News Archive from March 5, 2013
Banks Urge U.S. Judge to Throw Out Libor Lawsuits March 05, 2013Banks facing a barrage of
lawsuits from customers accusing them of interest-rate rigging
argued on Tuesday that the cases should be dismissed, saying
there is no evidence of antitrust or other violations. Number of Undercapitalized Banks At Lowest Level Since 2009, Report Says March 05, 2013A report released today by SNL Financial shows that the number of undercapitalized banks has declined significantly in recent years, but much of that decline has been caused by bank failures. Wells Fargo May Test Mortgage Servicing Rights Market March 05, 2013Wells Fargo & Co could look to
sell mortgage servicing rights from time to time but isn't under
any capital pressure to do so, Chief Financial Officer Tim Sloan
said on Tuesday. 7 Big Data Players To Watch March 05, 2013New York City, IBM, State Street and four other organizations are developing innovative ways to leverage the ever-increasing volumes of data they're amassing. The Future of Multichannel Banking March 04, 2013A panel of bank technologists discussed the evolution of multichannel banking at Celent's Insight & Innovation Day.
IDC Predicts IT Spending To Increase 6% In U.S. In 2013 March 04, 2013IDC’s new version of its quarterly Black Book predicted that IT spending will rise as the economy improves in the second half of the year. Big Data At J.P. Morgan: Delivering The Firm March 04, 2013J.P. Morgan's Vipul Shah spoke with BS&T editorial director Katherine Burger about big data applications in the treasury services business and steps the bank is taking to deliver those services. HSBC, Standard Chartered to Cut Bonus Payouts on U.S. Fines March 03, 2013HSBC and Standard Chartered
will report a reduction in their bonus pools,
reflecting separate settlements with U.S. authorities over
probes into money laundering and sanctions violations, Sky News
reported on Sunday. Risk In The Supply Chain A Growing Concern for Banks and Regulators March 01, 2013A new white paper by Information Services Group argues that banks are falling short of regulatory standards in managing supply chain risk and governance. Consumer Appetite for Comprehensive, Mobile PFM Grows March 01, 2013PFM products need to evolve from a 1980s mentality, says a new report from Javelin Strategy & Research.
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.
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