BankThink

HSBC Sells Insurer; EU Banking Problems; Return of the Rebel Regulator

12/05/12

Receiving Wide Coverage ...

HSBC Sells Insurer: Well, we knew this was coming. HSBC has sold its entire stake in Chinese insurer Ping An to the Charoen Pokphand Group, a conglomerate backed by Thai billionaire Dhanin Chearavanont. (Interesting to note, as most papers do, the group is primarily known for its agribusiness, not financial services, empire, "particularly the production of livestock feed, chicken farming and rice trading.") The deal netted HSBC $9.4 billion, which means, over...

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The Time Has Come to Embrace Change at Your Bank

12/04/12

When industries and business environments evolve, the best and brightest people and organizations in that industry will as well.

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Fed Doesn't Live by the Rules It Sets for Banks

12/04/12

Anywhere in the world, if you had $55 billion in capital, and then lost $55 billion, your capital would be zero. But under the Fed's own special accounting rule, if it lost $55 billion, its capital would still be $55 billion.

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SEC Suit Could Boot Chinese Companies from U.S. Stock Exchange, Consumers Trust Bankers over Politicians, Stockbrokers

12/04/12

Receiving Wide Coverage ...

SEC Sues Auditing Firms: The Securities and Exchange Commission is suing Chinese affiliates of the Big Four accounting firms Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers as well as BDO for failing to produce documents related to fraud investigations at nine China-based companies. Charges were filed against the auditors as part of a larger investigation into the Chinese companies themselves, following a string of "so-called reverse mergers" that led to billions of...

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Bankers Must Break the Ice with Regulators and Vice Versa

12/04/12

Banks often choose not to bring questions about products, terms and marketing to regulators, citing fear of retribution from front-line examiners. Creation of the CFPB separates consumer policymaking from examination activities, offering hope for open, clear communication.

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The Bank That Got Snookered and Lost 100 Cents on the Dollar

12/03/12

Here we find a bank president, who makes a loan commitment over a Martini - if I may be facetious - without even looking if there is an olive in the glass.

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End the TAG Program - It Puts Banks and the Economy at Risk

12/03/12

The money in TAG accounts is the hottest of the hot. If interest rates rise, these funds will disappear, hurting liquidity and capital for the banks that use the program.

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Circle the Wagon to Ward Off ATM Patent Infringement Claims

12/03/12

A bankers' association could set up a panel charged with the responsibility of reviewing every claim made against a member and determining whether it had merit.

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UBS Nears Libor Settlement, B of A Forgets About Fees (for Now) While its CEO Forgets About Everything

12/03/12

Receiving Wide Coverage ...

UBS Nears Libor Deal: UBS is expected to reach a settlement with U.K. and U.S. authorities over its involvement in the London interbank offered rate-rigging scandal by the end of this year, several news outlets are reporting this morning. Even more notable is the fact that this settlement is expected to supersede the $450 million Barclays agreed to pay over similar charges. (A unnamed FT source "close to the talks" estimates the...

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Want Respect for Your Prepaid Card? Ditch the Celebrity Endorser

11/30/12

Why does an industry so often criticized for charging high fees to low-income consumers think it can win over critics by adding members of the 1% to the payroll?

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