Bluebell calls for Worldline board shake-up after shares drop 60%
Activist investor Bluebell Capital Partners called on French payments company Worldline to shake up its board and replace its chairman to “restore the trust of the market” after the shares plunged almost 60% in a day.
Forget redlining. Branchless banks are now ‘weblining’ our communities
Internet-based banks are siphoning deposits away from urban centers in the U.S. and, unlike brick-and-mortar banks, face no requirement that they loan money back into those communities.
Check fraud on pace for another record year: Fincen data
An increase in paper mail theft corresponds with a rise in physically altered checks that redirect funds to fraudsters.
Banks face pressure to stop financing use of coal in steel production
Five large U.S. banks are among 50 global financial institutions that climate activists are targeting as they push to end financing of metallurgical coal projects.
JPMorgan faces hurdles in bid to form private credit syndicate
JPMorgan Chase is running into some pushback over fees and control as it aims to pull together a group of lenders to help fund private credit deals it originates, according to people with direct knowledge of the discussions.
Treasury overhauls Community Development Financial Institution certification process
The Treasury Department’s Community Development Financial Institutions Fund has introduced significant updates to the CDFI certification application, aiming to simplify the process and establish clearer standards for responsible lending and community development.
After makeover, Cincinnati mutual bank receives MDI designation
The 130-year-old Warsaw Federal Savings & Loan achieved a minority status after retooling its board this summer. Its CEO, who is also new to the job, has no plans to slow the pace of change at the depositor-owned bank.
Canada keeps bank capital requirements steady as economy weakens
The decision means the six largest Canadian banks will enter 2024 with the requirement to hold Common Equity Tier 1 capital of at least 11.5% of risk-weighted assets.
Branches continue to shutter, First Carolina onboards new fintech partner
Banks branches continue to shutter through October; First Carolina onboards fintech partner BM Technologies; ICBA announces its 2024 accelerator companies; and more in the weekly banking news roundup.
Republicans press for more information about ex-OCC fintech czar
Top GOP members of the House Financial Services Committee have asked the Office of the Comptroller of the Currency for details of the hire of Prashant Bhardwaj, who left the agency, and what rulemakings he was involved in.