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Activity, Corporate banking

Bank of America Doubles Profit in Fourth Quarter, Beats Estimates

January 16, 2019

Via: TheStreet

Bank of America Corp. (BAC – Get Report) said profit doubled in the fourth quarter from a year earlier, when the second-largest U.S. bank took a big write-down related to passage of the 2017 tax law. Net income rose to […]


Activity, Insurance

2019 Cyber Insurance Predictions: Strong Drivers for Growth Ahead

January 15, 2019

Via: Insurance Journal

Cyber insurance is trending upward, the industry is growing, and the technology around it is evolving at a very quick pace. While predictions are always hard to make, here are five trends that are likely to catapult the cyber insurance […]


Business banking, Products, Retail banking

Citi partners with MoneyBack for customer rewards

January 15, 2019

Via: Banking Technology

By integrating Citi rewards into the MoneyBack platform, Citi cardholders can convert their credit card points into MoneyBack points on the website or mobile app, which then can be used at over 600 partner outlets for discounts, including PARKnSHOP and […]


Capital and risk, Macroeconomic

U.S. economy could slip from top spot in 2020 and keep slipping, analysts say

January 14, 2019

Via: Market Watch

America’s days as the world’s most powerful economy are numbered, and when that torch is finally passed, it’ll be tough to get back, according to a recent report. In our call of the day, Standard Chartered predicts China’s GDP will […]


Activity, Trading

U.S. stock futures drop as China trade data spark fresh global economic worries

January 14, 2019

Via: Market Watch

U.S. equities were looking at a potentially downbeat start to the week, as stock futures fell Monday on weaker-than-expected China trade data that has sparked fresh concerns over a global economic slowdown. How are major benchmarks faring? Dow Jones Industrial […]


Activity, Insurance

California Prohibits Auto Insurers From Considering Gender When Setting Prices

January 8, 2019

Via: Insurance Journal

Consumer groups applauded the outgoing California insurance commissioner for adopting regulations to prohibit gender use in auto insurance pricing in California. Outgoing California Insurance Commissioner Dave Jones issued an order to put into effect rules which the groups say will […]


Capital and risk, Operational

Seven Bank ATMs go biometric for account opening

January 8, 2019

Via: Banking Technology

Japan’s Seven Bank will equip its ATMs with face recognition capabilities to let users open bank accounts on the spot. According to Japan Today and sources close to the matter, the tech could be coming in the autumn. Although the […]


Capital and risk, Credit

JPMorgan Chase Agents $3.65B Revolver for Shopping Network QVC

January 7, 2019

Via: ABF Journal

QVC refinanced its senior secured credit facility, replacing its $2.65 billion bank credit facility with a new amended and restated multi-currency revolving credit facility which provides a line of credit of up to $3.65 billion. According to the related 8-K […]


Products, Regulations, Retail banking

USAA customers to get $12m back for payment errors

January 7, 2019

Via: Banking Technology

USAA Federal Savings Bank has been ordered to pay $12 million in restitution to customers and got hit with a $3.5 million fine for its unusual payment behaviour. In its consent order, the Consumer Financial Protection Bureau (CFPB) says it […]


Capital and risk, Macroeconomic

Wall Street bear David Rosenberg warns that a recession is virtually unavoidable this year

January 3, 2019

Via: CNBC

One of Wall Street’s biggest bears is warning the economy is on a collision course with a recession. Gluskin Sheff’s David Rosenberg has little doubt growth will turn negative in 2019 as the stock market flounders. “We’re going into a […]