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Regulations

Biden reshuffles US financial regulators to reign in corporates

January 20, 2021

Via: Banking Technology

On Monday, just two days before his inauguration, Biden announced the appointment of Rohit Chopra to direct the Consumer Financial Protection Bureau (CFPB). Biden also nodded to his intent to nominate Gary Gensler as the next chair of the Securities […]


Capital and Risk, Liquidity

Bitcoin and U.S. tech stocks are the biggest market bubbles right now, investors say

January 19, 2021

Via: CNBC

Bitcoin and U.S. tech stocks are viewed by investors as the biggest market bubbles right now, according to a Deutsche Bank survey released Tuesday. The survey, which is based on responses from 627 market professionals between Jan. 13-15, found that […]


Activity, Insurance

Texas Extends Workers’ Comp Insurer COVID-19 Data Call to June

January 19, 2021

Via: Insurance Journal

The Texas Division of Workers’ Compensation (DWC) has extended until June 2021 its mandatory data call for information related to COVID-19 injuries reported to selected insurance carriers on or after Dec. 1, 2019. The data call was originally issued on […]


Activity, Investment Banking

Strong Investment Banking to Support BofA (BAC) Q4 Earnings

January 18, 2021

Via: Yahoo

Performance of investment banking (“IB”) business, one of the key revenue sources of Bank of America BAC, is likely to have been impressive in fourth-quarter 2020. Hence, this is expected to provide much needed support to the bank’s results, scheduled […]


Products, Retail Banking

US banks must lose “legacy anchor” to meet customer needs in 2021

January 18, 2021

Via: FinTech Futures

COVID-19 has become a catalyst for an acceleration amongst the everyday banking customer. ValuePenguin data shows 71% of US banking customers now regularly use online banking. What’s more, footfall in the branch has dipped, as customers stay away from personal […]


Capital and Risk, Credit, Regulations

PPP portal access to expand to small banks Friday, all lenders Tuesday

January 14, 2021

Via: Banking Dive

The gradual rollout was meant to give smaller institutions an early advantage in accessing the $284 billion shuttled to PPP through a coronavirus aid bill signed Dec. 27. But the timeline gives community banks and credit unions one business day […]


Regulations

Visa and Plaid call off $5.3bn merger after US regulatory pressure

January 13, 2021

Via: FinTech Futures

The US Department of Justice (DOJ) filed a civil antitrust lawsuit against the merger back in November. It alleged that Visa’s reason for acquiring Plaid was to take a future competitor out of the market. Now all parties have all […]


Regulations

Thoughts on a Biden Presidency’s Impact on Banks

January 13, 2021

Via: Bank Director

On Jan. 20, Joseph R. Biden Jr. will be sworn in as the 46th President of the United States. Though President-elect Biden has been a staple of U.S. politics for over four decades, the potential impacts of his administration on […]


Products, Regulations, Retail Banking

Major banks suspend political donations after US Capitol siege

January 11, 2021

Via: Banking Dive

Goldman Sachs and JPMorgan will suspend contributions to both political parties for six months. “The country is facing unprecedented health, economic and political crises,” Peter Scher, JPMorgan’s head of corporate responsibility, told CNBC. “The focus of business leaders, political leaders, […]


Regulations

Deutsche Bank to pay more than $130M to settle anti-bribery, spoofing cases

January 11, 2021

Via: Banking Dive

“Deutsche Bank engaged in a seven-year course of conduct, during which it failed to implement a system of internal accounting controls regarding the use of company funds and falsified its books and records to conceal corrupt and improper payments,” Robert […]