OCC let banks close doors in areas hit by Tropical Storm Hilary
The Office of the Comptroller of the Currency granted federally chartered banks permission Monday to close branches in California, Nevada and Arizona affected by Tropical Storm Hilary.
Paulette Rowe, new CEO of Stax, on fighting payment-fee fatigue
The longtime payments executive plans to maintain the company’s alternative pricing as a way to address the growing criticisms of interchange.
All eyes on Fed Chief Powell in Jackson Hole
Key data points have shown price and wage pressures continue to dissipate, which should bolster the case for an end to rate increases, but strong labor-market activity may keep policymakers uneasy.
PayPal’s stablecoin plan poses a grave threat to financial stability
Congress must act to ban nonbanks from issuing stablecoins. The products are virtually equivalent to bank deposits, and should be regulated as such.
Does the commercial lending slump hint at a looming recession?
Tighter credit standards and lower demand for business loans could make it harder for the Fed to achieve the soft landing it’s seeking. Still, bankers are cautiously optimistic, noting that some businesses are using their savings to invest at a time when borrowing costs are high.
Wall Street banks rush to reclaim edge in market for buyout debt
Banks are committing financing for a slew of new deals, while investors clamor for syndicated loans as interest rates rise.
JPMorgan’s Javice suit put on hold for criminal case
“Their criminal case is likely to move faster than this civil suit, and vindication there may also neutralize some of the negative publicity about which they complain,” the judge in the case wrote.
The 15 biggest sponsorship deals between banks and U.S. sports venues
Banks pay millions of dollars each year to have their names become part of the lexicon of sports-obsessed Americans. Here’s a look at the largest deals, which span pro baseball, football, basketball, hockey and soccer.
Why are more women convicted of embezzlement than men?
Roughly 55% of people sentenced for embezzling funds from 2007 to 2017 were women, according to new research. Some experts suggest women are more likely to hold accounting and money-handling jobs, while others say the trend is a reflection of biases by employers and law enforcement.
Different approaches, same goal: Digital banks aim for full-service model
Cambridge Savings Bank’s Ivy Bank online-only unit has spent two years offering CDs and savings accounts. Meanwhile, Sumitomo Mitsui Financial Group’s new digital bank, Jenius, launched with personal loans. Both want to widen their product sets to benefit both sides of the balance sheet.