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Category: News


News

Are Bank Directors Worried Enough About Fair Lending?

September 28, 2022

Via: Bank Director

If your bank has not modernized its fairness practices, the old ways of doing fair lending compliance may no longer keep you safe. Here are three factors that make this moment in time uniquely risky for lenders when it comes […]


News

First National Bank Named a Pittsburgh Area Top Workplace for 12 Consecutive Years

September 26, 2022

Via: PR Newswire

First National Bank, the largest subsidiary of F.N.B. Corporation ( NYSE: FNB), announced today that it has again been named a Greater Pittsburgh Top Workplace by the Pittsburgh Post-Gazette. FNB, which was the highest-ranking bank in the large company category, […]


News

Holiday spending to rise 7.1%: Mastercard

September 13, 2022

Via: Payments Dive

Overall, the card company expects spending to rise over 2019 pre-pandemic levels this holiday season, despite the uncertain economic environment, including inflation and higher interest rates. Indeed, Mastercard expects total retail sales, excluding auto, to jump 18.8% over the 2019 […]


News

Banking is Changing: Here’s What Directors Should Ask

September 13, 2022

Via: Bank Director

One set of attributes for effective bank directors, especially as community banks navigate a changing and uncertain operating environment, are curiosity and inquisitiveness. Providing meaningful board oversight sometimes comes down to directors asking executives the right questions, according to experts […]


News

Bank of America to issue revamped office-return policy in 6-8 weeks

September 7, 2022

Via: Banking Dive

Bank of America will release a revamped office-return policy in the next six to eight weeks, CEO Brian Moynihan told an audience Tuesday at a banking conference in New York. “We’ll have more flexibility than we did, on paper, before,” […]


News

Credit Suisse sells global trust business to Butterfield and Gasser Partner

September 7, 2022

Via: FinTech Futures

Butterfield will acquire Credit Suisse Trust’s (CST) business in Guernsey, Singapore and the Bahamas while Gasser is set to snap up CST’s Liechtenstein business. Credit Suisse head of investment solutions and sustainability, Michael Strobaek, says the firm regularly reviews its […]


News

U.S. Bank, Opendorse Team up to Deliver Comprehensive Financial Literacy Education to Student-Athletes

August 30, 2022

Via: Yahoo

U.S. Bank and Opendorse today announced a strategic collaboration that will bring financial literacy education to thousands of student-athletes navigating the emerging landscape of name, image and likeness. Through a first-of-its-kind collaboration, 80,000+ athletes on the Opendorse platform will have […]


News

Financial Services Companies Urged to Hire More Working-Class Managers

August 16, 2022

Via: Insurance Journal

Financial services companies should set “stretching targets” for appointing people from working class backgrounds to senior positions, a UK government-sponsored report said on Thursday [Aug. 11]. The finance industry is already making efforts to appoint more women, Black and ethnic […]


News

Where Banks Can Find Tech Talent

August 8, 2022

Via: Bank Director

Even as the labor market cools, the need for tech talent remains particularly acute. The problem for banks is that they compete not just with other banks, credit unions and financial technology companies for data scientists, software engineers and product […]


News

Wells Fargo to restart updated diverse hiring policy

August 2, 2022

Via: Banking Dive

Wells Fargo defended its 2020 diverse slate policy Monday by citing its own hiring statistics. External hiring volume in the bank’s U.S. roles increased 17% in 2021, compared with 2020, Wells Fargo said. At the same time, the bank’s external […]


News

Lloyds Banking Group to close 66 more bank branches

July 29, 2022

Via: FinTech Futures

The closures are the latest in a long line of branch closures as high street banks grapple with changing customer behaviours and the shift to mobile and digital-first banking. Lloyds Banking Group says it has 19.1 million online banking customers […]


News

The carrots and sticks of open banking

July 7, 2022

Via: American Banker

Each American bank has an opportunity to stay ahead of the regulatory environment by adopting and building open banking systems that serve both its customers and the bank itself. That’s according to experts who discussed the subject at American Banker’s […]


News

5 Million Barrels of Oil Biden Released from Strategic Reserves in June Went to Foreign Countries, Not Americans

July 6, 2022

Via: CNSNews.com

President Joe Biden claims that his release of oil from the U.S. Strategic Petroleum Reserves (SPR) is helping reduce the price at the pump in America, but more than five million barrels of the oil released from the reserve went […]


News

Central bank digital currency (CBDC) – why go slow

July 6, 2022

Via: FinTech Futures

Central banks around the world are gripped in an uncharacteristic frenzy. Almost every central bank is at least setting up “commissions” to look into the luring and jarring prospect of redefining their national currency. A few countries simply embraced Bitcoin […]


News

Aussie BNPL firm Openpay puts a pause on US operations

July 5, 2022

Via: FinTech Futures

In January 2022, Openpay had decided to withdraw from the UK market and had also appointed US investment bank Keefe, Bruyette & Woods (KBW) as corporate advisors to assist with the search for potential investors. “However, given the current macroeconomic […]


Channels, News

Daxsen Group to launch new digital bank in Ecuador

July 1, 2022

Via: FinTech Futures

With Daxsen Bank, the firm intends to reduce operational and transactional costs to “revolutionise” the country’s banking sector. “This is intended to be a digital bank that will open accounts at no cost and improve banking operations through the management […]


News, Regulations

UK neobank Kroo gains full banking licence

June 28, 2022

Via: FinTech Futures

With the new licence now in hand, Kroo can offer depositors protection through the Financial Services Compensation Scheme (FSCS) for up to £85,000. Founded in 2016, Kroo offers its 23,000 customers a current account with overdraft facilities along with socially […]


News

J.P. Morgan Asset Management Bolsters Retirement Income Capabilities with Hire of Daniel Yem as Senior Investment Specialist

June 27, 2022

Via: PR Newswire

J.P. Morgan Asset Management today announced the hire of Daniel Yem as a Senior Investment Specialist to support the firm’s Retirement Solutions team. Mr. Yem will be based in New York and reports to Daniel Oldroyd, Head of Target Date […]


News

Contractionary Monetary Policy: What is it and How Does it Work?

June 17, 2022

Via: DailyFX

Contractionary monetary policy is the process whereby a central bank deploys various tools to lower inflation and the general level of economic activity. Central banks do so through a combination of interest rate hikes, raising the reserve requirements for commercial […]


News

U.S. Bank tests well-being guidelines with outside counsel

June 16, 2022

Via: Banking Dive

Morgan Lewis partner Michael Kraut and his family were moving briskly through the San Diego airport to catch a flight home from vacation early this year when Kraut received an email from a U.S. Bank lawyer asking him to review […]