News Archive from January 29, 2013
Two U.S. Senators Press Justice Department on Bank Prosecutions January 29, 2013Two U.S. senators on Tuesday
questioned whether the Justice Department has been aggressive
enough in prosecuting misconduct at the largest banks and asked
the department to turn over information on how it determines
punishments. New Study Finds Bankers Expect Big Challenges And Few Benefits From Dodd-Frank 1073 January 29, 2013Bankers believe Dodd-Frank 1073, which will regulate cross-border-payments and will be implemented this year, will have a negative impact on their payments business, according to a new survey. U.K. Watchdog Closes Lehman Case Against Auditor E&Y January 29, 2013Britain's accounting watchdog
declined to take any action against Ernst & Young (E&Y) over its
auditing of Lehman Brothers before the U.S. investment bank
failed in 2008 and triggered a near meltdown in global markets. BofA's Moynihan Calls for Renewed Focus on Customers January 28, 2013Bank of America Corp must focus
on improving customer service as it moves past its crisis-era
problems, CEO Brian Moynihan said in a letter sent to employees,
signaling one of his strategies for boosting revenue at the
bank. Non-Banks Take Early Lead in Mobile Wallet Race January 28, 2013A report from Carlisle & Gallagher finds that nontraditional financial institutions are the current mobile wallet frontrunners, though the battle is far from over.
Bank of America Begins Moving $50 Billion of Derivatives to U.K. January 27, 2013Bank of America has begun
moving $50 billion of derivatives out of its Irish-based
operations into its British subsidiary, The Financial Times
reported on its website on Sunday, citing people close to the
operation. Wall Street Executives Fret About Talent Drain January 27, 2013New regulations combined with years of scandals and bad press has driven executive talent away from Wall Street and into Silicon Valley. Square COO Quit After Sex Harassment Accusation January 25, 2013After mysteriously quitting the prominent payments company it was discovered that Square's COO, Keith Rabois, is facing accusations of sexual harassment. Global Bank IT Spending to Reach $179.2 Bln in 2013: Celent January 25, 2013The research firm said in a new study that it expects IT spending by banks to grow this year led by banks in North America and the Asia-Pacific. Longtime Diebold CEO Swidarski Out After 17 Years January 25, 2013The company, a major manufacturer of ATMs, said the move was "in our stakeholders' best interests to make a change in leadership at this time."
BBVA Invests $100 Million in Financial Services Start-Ups in Silicon Valley January 24, 2013Following on the heels of similar investments in innovative start-ups, the bank said that it is making concerted effort to anticipate and tackle disruptive changes in financial services. Obama to Tap Former Federal Prosecutor to Head SEC January 24, 2013President Barack Obama will
nominate former federal prosecutor Mary Jo White to head the
Securities and Exchange Commission (SEC), a White House source
said, restoring the agency's power to work on its overhaul of
Wall Street. Investors Blinded by Banks' Calculation of Risky Assets, Says Basel Chairman January 24, 2013Material differences in the way
banks define their risky assets is blinding investors' ability
to make informed choices about where to put their money, a top
regulator said on Thursday. More Than Half of Banks Hit by DDoS Attacks Last Year, Study Finds January 23, 2013In a recent survey conducted by the Ponemon Institute, more than half of the banking IT professionals in the study said their bank had experienced at least one DDoS in the previous 12 months. Bank Websites Must Meet Digital Customers' Needs, Says Forrester January 23, 2013The secure websites of the largest retail banks in the U.S. are not evolving to meet the current needs and expectations of consumers in a digital environment, said the research firm.
Top E.U. Banks Told to Write "Living Will" January 23, 2013Top banks in the European Union
must present so-called "living wills" by the year-end spelling
out how they would survive a crisis without taxpayer aid. Branch Closures Revved Up in Late 2012, Study Finds January 22, 2013The pace of branch closings in the U.S. more than doubled in the last quarter of 2012 as banks looked to cut costs, a new report by SNL Financial found. U.S. Fed Missed Warning Signs in 2007 As Crisis Gathered Steam January 18, 2013Recently released transcripts from Fed meetings in 2007 show Geithner, Bernanke and other Fed officials did not expect the coming crisis even as trouble signs mounted. Make ‘Em Laugh: 6 Funny Bank Videos That Drive Engagement January 18, 2013Banks may not be thought of as having a sense of humor, but these videos prove banks can laugh, often at themselves.
Capgemini Financial Services Names Thierry Delaporte As New CEO January 18, 2013Delaporte, who has worked with the company for more than 17 years, will take over the leading role for the outsourcing and consulting firm from Aiman Ezzat. Webster Bank Names New CIO January 18, 2013Colin Eccles, former CIO at Umpqua, will focus on development of e-banking solutions at Connecticut-based Webster Bank. BBVA Unveils Mobile RDC for iPhone January 18, 2013The bank said the features will soon be available for the iPad and Android devices as well.
Mortgage Cases to Test U.S. Use of Once-Obscure Fraud Statute January 17, 2013Banks are testing U.S. authorities' use
of a once-obscure statute to bring more cases tied to the
financial crisis, arguing the government is twisting the law
beyond what it can do. New CFPB Regulations Target Mortgage Servicers January 17, 2013The CFPB announced new rules today regulating the mortgage servicing industry in the hopes of helping struggling borrowers. Tycoons Shunning Financial Services as They Get Richer January 17, 2013Tycoons are shunning banks and
wealth managers, preferring to put a flood of money from selling
stakes in companies into property and new ventures rather than
trust industries whose reputations have been battered by the
global financial crisis. See more news