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Women in Banking: Farewell, Serra; Hello Again, Alemany and Whitney

12/10/15

JPMorgan Chase's Eileen Serra is giving up her CEO title (for a very interesting reason); CIT Group's Ellen Alemany is getting to work sooner than expected with a big housecleaning; and Meredith Whitney resurfaces with an insurance company. Plus, inclusion confusion, the "Person of the Year" (it's a woman for the first time in 29 years), and Saudi Arabia.

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Morning Scan: Walmart Debuts Mobile Pay; Banks Slow on Blockchain Technology

12/10/15

Receiving Wide Coverage ... Walmart Enters Mobile Payments: The retail giant will begin the rollout of its own mobile payments services, placing it squarely in competition with the likes of Apple and Samsung. The system, called Walmart Pay, will be integrated into Walmart's mobile app. To make a payment, consumers will open the app and use a camera feature to scan a QR code at the register, which will connect payment cards on file to completeÂ...

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Morning Scan: Possible Bitcoin Founder; Loan to San Bernardino Shooter

12/09/15

Receiving Wide Coverage ...

Bitcoin's Satoshi Nakamoto Revealed?: Two independent reports came out Tuesday identifying Australian businessman Craig Steven Wright and deceased American computer forensics expert Dave Kleiman as the probable creators of the digital currency bitcoin. No sooner were their identities revealed as the likely creators than Australian federal police raided Wright's suburban Sydney home in an alleged tax investigation. Wired was the first to report Wright was probably the pseudonymous Satoshi Nakamoto. The website...

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Morning Scan: Ex-Im Bank Reopens; Ex-Secret Service Agent Sentenced in Bitcoin Theft

12/08/15

New York Times

The Export-Import Bank reopened on Monday, but things aren't going to be like the good old days any time soon. The Ex-Im Bank lacks a quorum, as three of its five seats are vacant. Even if President Obama nominated members, the Ex-Im Bank's Tea Party-backed Republican enemies in Congress almost certainly wouldn't confirm them. That's going to leave the Ex-Im Bank handling paltry export deals, not the giant loans for aircraft and satellites...

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Morning Scan: Big Banks' Effort to Seize Mortgage Business from GSEs

12/07/15

New York Times

Big banks have been working behind the scenes, and making considerable progress, in taking over the home loan market from Fannie Mae and Freddie Mac, Gretchen Morgenson writes in the Times. The effort has been led by a group of professionals who have walked the revolving door between the private sector and public sector; including Michael Berman, a consultant to real estate lenders and David Stevens, head of the Mortgage Bankers Association. ...

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Morning Scan: Jobs Data Set Up Rate Hike; ECB's QE Hits Markets

12/04/15

Breaking News This Morning ...

Employment Report: Just moments after the November payroll numbers came out Friday, observers noted the Federal Reserve should now have enough ammunition to raise interest rates. The U.S. added 211,000 jobs in November, and October's already stellar payroll figure was revised upward to 298,000 from 271,000, the Wall Street Journal reports. September also received an upward revision to 145,000 from 137,000. The unemployment rate stayed at 5% in November, which the...

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Women in Banking: A New Pink Bank and Blythe Masters Says No to Barclays

12/03/15

A bank goes pink to attract women, Blythe Masters sticks with her startup despite a big Barclays offer, Sallie Krawcheck reflects on life as an entrepreneur, Ana Botin talks strategy and Margaret Keane offers leadership advice. Plus some Barbie news.

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Morning Scan: ECB Cuts Deposit Rate; Yellen Hints of Hike

12/03/15

Breaking News This Morning ...

ECB QE Expansion: While the Fed considers a rate hike, central bankers across the pond appear did the opposite. The European Central Bank Thursday increased stimulus in the face of low inflation. The ECB slashed the deposit rate to -0.30% from -0.20%. Inflation in Europe remains well off where central bankers want it to be, at 0.1% versus the desired 2%. The effects of this QE expansion though are unclear, according...

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Morning Scan: Small Banks Win with Highway Bill; JPM Enters Online Lending

12/02/15

Receiving Wide Coverage ...

Highway Bill Win for Small Banks: Bipartisan discussions in Congress have generated a $300 billion bill to address highway funding and shortfalls in the Federal Highway Trust Fund. Talks on how to pay for the bill had focused in large part on the Fed — in particular cuts to its dividends to banks and its rainy-day fund, moves that were opposed by the banking industry. Small banks have reason to celebrate however,...

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Morning Scan: U.K. Banks Pass Stress Tests; Banks Up Benefit

12/01/15

Receiving Wide Coverage ...

U.K. Stress Test Results Are In: U.K. banks passed the Bank of England's stress tests — albeit without flying colors — reducing the pressure on the institutions to hold more capital. Overall, the U.K. banking industry appears prepared to meet all the requirements due by 2019, the Wall Street Journal reports, including more stringent requirements regarding risks in trading and mortgage books. Despite the celebratory notes of the Bank of England's announcement,...

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