Former FDIC Chairman Sheila Bair (Bloomberg News)
DO THE MATH: "If big institutional investors had worked a little harder at the basic core principles" of economics, "we wouldn't have had the crisis we had," according to former FDIC Chairman Sheila Bair.
Former Federal Deposit Insurance Corp. Chairman Sheila Bair took private investors to task this week, arguing that their failure to understand and manage mortgage-market risk helped bring about the financial crisis.

Top Stories

Midsize banks remain concerned about their ability to meaningfully grow revenue at a time when yields on loans are narrowing and income from mortgage banking — a key revenue driver — continues to shrink.  more »
Wal-Mart's new "Walmart-2-Walmart" transfer service will enable consumers to send money to each other by using the retail chain's store network.  more »
B of A caught observers off guard by announcing $6 billion in mortgage litigation expenses, but the move is an attempt to convince analysts and investors that there is an end in sight to its crisis-era legal woes. It just might work.  read more »
The Office of the Comptroller of the Currency is likely to make changes to its proposal outlining the "heightened expectations" the largest banks must face after the industry raised concerns that certain provisions could backfire.  read more »
Disruptors
11 Noteworthy Uses of Biometrics in Payments
Biometric technology could eliminate the need to carry a payment card or even a smartphone by allowing users to authorize payments with a fingerprint, handprint, face or retina scan. But the technology has had a rocky past, and each new product comes with new quirks.  read more »
The cutting-edge bank — it already offers smart watch apps — is testing the technology on its employees' mobile devices and, if all goes well, it plans to roll it out to its customers by late summer.  read more »
Robert Wilmers, chairman and CEO of M&T Bank, told shareholders at its annual meeting that times are tough for banking and that the continued delay of its Hudson City deal, and associated high costs, are disappointing. But he insisted that the deal is still worth doing.  read more »
"Suburban flight" is taking on an entirely new meaning, as young and old adopt an urban lifestyle. What do these dramatic demographic shifts mean for banks?  read more »
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