Wells Fargo gun policies probed by Texas, risking muni work
Leslie Brock, chief of the AG’s public finance division, sent a July 26 letter to lawyers who work on bond deals in Texas saying that officials are studying whether Wells Fargo has a practice or policy that “discriminates against a firearm entity or firearm trade association.”
At Mastercard, a daughter of immigrants helps startups find their path
In her day-to-day job directing activities at the card network’s Start Path accelerator, Sabrina Tharani helps nurture companies that are developing new payments products and services.
Don’t underestimate the value of the simple business card
Business cards provide a tactile experience that digital forms of communication do not replicate. They offer a tangible reminder of a discussion, which can be far more memorable.
Press Release: FDIC Makes Public June Enforcement Actions; No Administrative Hearing Scheduled for August 2023
PRESS RELEASE | JULY 28, 2023 FDIC MAKES PUBLIC JUNE ENFORCEMENT ACTIONS; NO ADMINISTRATIVE HEARING SCHEDULED FOR AUGUST 2023 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in June 2023. There are no administrative hearings scheduled for August 2023. The FDIC […]
PE’s backing of PacWest acquisition relied on accounting maneuver
Centerbridge Partners and Warburg Pincus said they would invest $400 million in Banc of California in conjunction with its purchase of PacWest. The private equity injection was made possible through reverse accounting, which used Banc of California’s balance sheet to value the transaction.
Deutsche Bank, UBS see biggest stress capital buffer increases
The Federal Reserve released its list of large bank capital requirements based on the results from this year’s stress test. While overall capital obligations will decline, some firms will have to hold more capital.
Zelle outage at JPMorgan Chase is red flag for banks
The bank hasn’t explained why person-to-person payments, bill processing and account-transfer services went down for parts of two days this week. But observers suspect glitches in its legacy systems could occur at other financial institutions and increasingly affect real-time payment networks.
Bread Financial’s credit sales fall 13% in cooling economy
Despite a sharp drop in spending and rising delinquencies during the second quarter, the issuer’s stock rose on news of lower debt, rising deposits and a new private-label partnership with Dell Technologies.
New York Community focused on luring back Signature Bank deposits
The Hicksville, New York, company says its deposit base is stable and poised for growth four months after its acquisition of the failed Signature Bank, some of whose depositors fled to larger banks. Private bankers — including new hires from another failed bank, First Republic — are trying to win back lost deposits.
Fed’s Jefferson voices concerns over Basel III capital proposal
Federal Reserve Board Gov. Phillip Jefferson joined three other board members in supporting a notice of proposed rulemaking, but expressed concerns about the economic impact of the changes.