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Morning Scan: USAA Joins Forces with Visa; Bank Directors Need More Tech Savvy

10/26/15

Receiving Wide Coverage ... Rate Rise on the Horizon? Continued global economic woes look likely to continue to put a damper on the possibility of the Federal Reserve electing to raise rates this week. Recently, China has reported soft GDP growth, and Japan eyed a major decline in export growth, the Wall Street Journal reports. Instability at the global economic level helped fuel the FedÂ's previous decision not to raise rates in September. Of course, itÂ'sÂ...

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Morning Scan: Barclays, Credit Suisse in Dark Pool Settlement Talks; Report Pleads for Rate Hike

10/23/15

Breaking News This Morning ...

Earnings: Citizens Financial Group, First Niagara Financial Group, Prosperity Bancshares Wall Street Journal

Barclays and Credit Suisse Group are in talks to pay a combined $150 million to settle a lawsuit that alleges wrongdoing in the operation of dark pools, the private stock-trading platforms that have come under regulatory scrutiny. The Securities and Exchange Commission and the New York State Attorney General are in discussions with the banks about the settlement, unnamed sources...

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Women in Banking: Alemany Returns; Citi, Deutsche Add C-Level Women

10/22/15

Great news: Women snagged a handful of C-level titles at big companies this week, including Ellen Alemany, Kim Hammonds and Heather Cox, and Square stands out in Silicon Valley with a leadership team that's 60% women. Bad news: the gender pay gap is growing and there are only two women among Harvard's picks for the top 100 CEOs globally. Also in the news: Blackrock's Cheryl Mills, B of A's Cathy Bessant and ICICI's Chanda Kochhar.

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Morning Scan: Swiss Banks' Tax-Evasion Secrets; Taxi Lenders' Woes

10/22/15

Breaking News This Morning ...

Earnings: Huntington Bancshares, Iberiabank, Community Bank System Receiving Wide Coverage ...

Thain's Exit: Everyone takes a look at John Thain after he announced his pending retirement as head honcho of CIT Group. Thain's narrative is re-told, as he departed Merrill Lynch with the Wall Street bank in a mess, returned to CIT to implement a turnaround and exited after the crowning achievement of the OneWest Bank acquisition. All the reports mention his successor,...

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Morning Scan: A JPM Divestiture; Pivotal Moments at SEC, Fed

10/21/15

Breaking News This Morning ...

Earnings: New York Community Bancorp, Fulton Financial, BankUnited Receiving Wide Coverage ...

Breaking It Off: It has been a nice, decade-long relationship between JPMorgan Chase and Highbridge Capital Management, but the private-equity business is basically saying it's time to move on. And even JPMorgan officials agree it is time to see other people, so to speak. Reports in two major dailies said Jamie Dimon & Co. is close to finalizing a deal that...

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Morning Scan: Deutsche Bank's $6B Goof; Morgan Stanley's Transformational Struggle

10/20/15

Breaking News This Morning ...

Earnings: Fifth Third, Regions, Synovus, Signature, Bank of New York Mellon Receiving Wide Coverage ...

Morgan Stanley's Miss: The investment bank's third-quarter results fell far short of analyst expectations, owing to steep declines in its trading and private equity businesses. The firm warned trading won't recover soon, given macroeconomic headwinds from China, the Fed, and the commodities markets. The Washington Post notes "the effect of the trading decline on the bank's bottom line...

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Morning Scan: State Street, JPM Charging to Hold Deposits; Diebold in Merger Talks

10/19/15

Wall Street Journal

First it was Swiss banks charging clients to hold their deposits. Now it's U.S. banks' turn. State Street for the first time has begun charging fees to hold some large dollar deposits, unnamed sources said. JPMorgan Chase has also started charging fees, helping it cut unwanted deposits by more than $150 billion this year. Bank of New York Mellon and Northern Trust, the other two large custodial banks haven't yet begun charging to...

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Women in Banking: Bessant and Cox on Fintech; a Night to Remember

10/16/15

Bank of America's Cathy Bessant contends banks are fintech companies; Citi's Heather Cox says no way are startups ever going to be the 'Uber of banking;' and is Elizabeth Warren a tyrant? Also, don't miss our coverage of the celebration for the Most Powerful Women in Banking and Finance. Maybe someone you know is in the photos.

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Morning Scan: Netflix's EMV Complaint; 'Waiting for Godot,' i.e., the Fed

10/16/15

Wall Street Journal

Netflix blamed the shift to EMV credit and debit cards for its 10.2% year-over-year decline in U.S. subscribers. Card firms are having none of that talk. One unnamed card industry executive said Netflix is the only subscription-based business complaining about such a problem, so the problem must be Netflix. ...

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Morning Scan: B of A, Wells Fargo Offer Optimism; Square's Starbucks Experience

10/15/15

Receiving Wide Coverage ...

B of A, Wells Offer Hope: After JPMorgan Chase's disappointing third-quarter earnings report, Bank of America and Wells Fargo followed up with some better news. The Charlotte, N.C., and San Francisco banks issued their earnings on Wednesday and each offered some nuggets of promise.

B of A's trading revenue didn't suffer as much as JPMorgan's did. Expenses decreased, thanks in no small part to a decline in legal expenses. The number of charged-off...

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