BankThink

Morning Scan: Stripe Value Zooms; Mortgage Rates Surge

11/28/16

Receiving Wide Coverage ...

Racing Stripe: The latest round of private funding for Stripe, a start-up that offers software and services that process payments for businesses, has boosted the value of the company to just under $9.2 billion, nearly double what it was worth less than two years ago and making it the most valuable U.S. fintech company, according to the Wall Street Journal. "Stripe's investors think the company can capitalize on the fast growth of...

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All the Fury Over CFPB Ignores Its Modest Mission

11/23/16

Threats to the Consumer Financial Protection Bureau's future became more real with Donald Trump's victory, but all the outrage over the bureau's policies is overblown.

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Expect State Regulators to Get More Aggressive Under Trump

11/23/16

The GOP victories boosted expectations of federal regulatory action easing up, but such a scenario would likely create a void of power for certain state agencies to fill.

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Morning Scan: B of A 'Hustle' Case Ends; Goldman Euro Co-Chief Departs

11/23/16

Receiving Wide Coverage ... Sherwood leaves Goldman: Michael Sherwood, co-head of Goldman Sachs's European operations and often named as a potential successor to Goldman CEO Lloyd Blankfein, is leaving after a 30-year career at the bank. Since joining Goldman at age 20 in 1986, Sherwood played a key role in pushing the bank's growth in Europe and emerging markets. "The departure removes one of Goldman's longest serving European executives at a time when the bank isÂ...

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How to Protect Consumer Rights in Battle Over Data Access

11/22/16

With access to financial transaction data under threat by hurdles imposed by certain financial institutions, it should be up to consumers to decide how their data is used to improve their financial well-being.

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There's No Such Thing as a 'Good' Megabank

11/22/16

The megabanks that emerged relatively unscathed from the crisis are cited as proof of universal banking's benefits, but recent events have debunked that claim.

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Morning Scan: SIFIs Geting More SI; An OCC Clampdown on the Wayward?

11/22/16

Receiving Wide Coverage ...

More risky: Citigroup, Bank of America and Wells Fargo pose greater systemic risks to the global financial system than they did last year and had their capital requirements increased by regulators. The Financial Stability Board, which ranks the most systemically important financial institutions annually, also said Industrial and Commercial Bank of China presented more risk than last year. But HSBC, Barclays and Morgan Stanley—which sold all or part of their riskier businesses...

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A Surprising Obstacle in Small Biz Lending: Fax Machines

11/21/16

A bill looming in Congress would require the Internal Revenue Service to accept electronic transmission of lending-related forms, which could speed up the lending process by days.

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How Bashing Big Banks Could Help China

11/21/16

Politicians clamoring for the largest U.S. institutions to be broken up have failed to consider the prospect of China acquiring a bigger piece of the American banking system.

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Morning Scan: OCC Tightens Oversight of Wells; IRS Trawls for Digital Tax Evaders

11/21/16

Wall Street Journal Tighter grip: The OCC Friday unilaterally revoked parts of its recent regulatory consent order with Wells Fargo following the bank's phony accounts scandal. The agency ordered Wells to first seek its approval before changing its business plans, hiring or firing senior executives or revamping its board of directors. The bank was also banned from making golden parachute payments to departing executives without OCC approval. Â...

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