Franklin Templeton CEO on the ‘unintended consequences’ from interest rate hikes
At the Most Powerful Women in Banking conference, asset management leader Jenny Johnson discussed opportunities and risks for portfolio managers in 2023.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | OCTOBER 4, 2023 FDIC Issues List of Banks Examined for CRA Compliance WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in July 2023. […]
Higher bank capital requirements would harm low-income borrowers most
The Biden administration’s misguided attempt to protect the banking system from itself will reduce credit available to the Americans who need it most.
Stripe’s AI journey as both vendor and client
The fintech, a partner of OpenAI, is also a provider to several developers of emerging artificial intelligence.
SEC pushes ahead with case against Coinbase crypto exchange
The Securities and Exchange Commission is pushing ahead with its litigation against Coinbase, raising the stakes further in the case against the biggest U.S. crypto exchange.
Banks’ insurance units are fetching top dollar, but selling brings risk
M&T Bank, Truist Financial and Eastern Bankshares are among the banks that have sold all or part of their insurance subsidiaries over the last year. Though the price is right, analysts warn that when interest rates decline, sellers will be without a key source of fee income.
JPMorgan exec says ‘Wall Street 2.0’ will be better for women
Mary Callahan Erdoes, CEO of asset and wealth management at the megabank, says recent advancements in remote connectivity will lead to a “much better Wall Street than many of us grew up in.” She urges women not to let newfound flexibility go away.
Ally Financial starts job cuts with less than 5% of staff affected
The Detroit-based firm said the job cuts will occur across divisions and aren’t isolated to a single line of business.
Yellen says higher-for-longer scenario is ‘By no means a given’
Treasury Secretary Janet Yellen acknowledged that a surprisingly robust economy has led investors to assume that the Federal Reserve would maintain high interest rates over a longer period, but said longer-term drags on the economy could upend that calculus.
Investor recruits veteran exec to end feud that’s cost Pa. bank millions
Activist investor Abbott Cooper, who has been locked in a battle with management at AmeriServ Financial for more than a year, plans to nominate former Amalgamated Financial head Keith Mestrich in a bid to end the impasse.