BankThink

Fortress hires former Wells Fargo CEO Sloan as senior adviser

03/03/20

Tim Sloan, the former chief executive officer of Wells Fargo, joined Fortress Investment Group as a senior adviser.

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Move over, tech. Banks must focus on their teams, values.

03/03/20

Banks are so caught up in the newest technology trends that they lose sight of the need to build a talented workforce and a purpose-driven organization.

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MVB Financial, Intercoastal to form mortgage joint venture

03/03/20

MVB in West Virginia will gain a 47% stake in the partnership in exchange for contributing its mortgage unit's assets to the new company.

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Fed makes emergency rate cut amid heightened coronavirus fears

03/03/20

The Federal Reserve has voted unanimously to cut the interest rate 50 basis points to 1.10% effective March 4, in the first emergency rate cut since 2008.

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Axos dealing with Durbin-related snags in H&R Block pact

03/03/20

The San Diego bank is struggling to renegotiate a partnership with the tax preparation firm to address caps on interchange fees.

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Visa joins Mastercard in cutting revenue outlook on virus impact

03/03/20

The company said that cardholders’ spending overseas has slowed sharply, especially for travel-related purchases, and that it won’t give a forecast for future quarters until next month.

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Coronavirus is latest test for Europe’s banks; UBS CEO heading to Swiss Re

03/03/20

The disease could lead to less lending business and more loan defaults; Sergio Ermotti will join the insurance company as chairman in 2021.

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How ‘old school personal banking’ helped turn Optus Bank around

03/02/20

From 2010 to 2018 the South Carolina bank was on the FDIC's problem bank list, but in the last two years it has been profitable. Dominik Mjartan, the bank's president and CEO, explains how technology upgrades and relationship building helped it get back on track.

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Challenges to banks’ use of arbitration a sign of gender fights to come

03/02/20

Wells Fargo and JPMorgan Chase recently avoided shareholder votes tied to their use of arbitration clauses in sexual harassment cases. But socially conscious investors say the issue is likely to flare up again elsewhere and that banks would do well to address a wide range of gender equity matters head on.

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How bank regulators could mitigate coronavirus fallout

03/02/20

Policymakers could recommend banks establish backup facilities and the Federal Reserve could stand ready with emergency loans to limit economic shock waves.

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