Former Fiserv chief Bisignano named ‘CEO’ of IRS
Frank Bisignano, the former chairman and CEO of Fiserv, will become the “CEO” of the IRS, a newly created role, in addition to his post running the Social Security Administration.
Citi’s Banamex gets competing bid from Mexican mining tycoon
Citigroup’s Banamex received an offer that would put full control of the Mexican franchise in the hands of Grupo Mexico.
Why Checkout.com is seeking a Georgia state bank charter
The London-based firm is seeking a license that would provide a direct connection between merchants and card networks, reducing reliance on third parties and brandishing the London company’s image as a player in America.
Fifth Third’s Comerica deal: ‘The biggest thing we’ve ever done’
Fifth Third announced it plans to buy the Dallas bank in a $10.9 billion transaction.
Sanctions on Russia were just a warm-up for a future crisis with China
As the likelihood of conflict in the Taiwan Strait grows, banks ought to be beefing up their sanctions compliance teams to deal with a huge increase in activity. Unfortunately, they are doing exactly the opposite.
Banks move quickly to cut deposit costs after Fed rate cut
Many banks lowered the interest rates they pay on certificates of deposits and high-yield savings accounts in September, capitalizing on the Fed’s 25-basis-point cut.
TD creates $25 million fund to boost Philly neighborhoods
The fund is designed to generate a financial return, as well as Community Reinvestment Act credit, for TD. Its inaugural investment is in a mixed-use project that will include 49 affordable housing units.
Key cybersecurity law expires, leaving banks exposed
A government shutdown and a single senator’s hold prevented the renewal this week of a bipartisan law that helped banks and other firms defend against hackers.
Inside Merrick Bank’s relaunch of Ally’s former credit card portfolio
The CardWorks subsidiary has officially taken over Ally Financial’s Ollo credit card portfolio, ending a five-year dance between the two companies that first had Ally buying CardWorks for $2.7 billion.
Jefferson signals cautionary stance on tariffs, labor and rate path
Federal Reserve Vice Chair Philip Jefferson said Friday that the economic outlook is uncertain and that he was adopting a cautious approach to gauging whether slowing growth and a softening labor market outweigh inflation pressures from tariffs.