A ‘K-shaped’ US economy augurs ill for the country’s banks
A significant majority of Americans are now living lives of permanent financial stress, and debt delinquency is on the rise. For bankers, that’s a recipe for problems with profitability, and perhaps with safety and soundness.
Ingenico bets on stablecoin payments
The payments firm is hoping that planting a flag in merchant stablecoin payments now will be accretive as stablecoins gain greater adoption.
MUSA designated primary dealer by New York Fed
MUFG Securities Americas is designated a primary dealer by the New York Fed; Founders Bank appoints Chris Lipscomb its senior vice president and chief lending officer; the Independent Community Bankers of America names Charles Yi senior executive vice president of government relations; and more in this week’s banking news roundup.
Gould floats bare-bones resolution planning revamp
Comptroller of the Currency Jonathan Gould said Friday afternoon that regulators should scale back what he characterized as costly and ineffective bank-prepared resolution plans and shifting resolution responsibility onto bank regulators.
Regions has what it needs to compete in the Southeast: CEO
The Huntsville, Alabama-based regional bank is well-positioned to defend its Southeast footprint, according to CEO John Turner. It’s hiring more bankers in growth markets, it has strong brand recognition and it has a long history in its core markets, he said.
Improved credit quality at M&T helps push earnings higher
During the fourth quarter, the Buffalo, New York-based bank reported its lowest ratio of nonperforming loans to total loans since 2007.
PNC’s Demchak vows to bring the fight from coast to coast
“We’re coming into your market,” PNC Chief Executive Bill Demchack said Friday. “If you’re not coming into our market to come fight us, we’re coming to your market to come fight you, and we’re going to get some percentage of your market.”
Voluntary ‘Trump card’ idea lowers risk of legislation
White House National Economic Council Director Kevin Hassett said Friday that the administration expects banks to voluntarily issue “Trump cards” with 10% rate caps, a move that could quell Congress’ moves to impose a cap through legislation — but that’s no guarantee.
Senate Dems probe banks on role in Trump’s Venezuelan oil plans
Warren, Wyden, Whitehouse, Welch and Schatz say administration’s memo contradicts public statements, want more answers on whether the administration is working with top U.S. banks to funnel money out of the South American nation.
Fed’s Bowman ‘continues to see downside risk’ to labor market
Federal Reserve Vice Chair for Supervision Michelle Bowman warned that labor market conditions could weaken further and said the central bank should avoid signaling a pause in monetary policy.