Bank resolution planning should promote preparedness, not paperwork
The voluminous resolution plans banks are required to submit to regulators are often set aside in the case of actual bank failures. There are far more efficient ways to ensure orderly bank resolutions.
How banks are mixing instant payments and embedded finance
Comerica and U.S. Bank are applying new tools that attempt to take the worry out of real-time transactions made on behalf of third parties.
Louisiana bank looks to bulk up near home with in-state deal
Baton Rouge-based Business First Bancshares would pad its margin as Louisiana’s largest state-chartered bank with an all-stock deal for Progressive Bancorp.
Exclusive: Texas fire department battles Venmo flood scams
The volunteer firefighting crew in Kerr County was the target of impersonation scams on the digital payments platform for donations to relief efforts.
NY Fed report: Return to zero rates a ‘significant’ risk
New research from the Federal Reserve Banks of New York and San Francisco says markets put the odds of zero interest rates lower today than in the recent past, but economic uncertainty raises the potential for drastic cuts in the “medium to long term.”
Planet Hollywood sues BankUnited over unforgiven PPP debt
The show business-themed restaurant, which benefited from a federal loan near the start of the pandemic, says it now owes millions thanks to the Miami-based bank’s “fraud, negligence, and misrepresentations.” A BankUnited spokesperson declined to comment.
The securities that banks are backing away from
This could be the second year in a row that the market for U.S. bank preferred shares has shrunk, something that hasn’t happened since the lenders were replacing obsolete capital after the global financial crisis.
How fraudsters exploit natural disasters
Deadly flash flooding in Texas serves as a reminder of the tactics scammers and fraudsters use against both victims and charitable onlookers.
OCC authorizes bank closures in Texas floods
Following deadly flash floods in Texas, the Office of the Comptroller of the Currency allowed national banks to close branches for safety.
Card, cash or mobile app? People judge your status by how you pay
Research from Cornell University suggests that people assign different levels of social status to others depending on how they choose to pay for goods and services.