Warsh welcomes yield spikes as ‘change for the better’
Federal Reserve Chair Kevin Warsh acknowledged that his limited guidance might have been a factor in rising market rates, but said whatever increased volatility can be attributed to the changes is more than offset by the benefit of a more nimble central bank.
SoFi’s revenue soars, but increased expenses hinder earnings
The lender reported a 40% increase in net revenue, but operating expenses and an uncertain interest rate environment held it back from increasing outlooks.
Banc of California takes big 2Q loss due to restructuring
The Los Angeles-based regional lender reported a quarterly net loss of $251.3 million, driven by a balance-sheet restructuring that included the sale of securities and certain commercial real estate loans.
How bank-based advisors can jump firms without getting sued
Industry lawyers and recruiters share the key steps bank-based advisors can take to avoid litigation or lower legal exposure when moving clients to a new firm.
Agentic commerce has a payment tech opening for banks
As consumers get more comfortable with the technology, they will want multiple checkout options beyond cards, creating a need for more digital wallets and account-to-account rails.
How Circle’s IBM patent deal shakes up stablecoins
The technology giant’s patents, which were built for banks and credit unions, will enhance the USDC issuer’s intellectual property as more banks enter the stablecoin market.
FIFA works with JPMorganChase on external investment vehicle
The proposed entity, which will include broadcasting and sponsorship assets, would initially be valued at about $20 billion.
AI makes it more important than ever to invest in your people
Rather than replacing bankers, artificial intelligence is likely to amplify their impact: strengths as well as weaknesses. This makes investing in employee development more important than ever.
Why one bank is determined to reincorporate in Texas
Dallas-based Texas Capital Bank will try for a second time to win shareholder support to switch its state of incorporation from Delaware to the Lone Star State, according to CEO Rob Holmes. If it succeeds, it will join a growing list of companies choosing the same path.
Should a bank ever be liable when a customer gets scammed?
A 76-year-old PNC customer lost almost $400,000 to a scam involving gold coins and a fake bill for Norton Antivirus protection. Can the bank be held accountable for failing to help him?