After PayPal launched a program last week offering free transaction processing for merchants who switch to its point of sale card reader, Square hit back yesterday by announcing it will be offering a P2P payments service via email.
JPMorgan Chase to Cut Up to 4,000 Jobs in 2013February 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.
Oracle Launches New Compliance and Risk Management SolutionsFebruary 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.
U.S. Judge Dismisses ATM Fee Collusion LawsuitsFebruary 13, 2013A federal judge has dismissed antitrust
lawsuits accusing Visa Inc, MasterCard Inc,
JPMorgan Chase & Co, Bank of America Corp and
Wells Fargo & Co of conspiring to fix automated teller
JPMorgan Chase Faces U.S. Order to Improve ComplianceJanuary 11, 2013A U.S. regulatory probe of JP
Morgan Chase & Co is expected to result in an order that
the bank correct lapses in how it polices suspect money flows,
in an action expected as soon as Friday, people familiar with
the situation said.
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.
2013 Bank Regulatory ForecastDecember 07, 2012Banks will continue to grapple with a host of regulatory demands, especially as Basel III and Dodd-Frank provisions come into effect.
Canada Libor Investigators Escalate Dispute with RBSNovember 14, 2012The Canadian agency investigating
whether banks manipulated a key global interest rates accused
Royal Bank of Scotland Group on Wednesday of failing to
cooperate with its probe and of making misleading statements
Banks Recovering From Sandy AftermathOctober 31, 2012Major U.S. banks said on Wednesday they
had reopened more than half of the branches that were closed as
Hurricane Sandy battered the U.S. East Coast earlier this week.
Sheila Bair's 4 Types of Dysfunctional RegulatorsOctober 26, 2012Sheila Bair, former FDIC chair and current industry critic, thinks that regulators are partly to blame not only for the financial crisis and the banking industry's continuing lousy reputation, but she also has plenty of criticism for bankers and politician