Bankruptcy Blogs

People’s United has no intention of stopping at $50 billion

07/16/19

The Connecticut company, which will top that asset milestone when it buys United Financial, says it could buy more banks in coming months.

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PacWest’s funding challenge

07/16/19

Total and core deposits fell in the second quarter from three months earlier at the Los Angeles bank as consumers sought higher yields, but CEO Matt Wagner said assuring proper funding for loan growth is a priority.

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BofA considering subscription model for Merrill Edge

07/16/19

The offering would mirror a similar move by Charles Schwab to offering clients a new pricing plan for its robo service.

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Despite cuts, Wells Fargo is still spending too much

07/16/19

The bank has been slashing expenses, but executives acknowledged they remain high. Between having to hire thousands of compliance employees and waiting on the next CEO to be named, investments in new technology or other long-term growth are limited.

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First Horizon may ask Alexa to help take on BB&T, SunTrust

07/16/19

The Memphis, Tenn., regional will explore the use of voice assistants as part of its digital banking push.

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Varo Money raises $100M, files deposit insurance application

07/16/19

The new funding comes as the challenger bank inches closer to gaining regulatory approval for a national bank charter.

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JPMorgan won’t let revenue risks curtail expansion plan

07/16/19

The likelihood of Fed rate cuts is causing banks to plan for less net interest income, but it would be a mistake for JPMorgan to back off its move into new markets and tech investments, Jamie Dimon says.

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Facebook crypto exec meets congressional firing squad

07/16/19

Resistance to Libra on the Senate Banking Committee was bipartisan, and other takeaways from Tuesday’s hearing.

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FDIC eases requirements on deposit tracking

07/16/19

The agency's board voted 3-1 on Tuesday to give large banks additional time to comply with new rules that force them to keep better track of insured deposits.

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Lawmakers unveil competing flood insurance bill

07/16/19

Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee.

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