Lloyds' payment protection insurance woes continue. The Financial Services Authority has fined the bank £4.3 million for delays in compensating customers who were "mis-sold" the product.
New York Times
Prepaid debit card provider NetSpend has been sold to global payment provider TSYS for $1.4 billion.
This Dealbook op-ed asserts that a report prepared by a JPMorgan Chase board review committee regarding the bank's $6 billion Whale loss teaches many valuable lessons about corporate governance. "This was clearly not a case where the board was asleep at the wheel," the author notes. "Rather, the JPMorgan analysis suggested that if the board members had received the information fully and promptly, they would have been able to better exercise their oversight responsibility."
Washington Post
The paper asks "Is the Banking System Healthy?" after noticing that bank stocks are still not trading at pre-crisis levels, despite the fact that figures show banks are making a comeback. The conclusion seems to be that banks are, in fact, doing better when it comes to capital and liquidity, but investors appear cautious of regulatory risk related to the implementation of Dodd-Frank and the "sea of litigation" in which the nation's largest banks remain engulfed.
Be the first to comment on this post using the section below.