Lessons from Canada’s struggles with faster payments
The instant-payments rail, which was set to go live this month, has postponed its launch indefinitely. Experts say it’s having trouble keeping the interest of the country’s major banks.
JPMorgan board member James Crown killed in racetrack accident in Colorado
Crown was the longest-serving board member of JPMorgan Chase, having been a director for the bank or its predecessor firms going back to 1991.
Goldman Sachs is cutting about 125 managing directors globally
Goldman Sachs Group has started cutting managing directors across the globe as the firm reduces its headcount amid a deals slump, according to people familiar with the matter.
Confident financial decisions are make or break for small businesses
Small-business owners need more help from financial services companies when it comes to making major decisions about their companies’ future.
Goldman taps Solomon ally Montag for board amid disquiet in ranks
Goldman Sachs Group plans to add Tom Montag to its board, enlisting a prominent alum at a time when discontent in the firm’s ranks has spilled into public view.
Americans paid 14% more for financial services last year: Report
Rising interest rates on loans, greater borrowing and higher fees on deposit accounts all contributed to the increase. “Altogether, this paints a picture of debt that could really start to strain the checkbooks of American families,” said Meghan Greene, a researcher at the nonprofit organization that authored the report.
Bowman: Fed reforms should focus on supervision and liquidity, not capital
The Federal Reserve governor said regulatory response to this spring’s bank failures should be targeted on key issues and emphasize transparency.
GOP bill that would roll back mortgage pricing change passes House
The legislation has support among Republicans, who hold a slim majority in the chamber.
Former FDIC examiner moves closer to dream of opening his own bank
After working for the Federal Deposit Insurance Corp. for a decade, Marc Minish was determined that he could open his own institution. Now he is the primary organizer of the proposed Nova Bank in Huntsville, Alabama, which has received conditional regulatory approval.
Bank stocks eye worst week since May as regulatory ‘waves’ loom
The KBW Bank Index and KBW Regional Banking Index have each fallen more than 4% this week and are set for their worst weeks since early May, when JPMorgan Chase agreed to acquire First Republic Bank following its failure.