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Tag: COVID-19


Capital and Risk, Insurance, Regulations

Vermont Supreme Court Revives COVID-19 Business Interruption Insurance Claim

September 26, 2022

Via: Insurance Journal

The Vermont Supreme Court has kept alive a COVID-19 business interruption loss claim by major shipbuilder against a group of reinsurers. The state’s high court ruled that the case brought by Huntington Ingalls Industries Risk Management and its captive insurer […]


Activity, Retail Banking

Modernizing Your Retail Banking Business

June 13, 2022

Via: Bank Director

The Covid-19 pandemic accelerated the decline of traffic in most banks’ retail branches, leading many organizations to reexamine the cost of their branch services and the ultimate viability of their branch-based services. Bank boards and executive teams must address the […]


Capital and Risk, Operational

Open finance is the future of banking

May 16, 2022

Via: American Banker

The global COVID-19 pandemic has shone a floodlight on financial vulnerabilities and the stress they cause for families. A recent survey shows that only 22% of Americans give themselves high scores on their own financial wellness. This is a failing […]


Regulations

Drama over Fed nominee Cook overshadows Brainard confirmation

April 27, 2022

Via: Banking Dive

The Senate on Tuesday confirmed Federal Reserve Gov. Lael Brainard, by a 52-43 vote, to serve as the central bank’s vice chair. Then the drama unfolded. Democrats had initially planned to push ahead with a vote on fellow Fed nominee […]


Activity, Retail Banking

Visa earnings rise on cross-border revival despite Russia impact

April 27, 2022

Via: Payments Dive

Visa and other card companies’ businesses have been recovering from the damper that the COVID-19 pandemic put on international corporate and consumer travel and spending. That was evident from results for Visa’s fiscal second quarter in which that cross-border activity […]


Capital and Risk, Credit

Credit card late fees likely to keep climbing, CFPB says

March 29, 2022

Via: Payments Dive

The COVID-19 pandemic offered some relief when it came to the amount consumers forked over in credit card late fees, which account for more than half of the credit card market’s consumer fees, the CFPB report said. Prior to the […]


Capital and Risk, Macroeconomic

We Can’t Escape ‘Lunchflation’ Under Biden’s Economic Strategy, Business and Economic Professor Warns

March 23, 2022

Via: CNSNews.com

“You can’t escape this inflation, because it is driven by things like energy prices, which flow into everything,” Business and Economics Professor Brian Brenberg at King’s College said Wednesday, when asked about “lunchflation.” In a Fox and Friends First interview, […]


News

U.S. Bank Survey Reveals: A New Generation of Female Investors is Redefining Wealth and Influence

March 8, 2022

Via: Yahoo

The world has changed dramatically since the pandemic began, and according to new U.S. Bank research, so has the way women manage their money. U.S. Bank first released its Women and Wealth Insights Study in March 2020, just as the […]


Capital and Risk, Trading

Small, Short-Term Plays in Equity Indices: Top Trade Q1 2022

January 31, 2022

Via: DailyFX

Despite trading near all-time highs, equity indices may be a source of volatility and two-sided action as changing interest rates, inflation, and COVID-variants are likely to continue dominating headlines in early 2022. IMPLIED VOLATILITY OF INDEX ETFS 12/17/21 Implied volatility […]


News

U.S. banks close 2,927 branches in 2021, a 38% jump

January 24, 2022

Via: Banking Dive

Banks are reducing their branch footprints as more customers choose to manage their accounts through mobile and other digital channels, instead of banking at traditional brick-and-mortar retail locations. The S&P Global report indicates the COVID-19 pandemic has accelerated the shift […]


Regulations

Bank Fraud Involving PPP Loans Could Lead to Prison Time, Even for Relatively Small Advances

January 13, 2022

Via: JD Supra

The U.S. Department of Justice has recently begun charging defendants with bank fraud in relation to Paycheck Protection Program loans as part of its continuing efforts to investigate and prosecute individuals for crimes associated with COVID-19 related aid. If the […]


Capital and Risk, Macroeconomic

The Trump Economic Record Looks Better Every Day

December 30, 2021

Via: CNSNews.com

When running against Donald Trump for president, Joe Biden often made the now-ironic charge that any president who has allowed so many deaths from COVID-19 should never be in the White House. Today, there are more deaths from COVID under […]


Activity, Corporate Banking

The top three community banking trends for 2022

October 26, 2021

Via: FinTech Futures

Competition in the banking sector has heated up over the past year as a result of the COVID-19 pandemic accelerating the shift to digital services. But, as businesses and local communities re-engage with more in-person interactions, community financial institutions (CFIs) […]


Capital and Risk, Trading

The importance of democratising online trading

October 18, 2021

Via: FinTech Futures

With the rise of the COVID-19 pandemic, the online trading industry saw a steep surge of new users. Now more than ever, traders are emerging from all walks of life. The days of trading being accessible only to big banks […]


Activity, Corporate Banking, Investment Banking

JPMorgan’s $2.1B reserve release drives 24% profit spike

October 13, 2021

Via: Banking Dive

Starting in early 2020, the banking industry, JPMorgan Chase included, began growing its loan-loss reserves in anticipation of bad loans over the economic impacts of the COVID-19 pandemic. After setting aside billions over more than a year, banks have been […]


Capital and Risk, Liquidity

US Dollar, Japanese Yen May Rise if Fed Policy Destabilizes CLO Market

September 29, 2021

Via: DailyFX

After the market implosion in March 2020, the cost of credit briefly spiked across the financial universe as a reflection of the increased risk facing debt holders. However, aggressive Fed policy in the form of multi-trillion dollar bond purchases pressured […]


Capital and Risk, Operational

Sberbank deputy chair: “We’re the number one target for hackers around the globe”

September 20, 2021

Via: FinTech Futures

Research by Accenture predicts that between 2019 and 2023, the banking sector is at risk of losing $347 billion as a result of direct and indirect cyberattacks. The issue has further been exacerbated by the COVID-19 pandemic. Bank of America’s […]


News

Piermont Bank leans on its flexibility amid COVID-19 resurgence

August 18, 2021

Via: Banking Dive

The resurgent caseload of COVID-19 is forcing some large, long-standing banks to revise their office-return timelines and improvise fresh policy. But Piermont Bank, which opened two years ago, has been molded by the pandemic. Like many financial institutions, Piermont went […]


Activity, Retail Banking

Report: Self-service banking – the key to customer acquisition and retention

August 2, 2021

Via: FinTech Futures

While necessitated by the closing of branches and the reduction in contact, it has exposed an unprecedented number of users to the potential of alternative methods of self-service banking. Consumers have become reluctant to visit branches, with 26% saying they […]


Channels

How COVID-19 has accelerated the use of digital banking solutions in Africa

July 20, 2021

Via: FinTech Futures

Distinct patterns and relationships have emerged in Africa and will continue to shift – across organisations, businesses, regulators, consumers and society. Green shoots have already presented themselves, and the future players have not only capitalised on this but have already […]