February 23, 2023
Via: Insurance JournalA New York appeals court last week upheld the dismissal of Madison Square Garden’s Covid-19 business interruption claim against Factory Mutual Insurance Co. The court agreed with a New York County court’s dismissal in January, 2002 after it found that […]
Capital and Risk, Insurance, Regulations
September 26, 2022
Via: Insurance JournalThe 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 […]
June 13, 2022
Via: Bank DirectorThe 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 […]
May 16, 2022
Via: American BankerThe 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 […]
April 27, 2022
Via: Banking DiveThe 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 […]
April 27, 2022
Via: Payments DiveVisa 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 […]
March 29, 2022
Via: Payments DiveThe 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
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, […]
March 8, 2022
Via: YahooThe 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 […]
January 31, 2022
Via: DailyFXDespite 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 […]
January 24, 2022
Via: Banking DiveBanks 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 […]
January 13, 2022
Via: JD SupraThe 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
December 30, 2021
Via: CNSNews.comWhen 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 […]
October 26, 2021
Via: FinTech FuturesCompetition 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) […]
October 18, 2021
Via: FinTech FuturesWith 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
October 13, 2021
Via: Banking DiveStarting 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 […]
September 29, 2021
Via: DailyFXAfter 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 […]
September 20, 2021
Via: FinTech FuturesResearch 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 […]
August 18, 2021
Via: Banking DiveThe 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 […]
August 2, 2021
Via: FinTech FuturesWhile 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 […]