Less Fed repo activity is good for banks, but maybe not for financial stability
After remaining above $2 trillion for a year, the Federal Reserve’s overnight reverse repurchase facility has seen steadily less use in recent months. The development is welcomed by banks, but could be a sign that certain financial players are shifting funds to riskier activities.
A payments vet tries to ignite bankers’ interest in cannabis
Dama Financial’s new CEO Pat O’Boyle is trying to make his firm the “weed department” for reluctant financial institutions. He has heavy competition — and a reluctant target market.
Why is the average life span of a U.S. bank so short?
Banks in the U.S. tend to exist for about half the life span of the average human being. It doesn’t have to be that way.
Wanted: More credit unions
The National Credit Union Administration is addressing two of the main reasons why new institutions aren’t being formed — making it easier for the organizers to raise the required capital and easing the burden of the application process, says Todd Harper, the agency’s chairman.
Lamenting rehash of JPMorgan’s Lamont
Edward M. Lamont’s biography of his grandfather, Thomas W. Lamont, who advised presidents and extended credit to foreign nations as JPMorgan & Co.’s chief executive in the first half of the 20th century, will be rereleased in paperback this fall. Given that more concise, analytical histories of the banker have been published since, this long […]
Banking crisis drags down reputations across the industry
American Banker’s annual reputation survey shows regional banks were hit hardest by this spring’s bank failures. But there were a few bright spots, including digital-only firms and highly specialized firms.
CIBC expects its pullback in office lending will slow down U.S. growth
The Canadian bank is deemphasizing American office loans amid rising loss provisions. The decision could lead to decelerating growth in the U.S. market.
Regulators extend Hurricane Idalia support to affected institutions
Federal and state financial regulatory agencies issued a joint statement Friday offering support and guidance to financial institutions affected by Hurricane Idalia. The agencies encouraged banks to assist impacted communities and provided banks with regulatory relief measures.
4 ways banks, credit unions can improve the customer experience
Smaller financial institutions are prioritizing engagement over other conveniences, a strategy that resonates with younger generations, according to data from Arizent.
U.S. and foreign agencies dismantle Qakbot network
The botnet of 700,000 computers — many in the U.S. — had assisted in major ransomware attacks, with the financial sector as its primary target.