News Archive from February 28, 2013
Consumers Yet To Trust Mobile Banking and Alternative Payments, Study Finds February 28, 2013A survey by BT Global Services suggests that consumers have yet to be sold on the security of mobile banking and alternative payments services. FINRA Tabs Citi's Randich as New CIO February 28, 2013Steven Randich, currently co-CIO at Citi, will begin his new role at the regulatory body on March 11.
U.S. Senate Approves Lew as Treasury Chief February 27, 2013The Senate confirmed Obama's nominee Jack Lew to succeed Timothy Geithner as U.S. Treasury Secretary yesterday. JPMorgan To Cut Up To 17,000 Jobs By End of 2014 February 26, 2013The cuts will mostly come from the mortgage and retail banking divisions as the bank looks to expand in other areas such as investment banking and credit cards.
U.S. Senate Panel Backs Lew for Treasury Secretary February 26, 2013Jack Lew's nomination for Treasury Secretary cleared the Senate Finance Committee yesterday, clearing the way for a full senate vote on his confirmation. How to Make The Jump from Mobile Commerce to Mobile Wallets February 26, 2013Mobile commerce is on the rise but providers need to offer an enhanced customer buying experience to get consumers to pay with their mobile devices at the point-of-sale. JPMorgan Chase to Cut Up to 4,000 Jobs in 2013 February 26, 2013JPMorgan Chase & Co
plans to cut 3,000 to 4,000 jobs in its consumer bank in 2013,
representing about 1.5 percent of the company's overall
workforce, it said in a presentation to investors on Tuesday. Bank Failures Down in 2013 February 26, 2013Three banks have been shuttered so far in 2013, compared with 11 over the same time period last year.
White House Will Soon Revive Cyber Security Legislation Push February 25, 2013A senior adviser to
President Barack Obama said the White House will soon renew
efforts to push cyber security legislation through Congress,
though he foresaw an uphill battle given the failure of the last
attempt. Visa and Samsung Partner to Deliver NFC Capability to Banks’ Mobile Offerings February 25, 2013A new partnership between the credit card company and mobile manufacturer will allow banks to load payment account information on to Samsung NFC-enabled phones. MasterCard, mFoundry team up on Mobile Payments February 25, 2013mFoundry will integrate the new MasterPass digital service with its mobile banking solutions.
HP Eyes Tablet Comeback With Android-Backed Slate 7 February 24, 2013With personal computer sales falling HP is focusing on growth in the mobile sector with a new Android-based tablet priced lower than the Amazon Kindle or Nexus 7. RBS Plans IPO For U.S. Arm Citizens In Next Two Years February 24, 2013British regulators have been pushing Royal Bank of Scotland to sell off its U.S. operation Citizens Bank and an IPO is expected in the next couple of years to sell off shares of Citizens. Oracle Launches New Compliance and Risk Management Solutions February 22, 2013New Oracle Financial Services Foreign Account Tax Compliance Act Management targets pending FATCA requirements; expanded Oracle Financial Services Enterprise Risk Management suite addresses challenges around stress testing and model risk management. PayPal Targets European Mobile Payments Market February 22, 2013The payments company is releasing a Chip-and-PIN version of its mobile credit card reader in the U.K.
Citigroup Bows to Shareholder Pressure, Overhauls Pay February 21, 2013Citigroup Inc said on
Thursday it has overhauled an executive pay plan that
shareholders rejected last year as overly generous, revising it
to tie bonus payments more closely to stock performance and
profitability. Verifone Shares Nearly Halve, Analysts Query Management February 21, 2013After cutting its profit outlook for the next quarter analysts are questioning the management of payments hardware provider Verifone as to how they could have been so far off on their profit estimates. IBM Launches Mobile Business Product Suite February 21, 2013IBM MobileFirst is designed to help the company's business customers create an efficient mobile environment.
U.S. Banks Provided $45 Billion in Homeowner Relief Under Mortgage Deal February 21, 2013Five top U.S. banks have
provided $45.8 billion worth of relief to struggling homeowners
under a 2012 federal-state settlement to resolve mortgage
abuses, according to a report released Thursday by a monitor of
that settlement. U.S. DOJ Probing JPMorgan Over Bear Stearns Mortgage Products February 21, 2013The U.S. Justice Department is
investigating JPMorgan Chase & Co over allegations that
Bear Stearns provided misleading information about its mortgage
products during the lead-up to the financial crisis, according
to people familiar with the matter. Fiserv Offers New Tools For Managing ATM Networks February 20, 2013Fiserv has updated its Device Manager solution for managing ATM’s with new analytics-driven capabilities in incident tracking, reporting and resolution. Identity Fraud at a Three-Year High February 20, 2013A report from Javelin Strategy & Research finds that more than $21 billion was stolen due to identity fraud in 2012.
Russian Central Banker Slams Vast Criminal Cash Exports February 20, 2013Russia's central bank chief said
nearly $50 billion, or 2.5 percent of the national income, had
been sent abroad illegally in 2012, much of it controlled by a
single group of people - whom he did not identify. Bank of America's Moynihan Gets 73 Percent Pay Increase in 2012 February 19, 2013Bank of America Corp's CEO Brian
Moynihan was awarded a 73 percent pay increase in 2012, when the
institution resolved crisis-era lawsuits and its stock was one
of the sector's top performers. Citi to Buy Capital One Best Buy Card Portfolio February 19, 2013Citi will pay $7 billion to acquire Capital One's Best Buy private label and co-branded credit card accounts.
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