BankThink

Don't Think of It as Losing a Co-COO, Think of It as Gaining a Sole COO

04/29/13

Receiving Wide Coverage ...

Another Shake-Up at JPMorgan: Frank Bisignano is leaving the bank to run First Data and Matt Zames will add responsibilities as sole chief operating officer, a title he has shared with Bisignano since July. Bisignano and JPMorgan CEO Jamie Dimon go back a long way, having worked together at Citi during the Weill era. The Journal casts the departure as a significant blow to the bank, starting with the headline ("Dimon Loses…")....

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Brown-Vitter TBTF Bill: Just Another Break-up Proposal

04/26/13

Unrealistic capital requirements and strict deadlines would force megabanks to sell assets, removing their value from the U.S. and global economies permanently.

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Fix Credit Ratings Process Ahead of GSE Reform

04/26/13

A system where ratings are assigned to a nationally recognized statistical ratings organization by an independent public utility offers the best shot at avoiding another secondary mortgage market meltdown.

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Bank Payday Loan Update; Another Tech Trading Glitch; U.K. Bailout Chief Resigns

04/26/13

Receiving Wide Coverage ...

Bank Payday Loan Update: Regulators officially unveiled on Thursday their expected guidance on the payday-style loans or checking account advances offered by a few financial institutions. The guidance, which calls for more underwriting and stringent cooling-off periods between loans, was issued along with "a scathing assessment of the loans" from the OCC, which "warned banks that the loans could pose 'reputational risk,'" reports Dealbook. But proponents of bank payday-style products have argued...

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Brown-Vitter Bill Creates More Problems Than It Solves

04/25/13

The Terminating Bailouts for Taxpayer Fairness Act adds more regulatory uncertainty to a financial sector that desperately needs clarity and direction.

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Fincen's New Regulations Are Choking Bitcoin Entrepreneurs

04/25/13

More than a decade ago, regulators nearly suffocated PayPal. Now it looks like they're trying to squelch another disruptive, innovative payments system.

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Reaction to Brown-Vitter TBTF Bill; Capital One Settles Over Loan Losses; A Possible Fed Successor

04/25/13

Receiving Wide Coverage ... Brown-Vitter TBTF Bill: Sens. Sherrod Brown and David Vitter formally unveiled their TBTF bill - or the pointedly named Terminating Bailouts for Taxpayer Fairness Act - Wednesday. Key components include a 15% capital requirement for banks with more than $500 billion in assets. Regional banks would be required to meet an 8% capital requirement while community banks would be exempt from the proposal. The bill, if passed, would also impose restrictions on...

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Time to Bring Bank Staff Back Onshore

04/24/13

Wage costs offshore are on the rise. Local talent is available in abundance and the growing popularity of digital channels has created ample cost-reduction opportunities at home.

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Fair Lending Studies Paint Incomplete Picture

04/24/13

Analyses only consider borrowers who were offered a loan package they were willing to accept. Applicants denied a loan and applicants who turned down loans are not considered at all.

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HSBC's Job 'Demise'; SIGTARP on TBTF; Barclays Earnings

04/24/13

Receiving Wide Coverage ... HSBC's Job 'Demise': HSBC got some extra attention for what could have been a routine - and somewhat expected - job cut announcement when someone got creative with the language in its press release. In announcing plans to cut more than 1,100 U.K. jobs due to new wealth adviser regulations, the bank noted "the integration of advisers means the roles of commercial financial advisers will be demised." And then, again, a bit...

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