BankThink

'Revolutionary' Smart Contracts Automate Trust

09/09/16

There is a compelling case for business parties to use smart contract technology in the future to complete binding legal contracts.

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CECL Will Inflate Credit Booms and Worsen Downturns

09/09/16

The Financial Accounting Standards Board's accounting rules for credit risk have good intentions, but a likely amplification of the ups and downs of the credit market was probably not one of them.

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Morning Scan: B of A Deal on Bonuses; What's the Goal?

09/09/16

Receiving Wide Coverage ...

Incentive to cheat?: Wells Fargo was hit with the largest penalty in the history of the Consumer Financial Protection Bureau to settle charges that thousands of employees created unauthorized bank and credit card accounts for customers in order to collect bonuses for themselves. The company fired 5,300 employees as a result. The bank agreed to pay a $185 million regulatory enforcement action plus another $5 million in customer remediation. Wells' own analysis...

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The Mortgage Bank of the Future Can't Survive on Mortgages Alone

09/08/16

Within five years, a dramatic transformation of the mortgage market will force firms to expand product menus beyond mortgages to develop stronger relationships with their customers.

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Women in Banking: Is Big Data a Weapon of Mass Discrimination?

09/08/16

A likely sale of CIT Group's aircraft unit (and a whole lot of other stuff) is keeping Ellen Alemany busy, a former Wall Street banker talks about big data as a financial weapon of mass discrimination targeting women and the poor, and First Busey shows how investing in employees pays off. Also, TIAA's Kathie Andrade, Deloitte's Cathy Engelbert and (to spice things up) Victoria Beckham.

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Banks Learn the Price of 'Satisfactory' CRA Grades

09/08/16

Without incentives to shoot higher, banks usually settle for "Satisfactory" on their Community Reinvestment Act exams, but many find that not getting a better grade has consequences.

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Morning Scan: Wells Fargo Hit Over Sales Tactics; SoFi Seeks $500M

09/08/16

Receiving Wide Coverage ...

Two heads...: JPMorgan Chase said Mark Leung, head of its Asia Pacific equities business since 2014, and Jason Sippel, global head of prime services, will together run the bank's global equities division. The two replace Tim Throsby, who left to run Barclays' corporate and international division. Wall Street Journal, Financial Times Wall Street Journal ...

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Online Retailers Are Proof of Marketplace Lending's Sustainability

09/07/16

Despite their slowdown in growth, marketplace lenders are still in good position to gain from the digitization of the financial services industry.

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You've Heard of Fintech, Get Ready for 'Regtech'

09/07/16

Fintech is transforming consumer financial services, but automation and data innovation can also help banks meet their growing regulatory demands.

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Morning Scan: Behind the Wells-Amazon Blowup; Chip Terminal Woes

09/07/16

Receiving Wide Coverage ...

Leaving: Tim O'Hara, the head of Credit Suisse's global markets division for just the past 10 months after a 30-year career at the bank, is leaving. He will be replaced by Brian Chin, co-head of credit. The unit has suffered heavy losses over the past year. Wall Street Journal, Financial Times Wall Street Journal ...

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