U.S. Regulators Give Banks Time to Spin Off Swap TradingJanuary 03, 2013Banks could have up to three
extra years to comply with a new U.S. rule requiring firms that
receive federal deposit insurance to spin off some of their
swaps trading into separate arms, U.S. regulators said on
Thursday.
Worldwide IT Spending to Rise 4.2 Percent in 2013 : GartnerJanuary 03, 2013Worldwide IT spending was expected
to rise 4.2 percent in 2013 to $3.7 trillion, a pick-up from 1.2
percent growth forecast for last year as the gloom hanging over
businesses and consumers starts to lift, industry research firm
Gartner said.
U.S. Consumers Paying Down Debt Despite Obstacles, ABA SaysJanuary 02, 2013Consumers continued the trend of paying down household debt last year, but the American Bankers Association warns that trend might falter next year with the expiration of the payroll tax cut and continued economic uncertainty.
Android, iPhone are Top Fraud Targets, Study FindsJanuary 02, 2013A Javelin Strategy & Research report on mobile payments found that the two most popular smartphone platforms are targets for fraudsters.
Passage of Bill to Avoid 'Cliff' Should Bolster Wall StreetJanuary 01, 2013U.S. stocks are poised for gains
to begin the year after the late passage of a bill to avoid
harsh tax hikes that would have hit most Americans and crimped
economic growth.
RBS Wins Dismissal of Lawsuit by South Korea's WooriDecember 27, 2012Royal Bank of Scotland Group
Plc on Thursday won the dismissal of a lawsuit by South
Korea's Woori Bank over losses from mortgage-related
investments, in a case between two big banks put under state
control following financial crises.
Major Borrowers to Reduce Bank Deposits: Fed SurveyDecember 27, 2012Wall Street dealers expect
hedge funds, insurance companies and other borrowers to pull
some cash from commercial banks when a financial crisis-era
deposit insurance program expires at the end of the year, the
Federal Reserve said on Thursday.
Wells Fargo Doesn't Have to Pay Clients $203 Million: CourtDecember 26, 2012A U.S. appeals court
vacated an injunction and a $203 million restitution order
against Wells Fargo & Co in consumer litigation over the
bank's overdraft policies, according to a ruling issued on
Wednesday.
Regulatory Black Hole Puts Banks Off DealsDecember 21, 2012Regulatory uncertainty is
putting large banks off buying the assets of smaller rivals,
complicating the sector's restructuring and giving hedge funds
and private equity a golden opportunity to swoop in.
Regulatory Black Hole Puts Banks Off DealsDecember 21, 2012Regulatory uncertainty is
putting large banks off buying the assets of smaller rivals,
complicating the sector's restructuring and giving hedge funds
and private equity a golden opportunity to swoop in.
JPMorgan Chase Buys Bloomspot to Expand Card MarketingDecember 20, 2012JPMorgan Chase & Co,
one of the biggest card issuers and transaction processors, said
it has bought Silicon Valley firm Bloomspot Inc to expand its
consumer marketing programs for merchants.
ICE CEO Says Proposal to Buy NYSE 'Well Received' by RegulatorsDecember 20, 2012IntercontinentalExchange Inc's
$8.2 billion proposal to acquire NYSE Euronext has been
"well received" by regulators, ICE Chief Executive Jeffrey
Sprecher said on Thursday.
Branches Remain A Key ChannelDecember 20, 2012Banks that invest in the branch and provide a cutting-edge experience are ahead of the pack, says research firm RBR.
USAA Ranks First in Customer Satisfaction Study by ath Power ConsultingDecember 19, 2012Banking customer satisfaction rose across the country according to the results of a recent nationwide customer experience study by ath Power Consulting, with USAA topping all banks for the third year running.
BofA CEO: Fed Wants Bank to Show Consistent EarningsDecember 18, 2012Bank of America Corp
needs to show the U.S. Federal Reserve it can produce
consistent earnings as part of the annual process to gain
permission to return more capital to shareholders, CEO Brian
Moynihan said in an interview.
Europe to Miss Basel III Deadline After EU Talks PostponedDecember 18, 2012Europe will definitely fail to
meet the globally-agreed January deadline for the implementation
of tougher capital requirements for banks after European Union
talks to agree the rules were postponed on Tuesday.
U.S. Agency Sues JPMorgan Over Mortgage SecuritiesDecember 17, 2012The U.S. credit union regulator sued
JPMorgan Securities and Bear Stearns & Co on Monday over $3.6
billion in mortgage securities the bank allegedly sold to credit
unions that collapsed because of losses from the securities.
Internet Regulation Seen at National Level as Treaty Talks FailDecember 16, 2012The world's major Internet companies,
backed by U.S. policymakers, got much of what they wanted last week when many
nations refused to sign a global telecommunications treaty that opponents feared
could lead to greater government control over online conten
Mobile RDC for Commercial Clients On the HorizonDecember 14, 2012While some banks are still catching up to offer mobile remote deposit capture for retail customers, some banks are already looking to offer it to commercial clients in early 2013.
