banking Technology

In what is being billed as a push to reduce risk in the financial sector and encourage new entrants into the marketplace, the new rules could allow existing foreign companies in China – Like HSBC and Standard Chartered – to […]