American Express to Cut 5,400 JobsJanuary 10, 2013Credit card company American Express Co
said it would cut about 5,400 jobs, or 8.5 percent of
its workforce, as it restructures its business and pay legal
bills.
Morgan Stanley Job Cuts May Signal More Pain AheadJanuary 09, 2013Morgan Stanley plans to slash 1,600
jobs in what may be just the beginning of a new round of layoffs
at large investment banks, this time driven by a deeper
reassessment of Wall Street businesses in the face of new
regulations and capital standards.
Senator Pushes to Ban Bankers From Fed BoardroomsJanuary 09, 2013An outspoken Senate critic of
the Federal Reserve said on Wednesday that he would reintroduce
legislation to ban bankers from the boardroom of the 12 regional
Fed branches, citing potential conflicts of interest.
Mobile Banking to Exceed One Billion Users by 2017January 09, 2013A new report from Juniper Research also predicts that China, North America and Western Europe will have the highest penetration of mobile banking users.
New Currency Exchange Platform Launched in U.S.January 08, 2013USForex, a subsidiary of Sydney-based OzForex Group, allows clients to make international foreign payments and money transfers.
Looser Bank Buffer Rules No Panacea For Europe, U.S.January 07, 2013A decision by global
regulators to give banks more time and flexibility to build cash
reserves will not boost lending or speed recovery in
debt-strapped Europe, where firms and households have scant
appetite to borrow.
FundTech Introduces New President and COOJanuary 07, 2013Edward Ho, formerly of Misys, was named as the new president and COO of Fundtech after the departure last week of two of the company's top executives.
Celent Report Explores Top Payments TrendsJanuary 07, 2013Celent released its annual report on the top 10 trends in today's retail payments market, which focused on digital wallets, regulations and alternative payments.
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.
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.
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.
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.
