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Category: News


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Deutsche Bank set to spare traders as it prepares more job cuts

February 2, 2023

Via: American Banker

Deutsche Bank is preparing further job cuts to keep costs in check, with the focus likely to be areas outside the trading unit. Meeting expense targets in an inflationary environment will require a redoubling of savings efforts, including job cuts, […]


News

Crypto firm Luno lays off 35% of its workforce

January 27, 2023

Via: FinTech Futures

In an internal message shared with Luno employees, Marcus Swanepoel, the company’s co-founder and CEO, cites the global economic downturn and an “even bigger” downturn in the tech sector, as well as a crypto winter “with a series of shocks” […]


News

U.S. Bank Receives “Outstanding” Community Reinvestment Act Rating

January 24, 2023

Via: Yahoo

U.S. Bank announced today that it has received the highest rating, “Outstanding,” for its recent Community Reinvestment Act (CRA) examination from the Office of the Comptroller of the Currency (OCC). The examination period was January 1, 2016, through December 31, […]


News

U.S. Bank adds Guillaume Mascotto as head of Sustainable Finance

January 20, 2023

Via: Yahoo

U.S. Bank announces the hire of Guillaume Mascotto as the company’s head of Sustainable Finance. In this new leadership role, Mascotto will build and lead a new team focused on identifying sustainable finance opportunities across the entire enterprise. Based in […]


News

Goldman Sachs to cut up to 3,200 jobs starting midweek: report

January 9, 2023

Via: Banking Dive

Goldman declined to comment on the reported cuts, but a source within the bank confirmed to Banking Dive the round of cuts will not exceed 3,200. That figure is lower than the 4,000-employee ceiling Semafor and other news outlets reported […]


News

ChoiceOne Bank Employees Close 2022 with Multiple Community Donations

December 29, 2022

Via: PR Newswire

ChoiceOne Financial Services, Inc., and ChoiceOne Bank (NASDAQ: COFS) (“ChoiceOne”) are pleased to recognize the donations ChoiceOne employees have made this year. Through an employee Jean Day program, multiple donations are made to local nonprofits throughout the year and at […]


News

Personalisation in banking

December 28, 2022

Via: FinTech Futures

Despite the necessity of driving individualised experiences, the banking industry is struggling to keep up with retailers, media and tech companies in delivering these highly tailored interactions and product offerings to their customers. And considering that millennials and Gen Z […]


News

Credit unions are speeding a clean energy transition; NCUA can help

December 22, 2022

Via: American Banker

More than 132 million Americans across the country trust their finances to a credit union. As not-for-profit financial institutions, credit unions have the flexibility to offer members lower rates on loans, fewer fees and higher-yielding returns on their savings. While […]


Activity, Investment Banking, News

JPMorgan’s racial-equity audit falls short for some shareholders

December 21, 2022

Via: Banking Dive

Some JPMorgan Chase shareholders feel a recent progress report on its racial-equity promises lacks clarity and that the audit process to create the report had “several deficiencies.” SOC Investment Group, which suggested the bank conduct a racial-equity audit in 2020, […]


News

Michigan credit union to acquire Florida bank in year’s 13th such tie-up

December 15, 2022

Via: Banking Dive

By acquiring Flagler’s four branches and $489 million in assets, Dort will push its own asset total (now hovering around $1.4 billion) to the brink of $2 billion. The deal is hardly unique, though, in linking institutions in Michigan and […]


News

HSBC to sell its Canada business to Royal Bank of Canada for $10bn

December 2, 2022

Via: FinTech Futures

RBC will acquire 100% of the issued common equity of HSBC Canada. The firm will also buy all the preferred shares and the outstanding subordinated debt issued by HSBC Canada and held by the HSBC Group for an additional $1.5 […]


News

UK BNPL fintech Zilch reportedly planning to lay off around 10% of its workforce

November 30, 2022

Via: FinTech Futures

The unicorn start-up, which raised an additional $50 million in a Series C extension in June maintaining its valuation of over $2 billion, is said to be planning a restructuring that will see dozens of jobs cut and has reportedly […]


News

FTX received some customer deposits via bank accounts held by Alameda

November 29, 2022

Via: American Banker

As everything was collapsing around him, Sam Bankman-Fried talked casually about the way FTX had accessed regulated banks otherwise out of reach to the crypto exchange: through his trading firm, Alameda Research. The arrangement arose because banks were reluctant to […]


News

Credit Suisse warns of $1.6B Q4 loss

November 23, 2022

Via: Banking Dive

Although the outflows have been “reduced substantially from the elevated levels of the first two weeks of October 2022,” they have yet to reverse, Credit Suisse said Wednesday. The pace of withdrawals pushed the bank’s liquidity below some local-level requirements, […]


News

Global Times: Financial Street Forum, a bellwether of China’s financial reform, highlights robustness, openness

November 22, 2022

Via: PR Newswire

China’s vibrant financial sector, a solid underpinning of the economic prowess and a crucial part of the country’s reform and opening-up, is set to anchor the world’s second-largest economy toward higher-quality growth and amplify its role as a stabilizer of […]


News

Demand for credit cards climbed this year

November 22, 2022

Via: Payments Dive

The last time the 12-month consumer application rate for credit cards was higher than in June of this year was in June 2019 when it reached 28.4%, according to the Fed’s data. In a slightly different measure of the credit […]


News

JPMorgan Chase bumps up parental leave to 16 weeks

November 18, 2022

Via: Banking Dive

JPMorgan Chase broadened its parental leave policy Thursday. The bank, starting Jan. 1, will give 16 weeks of time off to either parent for the birth or adoption of a child, regardless of whom is the primary caregiver, according to […]


News

2023 Bank M&A Survey Results: Can Buyers and Sellers Come to Terms?

November 14, 2022

Via: Bank Director

Year after year, Bank Director’s annual M&A surveys find a wide disparity between the executives and board members who want to acquire a bank and those willing to sell one. That divide appears to have widened in 2022, with the […]


News

U.S. Bank Climbs to No. 7 on Military Times ‘Best for Vets’ Employer List

November 11, 2022

Via: Yahoo

Military Times named U.S. Bank number No. 7 on its annual Best for Vets: Employers list, which ranks the best employers for veterans in the United States. The rankings are based on factors including recruitment, retention, advancement and family support. […]


News

Binance nixes mooted FTX acquisition deal

November 10, 2022

Via: FinTech Futures

Announcing the news on Twitter, Binance, the world’s largest crypto exchange, says: “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we […]