HSBC blocks staff from texting on their work phones
Earlier this year, HSBC agreed to pay tens of millions of dollars in settlements to U.S. regulators over its failure to monitor employees’ communications on unauthorized messaging apps, including WhatsApp.
Banks are adjusting to the new normal — if it can stick around
Higher interest rates, deposit flight, and looming credit losses were roiling the banking industry a few months ago, but so far banks seem to be weathering the storm. That doesn’t mean things can’t get worse.
Some cross-border delays are features, not bugs: Fed’s Bowman
Federal Reserve Gov. Michelle Bowman said some limitations and frictions in the payments system are by design and cannot be swept away by tech innovations.
Private credit shift from banks is here to stay, BlackRock says
The movement of cash to money market funds from bank accounts will diminish lenders’ ability to finance small and midsize firms, BlackRock Investment Institute said in a new paper. BlackRock and other money managers have spent much of this year readying to fill that void.
Profits drop at Goldman Sachs for eighth consecutive quarter
Net income was $2.06 billion in the third quarter, down 33% from a year earlier, amid sluggish banking activity, real estate write-downs and questions about whether dealmaking will rebound.
GoDaddy teams with Early Warning to shape its payments strategy
The web-hosting company is updating its point-of-sale hardware and partnering with the company behind the Paze digital wallet as part of an effort to serve its clients’ needs beyond e-commerce.
Bankers’ risk-assessment expertise should make them leaders on climate
Far more than most people, financial services professionals ought to understand the compounding crisis of climate change.
Bank of America beats estimates on trading, net interest income gains
The second-largest U.S. bank says net interest income, a key source of revenue for the bank, rose 4.5% to $14.4 billion in the third quarter.
Why nondepositories have a stake in bank capital rules
Not only could warehouse lines of credit be impacted by the U.S. version of international Basel rules, and financing secured by mortgage servicing rights may be, too.
Supreme Court to hear Bank of America escrow interest challenge
The bank argues federal law preempts a New York state statute requiring at least 2% interest payments on borrowers’ accounts.