Vance doubles down on Trump call for bigger role in interest rates
Over the weekend Republican vice presidential nominee Sen. JD Vance, R-Ohio, said setting interest rates should be a “political decision” with input from elected officials.
Inside JPMorgan Chase’s biometric payment journey
The bank partnered with fintech PopID for biometric payments at fast-food retailer Whataburger, but widespread adoption from consumers and merchants could be an uphill battle.
Fintech secures jersey partnership with Minnesota Timberwolves
Minneapolis-based buy now/pay later fintech Sezzle has partnered with the Minnesota Timberwolves of the National Basketball Association to have its brand represented on uniforms until 2027.
Sentencing of Kansas failed-bank CEO delayed
A judge postponed by 11 days to Aug. 19 the scheduled sentencing date for Shan Hanes, the ex-CEO of Heartland Tri-State Bank who admitted to embezzling $47 million from the lender, leading to its downfall.
Two key lessons from the CrowdStrike outage
Automatic updates and data encryption have their advantages. As many CrowdStrike customers learned on July 19, they also have disadvantages.
RBC’s ex-CFO says she had a shot at CEO job before bank fired her
Nadine Ahn was terminated on April 5 along with fellow exec Ken Mason after the bank received an anonymous tip that the two were romantically involved. Both deny it and are suing the bank for millions.
Why banks’ youth pitch is getting younger
Westpac, Capital One and JPMorgan Chase are offering savings accounts and debit cards to children below 10, using financial literacy to get an edge in building consumer relationships.
KeyCorp says $2.8B deal with Scotiabank will help it be ‘front-footed’
Cleveland-based KeyCorp wasn’t seeking capital but saw the benefits of Scotiabank’s minority stake. The deal would enable the Canadian lender to step into the U.S. consumer market.
A brain drain at bank boards raises questions about risk management
Congress publicly excoriated the supervisors and CEOs of last year’s trifecta of megabank failures. But, what about the directors who were supposedly overseeing those CEOs? The entire chain of bank oversight needs to be rethought from congressional hearing rooms to banking board rooms.
Ohio’s Fortuna Bank, a women-owned de novo, prepares to open
The proposed startup in Columbus, Ohio, would be the third U.S. bank specifically formed to be women-owned, according to its organizers. Supporters say it’s another win toward obtaining gender-equitable capital access.