national-regional

Morning Scan: Fed Pushes for Real-Time Payments Monitoring; BNY Mellon Software Glitch

08/27/15

Wall Street Journal

The Federal Reserve wants big banks to monitor payments in real-time and they want it done now. JPMorgan Chase will meet with Fed officials this week to discuss the bank's response to the Fed's demands; CEO Jamie Dimon has said JPMorgan has assigned 400 people to the project, known in banker parlance as "intraday liquidity." Bank of New York Mellon is also at the top of the Fed's to-do list. ...

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Morning Scan: Fannie Mae Program to Expand Loan Qualifications; The Return of QE?

08/26/15

Wall Street Journal

The paper has a story on Fannie Mae's revamped HomeReady program, designed to give help to low-income families in qualifying for low downpayment mortgages. Details of the program were outlined in American Banker on Tuesday.

Wells Fargo expects to implement the program, said executive Brad Blackwell. Wells believes the program will help minority groups, although it may take some time to start working. ...

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Millennial Employees Are Key to Banks' Reputations

08/25/15

Whether it's in your branches, through your customer service lines, in your communities, or through mainstream or social media, it's your employees Â-- many of them millennials Â-- who can make or break your reputation with customers and prospects.

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Morning Scan: Stock Market Rout Shows Two Sides of Dodd-Frank; Vatican's AML Cop

08/25/15

Receiving Wide Coverage ...

Dodd-Frank's Good and Bad Sides: Monday's stock market meltdown offered up a case study in how Dodd-Frank has helped banks and how it's hurt banks. The market madness also cast serious doubt on the Fed's plans to raise interest rates next month.

On the positive side for Dodd-Frank, banks have been forced to build up their defenses because of the law and they should be much better equipped to weather the storm of...

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Morning Scan: Global Stock Sell-Off Puts Rate Hike in Doubt; Student-Lending Woes

08/24/15

Receiving Wide Coverage ...

Global Market Crisis: The massive stock market sell-off that began on Friday (the Dow Jones Industrial Average's worst Friday in more than five years) continued Monday morning, with global markets tanking on a wide range of concerns. Time will tell whether comments made by traders are overblown, but a money manager in Germany told Bloomberg, "Everyone seems to be selling off, and there's panic. There's no rational choice anymore, no rational reaction."...

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Morning Scan: FDIC Sues Three Banks; Marketplace Lenders' Achilles Heel

08/21/15

Wall Street Journal

JPMorgan Chase has hired a recently retired general as senior adviser. Gen. Raymond T. Odierno will offer the bank advice on cybersecurity as well as the physical risks involved in operating in a range of countries. The paper reports that Ordierno served in the Persian Gulf and Iraq wars and worked closely with Gen. David Petraeus on the 2007 military surge in Iraq. ...

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Women in Banking: Tellers' Wage War; PE's Bid for Female Talent

08/20/15

Poorly paid tellers get a boost from Amalgamated Bank; Nasdaq might be getting a female CEO; parent-friendly business trips as a new PE recruitment tool, and Fidelity's Kathleen Murphy on the benefits of mentoring. Plus, motorcycles, sushi chefs and Stephen Colbert.

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Morning Scan: Fed Waffles Over Rate Hike; Case Against Quarterly Reports

08/20/15

Receiving Wide Coverage ...

Fed Hesitates Over Rate Hike: Minutes from the latest Federal Reserve meeting suggest officials are torn over when to go ahead with a rate increase. Some are worried about the slow pace of inflation, which remains well below the central bank's 2% target. China's stock-market declines and the effects of a strong U.S. dollar are also of concern. On the other hand, a substantial number of Fed officials think a rate hike...

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Morning Scan: Promontory Settles; BB&T Snaps Up Another Bank

08/19/15

Receiving Wide Coverage ...

Let's Make a Deal: Promontory Financial Group won't be locking horns with New York's financial watchdog in court after all. Promontory on Tuesday agreed to a $15 million settlement with the New York Department of Financial Services and a six-month ban from taking on some new consulting engagements in New York state. The deal resolves allegations that Promontory whitewashed a report on Standard Chartered's sanctions violations and puts a concrete end to...

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Morning Scan: Dallas Fed's New Head; Greenspan vs. Dodd-Frank

08/18/15

A New Head in the Fed: The new president of the Dallas Federal Reserve is something of a mystery man. Robert Steven Kaplan's background as a former Goldman Sachs executive and management professor at Harvard Business School is well known; what's less clear are his views on monetary policy. This enigma is exciting a lot of interest among observers, since Kaplan will be highly influential as a member of the Fed's policy-setting committee when hisÂ...

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