News Archive from October 29, 2012

Banks Prepare For Sandy OnslaughtOctober 29, 2012Most branches in the Northeast and Mid-Atlantic U.S. are closed; disaster recovery plans in progress.
Sandy Shuts Down Wall StreetOctober 29, 2012Hurricane Sandy, the monster storm bearing down on the U.S. East Coast, strengthened on Monday after hundreds of thousands moved to higher ground, public transport shut down and the U.S. stock market suffered its first weather-related closure in 27 years.<
Sheila Bair's 4 Types of Dysfunctional RegulatorsOctober 26, 2012Sheila Bair, former FDIC chair and current industry critic, thinks that regulators are partly to blame not only for the financial crisis and the banking industry's continuing lousy reputation, but she also has plenty of criticism for bankers and politician
Checking Balances, Viewing Transactions Are Top Mobile Usages, Study FindsOctober 26, 2012The study, conducted for Virtual Hold Technology by The Adcom Group, also found consumers grow increasingly frustrated when problems arise with mobile apps that prevent them from completing a task.
Spain on Track With Bank Sector ReformOctober 26, 2012Spain is on track to correct the problems in its financial sector, but needs more decisive action to deal with challenges facing some banks, the European Central Bank and the European Commission said in a joint statement on Friday.
Ally Looks to Sell Most of its Mortgage BusinessOctober 26, 2012Ally Financial Inc's banking subsidiary said on Friday that it was looking to sell most of its remaining mortgage business, the company's latest step toward exiting the home loan business to focus on its U.S. auto lending and banking operations.
Citi Fined $2 Million by Massachusetts Over Facebook IPOOctober 26, 2012Massachusetts top securities regulator said on Friday that his office fined a Citigroup Inc unit $2 million after research analysts improperly disclosed confidential information about Facebook Inc's initial public offering.
USAA, ING Direct, PNC Leaders in Customer Retention, Report SaysOctober 25, 2012Meanwhile, an analysis from Forrester Research also found that Chase, Wells Fargo, and Bank of America are the leaders in driving sales and attracting new customers.
Square Touches Down in CanadaOctober 25, 2012The mobile payment company will expand its presence outside the U.S. for the first time.
Financial Services CEOs Among Those Calling for Action to Reduce Federal DeficitOctober 25, 2012Chief executives of more than 80 big U.S. corporations, including Goldman Sachs , JPMorgan and Boeing, joined forces on Thursday to pressure Congress to reduce the federal deficit with tax reform and spending cuts.
Visa Names Former JPMorgan Chase Retail Head as New CEOOctober 24, 2012Charles W. Scharf, formerly CEO of Retail Financial Services for JPMorgan Chase, will succeed Joseph W. Saunders as Visa’s Chief Executive Officer.
ABN AMRO Upgrades Data Analytics CapabilitiesOctober 24, 2012The bank has partnered with Teradata Technologies to enhance its data warehouse to meet regulatory requirements and improve customer analytics.
Basel Official Defends New Global Bank Capital RulesOctober 24, 2012A simple approach to reining in risks at banks would fail to capture the complexity of modern day lenders, a top global regulator said.
Awareness and Interest in Mobile Money Services Grows in Developing WorldOctober 23, 2012Consumers want to make payments and send funds with their mobile devices, but issues with ease of use and trust in service providers remain biggest barriers to adoption, a Visa survey found.
Chexar and Visa Deliver Mobile RDC to Prepaid CardholdersOctober 23, 2012Visa prepaid cardholders will be able to deposit their checks with their mobile devices on to their prepaid cards, gaining immediate access to their funds.
Majority of IT Departments Ignorant of BYOD: ReportOctober 23, 2012Industry analyst Ovum surveyed 4,000 employees from around the world on their corporate BYOD policy.
First Virginia Community Bank Completes Acquisition of First Commonwealth Bank of VirginiaOctober 22, 2012The acquisition is the first in the history of the 5-old-bank and will add $410 million in assets to the institution.
J.P. Morgan Treasury Services Draws on Consumerization Trend in Relaunch of ACCESS PortalOctober 22, 2012J.P. Morgan Treasury Services draws on consumerization trend in relaunch of ACCESS portal; new platform for corporate clients was developed using collaborative agile methodologies.
Ex-Chase Exec Tapped for New Huntington Bank CTO PositionOctober 22, 2012Huntington Bank announced the hiring today of Paul Heller, formerly of JPMorgan Chase, as the bank's new chief technology and operations officer.
U.S. Bank Unveils Windows Phone Mobile Banking AppOctober 22, 2012The Minneapolis-based bank said it has developed two apps for the phone -- one through U.S. Bank's Wealth Management division and the other through U.S. Bank Retail Payment Solutions.
U.K. Retailer Sainsbury's Trials Mobile POS ServiceOctober 19, 2012The company says this is the first technology of its kind in the U.K.
MasterCard Pushes Contactless Payments in the Middle EastOctober 19, 2012MasterCard announced that it will soon install more than 1,000 terminals at merchants in the United Arab Emirates for its PayPass contactless cards initiative.
Ally Financial Latest U.S Bank to Face Cyber AttacksOctober 18, 2012Ally Financial Inc on Thursday became the latest U.S. financial institution to face cyber attacks that may stem from hackers in Iran.
Goldman Gives its Version of Angry Employee's DepartureOctober 18, 2012Just days before publication of a book promising to expose a rampant culture of greed a t Goldman Sachs Group Inc, the Wall Street company is writing its own story about the book's author.
What Banks Need to Know About the CloudOctober 18, 2012The industry group Cloud Security Alliance offers resources for financial institutions looking to utilize cloud services.

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