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House approves disaster relief bill without contentious construction ban

Thu, 10/12/2017 - 22:36
While the House disaster relief bill would provide $16 billion in debt relief for the National Flood Insurance Program, it does not include a Trump administration proposal to ban new construction in flood prone areas.
Categories: FINANCIAL NEWS

Credit card losses are mounting. Worrisome trend or worth tolerating?

Thu, 10/12/2017 - 21:40
Rising losses and chargeoffs at JPMorgan Chase and Citigroup could be an indication of future trouble at other banks. Still, executives are bullish on cards and argue that the loss rates are logical consequences of rate hikes and attempts to expand card business.
Categories: FINANCIAL NEWS

Choose the company you work for carefully: Huntington's Mary Navarro

Thu, 10/12/2017 - 21:39
What's more important than which job you take? Which company you work for. That is one of the lessons Huntington’s Mary Navarro learned in her 42 years in banking.
Categories: FINANCIAL NEWS

Digital banking priority: Make it personal

Thu, 10/12/2017 - 21:09
Banks such as Citigroup, Regions and TD have decided they need to offer mobile customers truly customized experiences. They are experimenting with different ways of doing so that come across as helpful without being intrusive.
Categories: FINANCIAL NEWS

Former bank analyst takes key role at Customers in Pa.

Thu, 10/12/2017 - 21:00
Bob Ramsey, who had worked for FBR Capital Markets for more than a decade, will handle investor relations and strategic planning at Customers.
Categories: FINANCIAL NEWS

FHA still weighing premium cuts: Carson

Thu, 10/12/2017 - 20:58
HUD Secretary Ben Carson said he's held off making any decision on premium cuts until the confirmation of key appointments. "It has been a real ordeal getting people in place," he said.
Categories: FINANCIAL NEWS

Depositors put ‘digital capability’ on par with yields: Inside JPM's 3Q

Thu, 10/12/2017 - 19:12
Consumers are looking for high-tech services, not just higher deposit rates, in deciding where to park their cash, a top JPMorgan executive said in discussing the company's explosive deposit growth in the third quarter — and whether it will continue.
Categories: FINANCIAL NEWS

How bank preparedness held up against Hurricane Harvey & Co.

Thu, 10/12/2017 - 18:52
Recent hurricanes and wildfires still raging in California are emphasizing once again the importance of emergency preparedness plans for bankers.
Categories: FINANCIAL NEWS

Natural disasters making recovery experts out of bankers

Thu, 10/12/2017 - 18:30
Recent hurricanes and wildfires still raging in California are emphasizing once again the importance of emergency preparedness plans for bankers.
Categories: FINANCIAL NEWS

Commerce reports higher earnings on expense control, increased lending

Thu, 10/12/2017 - 17:28
The Missouri company had strong gains in construction lending and trust fee income, but its business lending operation had flat results.
Categories: FINANCIAL NEWS

Amex targets Square, PayPal in small-biz lending

Thu, 10/12/2017 - 16:58
In the digital age, a lot has changed about how businesses operate — and a lot of new data is being generated in the process. Amex is tapping into this data for instant credit decisions.
Categories: FINANCIAL NEWS

HSBC names insider Flint for CEO

Thu, 10/12/2017 - 16:36
HSBC named John Flint as its next chief executive officer after new Chairman Mark Tucker opted not to break with tradition and tapped a long-serving insider to run Europe's largest bank.
Categories: FINANCIAL NEWS

JPMorgan, like Wall Street rivals, is 'open minded' on bitcoin

Thu, 10/12/2017 - 16:24
JPMorgan Chase joined Wall Street rivals in expressing a willingness to get involved with cryptocurrencies like bitcoin, which surged to a record on Thursday.
Categories: FINANCIAL NEWS

When JPM's Sandie O'Connor talks, policymakers listen

Thu, 10/12/2017 - 16:04
From chairing a panel charged with replacing Libor to advising the president and Congress on regulatory reform, JPMorgan Chase's regulatory affairs chief has emerged as a leading voice on fine-tuning crisis-era rules.
Categories: FINANCIAL NEWS

Faith without evidence? Growing fears over Fed's inflation policies

Thu, 10/12/2017 - 15:42
The release of the September meeting of the Federal Open Market Committee minutes reinforce concerns that the central bank doesn't fully grasp the interplay between monetary policy, inflation, and unemployment.
Categories: FINANCIAL NEWS

The role banks can play in ending global poverty

Thu, 10/12/2017 - 15:32
Banks could help narrow the financing gap for U.N. development goals to be met, but changes in Basel and loan guarantee standards are necessary.
Categories: FINANCIAL NEWS

HSBC names new CEO; BlackRock assets near $6 trillion

Thu, 10/12/2017 - 15:13
John Flint, HSBC's current retail chief, will take the helm next February; asset manager BlackRock has added $1 trillion of assets in the past year, or more than $1.5 billion every business day.
Categories: FINANCIAL NEWS

Citigroup's 2% reduction in costs provides cornerstone of 3Q

Thu, 10/12/2017 - 14:48
Overall net income rose 8% to $4.13 billion as cost control helped overcome shortcomings in global consumer banking profits and bond trading revenue.
Categories: FINANCIAL NEWS

JPMorgan leans on core banking in third quarter

Thu, 10/12/2017 - 14:00
An increase in corporate loans, the highest lending margin in 4 1/2 years and record profit in asset management helped the lender top analysts’ estimates and offset trading and other challenges.
Categories: FINANCIAL NEWS

Dozens of bank branches forced to close in fire-ravaged northern California

Thu, 10/12/2017 - 03:03
As conditions worsened on Wednesday, bankers said that their employees’ safety is their top priority.
Categories: FINANCIAL NEWS

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