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Women in Banking: All About That 'Welcome' Feeling

11/12/15

PwC's Dennis Nally on how men can empower women in financial services; Fidelity's Kathy Murphy on drawing female customers to financial planning; Well Fargo's Maureen O'Donnell on welcoming female advisers aboard; and are the regulatory agencies welcoming to women?

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Morning Scan: Apple Eyes P2P Payments; Bank Recruiting Lags

11/12/15

Receiving Wide Coverage ...

Apple Eyes P-2-P Payments: In a bid to claim a bigger stake in the payments industry, Apple has begun talks with banks to launch a peer-to-peer payment service. The service would target the market already enjoyed by PayPal's Venmo and Square's Square Cash, the Wall Street Journal reports. Venmo currently accounts for 19% of mobile person-to-person payments, facilitating $2.1 billion in mobile payments during the third quarter alone. As part of this...

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Morning Scan: Minneapolis Fed Picks Ex-TARP Head as Chief, JPM Hackers Charged

11/11/15

Receiving Wide Coverage ...

Hackers Charged: Charges were announced against three hackers accused of stealing data from more than 100 million people in one of the biggest cybercrimes of all time. The three men reportedly were responsible for the big breach last year at J.P. Morgan Chase and other crimes involving computer networks in South Africa and Brazil, money laundering through Cyprus and illegal card payments processed in Azerbaijan, the Wall Street Journal reports. Two of...

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Morning Scan: BofA Takes On Data Aggregators; European Banks Struggle to Heal

11/10/15

Wall Street Journal Bank of America has joined a slew of financial firms to cut off its information from websites and mobile applications that aggregate consumer financial data. Other major banks that have taken such steps include J.P. Morgan Chase and Wells Fargo. Consumers have begun to use these aggregator sites, such as Mint.com, to monitor their multiple financial accounts. But banks are wary to cede any ground to non-bank startups like these, and as reasoningÂ...

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Morning Scan: TLAC, Part II; Yearly Bonuses Going Bust

11/09/15

Receiving Wide Coverage...

TLAC, Part II: Not quite two weeks after the Federal Reserve Board released its contentious total loss absorbing capacity (TLAC) proposal, the Financial Stability Board updated its own plan to force "systemically important" banks to issue more debt in order to prevent future global financial crises.

The FSB's version calls for these banks to build by 2019 a cushion of at least 16% of their risk-weighted assets in equity and debt, similar to what...

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Morning Scan: Banks May Dump Data Centers for the Cloud; Foreign Banks Gobble Up Deposits

11/06/15

Breaking News This Morning ...

Employment Report: Unexpectedly Strong Hiring and Unemployment Report Boosts Chance of Rate Hike Wall Street Journal

The new tech giants are the companies that control the Internet economy through their dominance in virtual computing: online search, messaging, advertising, applications, computing and storage on demand. The kings of the cloud (as it were): Amazon, Apple, Facebook, Google and Microsoft. ...

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Women in Banking: Mooney's Power Move; Virgin Money's Gender Equity Push

11/05/15

KeyCorpÂ's biggest deal since Beth Mooney became CEO would make it the 13th largest U.S. commercial bank if approved, and a proposal from Virgin Money's Jayne-Anne Gadhia could prompt the U.K. to peg bank exec bonuses to gender diversity. Also: Barclays' Barbara Byrne, KKR's Suzanne Donohoe and JPM's Eileen Serra.

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Empowering Women in Financial Services Should Be a Goal for Men, Too

11/05/15

Having an inclusive workplace is key to attracting and retaining an important employee segment: female millennials.

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Morning Scan: Yellen Says Banks Must Improve Risk Management; Banks Crack Down on PFM Site Access

11/05/15

Receiving Wide Coverage ...

Yellen Speaks: Risk management still leaves something to be desired at the largest banks, Fed Chair Janet Yellen said during a congressional hearing on Wednesday. "While we have seen some evidence of improved risk management, internal controls, and governance … compliance breakdowns in recent years have undermined confidence," Yellen testified before the House Financial Services Committee. ...

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Morning Scan: Feds Looking into Treasury Auction Rigging, Commodities

11/04/15

Wall Street Journal

Prosecutors and regulators want to know if traders rigged auctions on government debt.

The Justice Department and the Commodity Futures Trading Commission have sent requests to banks that serve as primary dealers, seeking information about orders, trading and pricing in Treasury Department auctions.

"Authorities are looking into whether bank traders worked together to bolster their own profits by depressing prices at U.S. government debt auctions," the Journal said, citing unnamed sources. ...

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