CD competition back to pre-2008 as banks fight for funding
Banks locked in funding by offering more enticing rates on certificates of deposit last quarter, but rebuilding liquidity came at a cost. Competition isn’t dying down either, with a couple of credit unions floating 6% CD rates.
Zelle users report second outage in a week
More than 1,000 users reported problems making payments on Tuesday before complaint volumes tapered around midday, according to DownDetector, a site that collects user outage reports. The internal network disruption comes on the heels of another Zelle outage JPMorgan Chase took responsibility for seven days ago.
Goldman loses another partner in spate of recent wealth management departures
Lisa Opoku follows Julian Salisbury out the door of the Wall Street stalwart.
F.N.B. Corp. wins ATM rights for Washington, D.C.’s Metrorail system
The Pittsburgh-based regional is leaning heavily on ATMs as part of a de novo expansion strategy in the lucrative Washington metropolitan region.
Ameriprise drops bank conversion plans, citing regional crisis
After a quarter in which the institution helped the firm reap a record profit margin, the company followed rival Edward Jones in withdrawing its application.
Bodegas put on notice as Visa fights back on card surcharges
The world’s largest payment network is making changes to how it deals with merchants who want to charge customers extra when paying with a credit card.
One way or another, the Fed’s capital proposal isn’t going to fly
The Federal Reserve’s much-awaited Basel III proposal would raise capital significantly for the largest banks, a move that neither the international agreement nor the moment requires. Somehow that square is going to get circled.
Lawyers for Bob Lee’s accused killer question motive in murder
Lawyers representing the man accused of killing technology executive Bob Lee are attempting to poke holes in the prosecution’s case, questioning the motive and the thoroughness of the police investigation in what’s likely a long-term strategy to raise enough doubt to exonerate their client at trial.
Capital reform is coming, but not without a fight
The Federal Reserve is leading the push for broader, more standardized risk-capital rules, yet some of its board members, other regulators and industry groups are uncomfortable with the proposal.
20 community banks with the largest farm loan portfolios
The top five community banks have more than $1.2 billion in combined farm loan portfolios as of March 31, 2023.