The Consumer Financial Data Rights group, representing aggregators and fintechs, says banks still aren’t forking over enough customer data. The group is meeting with bank regulators and trying to get consumers to petition regulators on its behalf.
People’s United recently won the deposit business of the states of Massachusetts and Vermont, punctuating a multiyear plan to expand in government banking. But it’s a hard niche to succeed in, and, as other banks can attest, it can invite controversy.
The breadth and pace of change across banking and the rest of the business world is rapidly escalating, posing challenges for financial institutions and the economy alike, according to Robert Kaplan, the president of the Federal Reserve Bank of Dallas.
Three years after guiding the Baltimore bank through bankruptcy, the group that recapitalized it found a similar institution eager to form a new partnership.
While banks know they must develop and launch new tools that are useful, convenient and intuitive, figuring out which tools meet that objective and employing them often seems out of reach.
As expected, the bank elevates its vice chairman, former Federal Reserve Governor Elizabeth Duke, to the top spot; credit card delinquency rates rise along with balances.
New York-based Cain Brothers advises both for-profit and not-for-profit health care organizations on mergers and acquisitions and financing strategies.
Two small banks recently announced plans to ditch their holding companies, but more could be on the way, says KBW CEO Tom Michaud. A big reason why is that regulators haven't gone far enough in "harmonizing their approach" to oversight, he said.
With Federal Reserve Board Chair Janet Yellen's term due to expire in February, speculation is rampant in D.C. about who might replace her — or whether she will be replaced at all.
While banks know they must develop and launch new tools that are useful, convenient and intuitive, figuring out which tools meet that objective and employing them often seems out of reach.
Society has accepted central banks’ monopoly over creating and controlling the flow of money, but history and current technological innovations point to alternative approaches.
Collaboration will help make up for cost concerns from adopting the technology and ensure that the core vendors get the message of community banks’ interest.
Director of Financial Services
Utah Governor’s Office of Economic Development
As the interest of fintech firms in the banking system brings a focus on the industrial bank charter once again to Washington, it is necessary to dispel a few misconceptions.
Pace of expansion moderates as real estate remains buoyant but stresses mount in agriculture sector and concerns begin to emerge over the quality of credit applicants.
Post-election exuberance about the prospects for rollback of Dodd-Frank regulations has been tempered by the political realities facing the President and Congress.
As a result of regulatory scrutiny, financial institutions, are quickly ramping up their risk management practices to better monitor and manage third party risk.
In an age of high-speed technology and increasing customer demands for online applications and fast responses, the mortgage loan process remains highly paper-based.
