Perficient
DECEMBER 1, 2023
In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 billion of the total cost incurred from the failures of Silicon Valley Bank (SVB) and Signature Bank was designated for safeguarding uninsured depositors. This financial strain emphasizes the critical need for effective regulatory oversight.
Payments Dive
DECEMBER 1, 2023
Fidelity National Information Services is on the hunt for smaller acquisitions in one of its divisions, and it’s benefitting from other companies’ deals in another.
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CFPB Monitor
DECEMBER 1, 2023
The Federal Housing Administration (FHA) recently proposed enhancements to its 203(k) rehabilitation mortgage loan program. The proposed enhancements are set forth in a draft Mortgagee Letter. FHA will accept feedback on the proposed enhancements, via its Single Family Drafting Table webpage , through January 5, 2024. The 203(k) rehabilitation loan program provides for FHA insured mortgage loans that consumers may use to purchase a home or refinance an existing loan, and that include funds to pa
Payments Dive
DECEMBER 1, 2023
Synchrony, American Express and Capital One have all been floated by analysts as potential successors to Goldman Sachs for Apple’s credit card.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
TheGuardian
DECEMBER 1, 2023
Treasury select committee highlights concerns over data privacy and increased possibility of bank runs The idea of creating a digital pound should not even be considered until the UK government and Bank of England address concerns over data privacy and the increased risk of bank runs, a parliamentary committee has warned. MPs on the Treasury select committee said that while it was true that the rollout of a central bank digital currency could trigger fresh innovation and competition in the payme
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
DECEMBER 1, 2023
The U.S. Department of Veterans Affairs (VA) recently issued Circular 26-23-25 in which VA “is strongly encouraging a foreclosure moratorium on all VA-guaranteed loans through May 31, 2024.” Additionally, VA “urges servicers to cease initiating, continuing, and/or completing foreclosures on all VA-guaranteed loans during this moratorium.” The voluntary moratorium does not apply to vacant or abandoned properties.
BankInovation
DECEMBER 1, 2023
BMO Financial Group completed the conversion of Bank of the West customer accounts to BMO operating systems during its fiscal fourth quarter. “We closed and integrated strategic acquisitions, advanced our digital-first capabilities and increased our focus on delivering interconnected one-client experiences” in Q4, Chief Executive Darryl White said during today’s earnings call.
American Banker
DECEMBER 1, 2023
The Toronto-based company is now forecasting more than $800 million USD in annual cost savings as a result of its Bank of the West acquisition in February. That's up nearly 20% from an earlier projection.
The Paypers
DECEMBER 1, 2023
Mambu , a cloud banking platform, and Aldermore Bank , a UK-based retail bank and specialist lender, have partnered to modernise the latter's technology.
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Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment
American Banker
DECEMBER 1, 2023
Bank of New York Mellon is hiking its minimum wage 12.5%, offering stock options to a wider range of employees and expanding well-being programs amid a tight labor market and increasing demand for employee benefits.
The Paypers
DECEMBER 1, 2023
The Indian unit of Prosus NV’s PayU financial technology firm has stated it is seeking an initial public offering within the next 12 months.
American Banker
DECEMBER 1, 2023
The lobbyist for the Home Loan Bank System has asked the Federal Deposit Insurance Corp. to confirm that the private consortium can continue to be a "lender of last resort," in direct conflict with the recommendations of its regulator, the Federal Housing Finance Agency.
The Paypers
DECEMBER 1, 2023
The Australian government has announced a delay on its BNPL laws until 2024, due to resourcing pressures on the federal government’s legislative drafting teams.
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Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.
American Banker
DECEMBER 1, 2023
The Federal Home Loan Bank System is a crucial element of our financial infrastructure. All stakeholders should be included in discussions about reforming it.
The Paypers
DECEMBER 1, 2023
Allianz Direct has partnered with Netherlands-based ING in order to provide companies and firms in the region with its insurance products for business purposes.
American Banker
DECEMBER 1, 2023
Banking advocates claim FDIC's proposed corporate governance guidelines could undermine their legal duty to shareholders, despite the agency's claim that the proposal wouldn't break new ground.
The Paypers
DECEMBER 1, 2023
International banking group Standard Chartered has started offering exchange services for China’s CBDC, the digital yuan.
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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.
American Banker
DECEMBER 1, 2023
The Federal Reserve's vice chair for supervision said the central bank is weighing regulatory and supervisory changes to liquidity management standards. Current approaches, he said, might not be able to contend with the speed of modern runs.
The Paypers
DECEMBER 1, 2023
1Kosmos has announced the 1Kosmos BlockID platform now enables organisations to extend web-based identity proofing sessions to a user's mobile device.
American Banker
DECEMBER 1, 2023
Sloan is seeking to force Wells Fargo to honor multiple canceled stock awards and a bonus he says he was promised, according to a complaint filed Friday in California state court. He's also seeking unspecified damages for, among other things, emotional distress.
The Paypers
DECEMBER 1, 2023
US-based payments platform Square has announced the launch of Tap-to-Pay on iPhone for its sellers across the UK aiming to improve their operations.
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Download the latest edition of GoDocs' "The Lender's Guide to Automating the Complex Loan." This comprehensive guide offers financial institutions valuable insights into document automation for complex commercial loans. It unpacks the intricacies of complex loans and showcases how an automation platform like GoDocs — the leading commercial loan closing platform — delivers impressive benefits and ROI to any FI.
American Banker
DECEMBER 1, 2023
Wells Fargo is expanding into New York City's Hudson Yards, Mastercard launches a new generative AI-powered shopping tool, Banc of California closes PacWest acquisition and more in the weekly banking news roundup.
The Paypers
DECEMBER 1, 2023
UK-based Metro Bank has entered negotiations to offload a GBP 3 billion mortgage portfolio to Barclays as part of a restructuring effort.
American Banker
DECEMBER 1, 2023
Zelle owner Early Warning Services has completed a test of its digital wallet, which it sees as a tool to combat the rising tide of fraud schemes, including those driven by generative AI.
BankInovation
DECEMBER 1, 2023
TD Bank is investing in technology to drive efficiency, reduce costs, and restructure operations with AI efforts at the forefront. The Toronto-based bank’s total technology and equipment expenses were CA$620 million ($458 million), up 18% year over year, according to its fiscal fourth-quarter (ending Oct. 31) earnings report.
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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.
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