banking current events 2020
- Banking
Trial for ex-JPMorgan bankers could signal new tactic against white-collar crime
A rare courtroom trial for a team of former JPMorgan Chase bankers starting this week is being closely watched for…
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Rethinking bank capital at a ‘pivotal moment’ for the Fed
Michael Barr, the Biden administration’s pick to serve as the Federal Reserve’s top regulator, said during his Senate confirmation hearing…
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Mounting pay pressure at banks as Truist, JPMorgan hike minimum wages
A hot job market is prompting some large banks to raise their minimum wages, continuing a trend that will likely…
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Credit union trade groups Cornerstone and Heartland consider merger
Two trade associations that represent credit unions in five states are taking steps to merge. The boards of the Cornerstone…
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Longtime CEO of Idaho Central Credit Union to retire
Kent Oram, president and CEO of Idaho Central Credit Union in Chubbuck, Idaho, is set to retire at the end…
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CEO of Members First Credit Union in New Hampshire to retire
Bruce Leighton, president and chief executive of Members First Credit Union in Manchester, New Hampshire, is set to retire. The…
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Truist opens its technology and innovation center
Truist Financial has unveiled a space within its Charlotte headquarters dedicated to innovation. On Tuesday, the $544 billion-asset bank announced…
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Automation turns around Washington credit union’s loan program
America’s Credit Union’s decision to automate its direct lending system has paid off dramatically — the lender went from $1.97 million…
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Associated Banc-Corp recruits two Huntington executives for top posts
Associated Banc-Corp CEO Andy Harmening is hiring two former colleagues from Huntington Bancshares to fill key posts at the Green…
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NY Green Bank’s new fund will finance clean energy in underserved areas
NY Green Bank, an investment fund for sustainable infrastructure projects, wants to ensure that disadvantaged communities across New York state…
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Comerica to close 5% of its branches by fall
Comerica Inc. in Dallas, which has largely avoided the industry-wide trend of branch consolidation during the pandemic, will close 22…
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Canada’s VersaBank to enter U.S. market with purchase of tiny Minnesota bank
The Canadian online loan provider VersaBank has agreed to pay Stearns Financial Services $13.5 million for a single-branch bank in Holdingford,…
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Hoosier Hills, Dearborn County credit unions in Indiana merging
Hoosier Hills Credit Union in Bedford, Indiana, and Dearborn County Federal Credit Union in Lawrenceburg have agreed to merge. Approval…
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More than 60% of credit unions at risk for climate-related losses: Report
Following natural disasters, credit unions traditionally step in to help members regain their footing through low-interest loans, lines of credit…
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Farmers turn to banks, fintechs to address wilting profits
Smaller farms are looking to diversify sales strategies through direct contact with local residents, which in the past meant lots…
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Waters asks top U.S. banks for details on profits from American slavery
WASHINGTON — House Financial Services Chair Maxine Waters sent a series of letters Tuesday to some of the nation’s largest…
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Green Dot pays $13 million to settle lawsuit over scuttled acquisition
The prepaid card company Green Dot has paid $13 million to Republic Bank & Trust to settle a lawsuit over…
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Bank CEOs who got the heftiest raises last year
While most bank CEOs got pay hikes last year, the raises were bigger for some than others. KeyCorp Chief Executive…
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Nacha learns bigger is better for same-day ACH payments
Raising the ceiling for faster payments was like bursting a dam for Yasser Abou-Nasr, who sees a chance for Dwolla,…
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Despite challenges, CEO Fraser sticks to Citi’s turnaround plan
Citigroup CEO Jane Fraser is sticking to the megabank’s turnaround plan in the face of ongoing challenges, including potential economic…
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Huntington unifies its payments businesses
Shortly after acquiring cloud technology to enhance its appeal to corporate users and their customers, Huntington Bancshares reorganized its digital…
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Klarna is now betting on the very payment cards it aims to disrupt
The bumpy economy is creating headwinds for the largest buy now/pay later fintechs, and the fallout in recent weeks has…
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Fintechs focus on supporting people caught in the justice system
Individuals who spend time in prison can experience devastating financial consequences at every turn. They may struggle with the cost…
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Huntington finds big a big appetite for small-dollar business loans
In January, after more than two years of selling Italian Ice out of a food cart at Columbus, Ohio-area malls,…
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Goldman pushes to keep executive names hidden in gender suit
Goldman Sachs Group and its former female employees who sued the company in one of Wall Street’s biggest gender discrimination…
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Dimon fires back after shareholders vote down his pay package
Jamie Dimon had harsh words Wednesday for institutional investors who vote on corporate matters based on the recommendations of proxy…
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New bank, credit union diversity leaders share their top ideas
Emma Hayes joined the $53 billion-asset State Employees’ Credit Union in Raleigh, North Carolina, as its first ever chief culture…
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The U.S. lags in financial regulation addressing climate change
Central banks and regulatory authorities are progressively integrating climate risks into their activities. The Network for Greening the Financial System…
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EMVCo to simplify specifications for contactless payments
There are more than 20 different ways that technology companies enable contactless payments under current EMVCo standards, something the organization…
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Banks bid for viral fame with videos and influencers on Instagram
Julie Waddle did not expect her video about Venmo to go viral. The digital marketing manager at FNB Community Bank…
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Apple drops Discover, adds Visa, as virtual debit card partner
As Apple prepares to build out contactless payment acceptance via iPhones, the company has switched to Visa from Discover as…
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Inspirational Quotes: Anne Chow, Andrew Carnegie And Others
Read inspirational quotes about acknowledging your faults, finding inspiring goals and being patient for good things to happen. X Anne Chow…
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FHFA issues final rule for Fannie Mae, Freddie Mac capital plan
The Federal Housing Finance Agency has finalized amendments to its enterprise regulatory capital framework, largely confirming proposed modifications that encourage…
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Investing Action Plan: Navigating A Skittish Stock Market
The Nasdaq Composite, S&P 500 and the Dow Industrials ended lower for a second straight week as concerns over rising…
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Warren Buffett Stocks: GOOGL Stock Among 22 Stocks On This Screen
Who joins Alphabet (GOOGL), Meta Platforms (FB) (formerly known as Facebook), and Alibaba (BABA) on this list of Warren Buffett…
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Small businesses still face $28 billion of unforgiven PPP loans
Almost 350,000 loans made to small businesses in 2020 during the COVID-19 pandemic haven’t been forgiven, according to a Bloomberg…
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Five E-Commerce Plays Near Buy Points
Amazon stock and Shopify (SHOP) lead this weekend’s watch list of five e-commerce stock in or close to buy range…
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How To Beat The Stock Market: Try These Seven Mental Trading Tips
Investors appear to have a tough time outperforming the stock market indexes in 2021. X A July 22 poll held…
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Portfolio Management Rules Created An Investing Champion
This week on the Investing with IBD podcast, George Tkaczuk joins the show. Tkaczuk is a portfolio manager at RCM…
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Why The Market Rally Is So Strong; Tesla Defies Bad News
Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally had…
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Quanta Services Stock Scores 92 RS Rating; Enters Renewable Energy Space
On Friday, Quanta Services (PWR) stock earned a positive adjustment to its Relative Strength (RS) Rating, from 88 to 92.…
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Dow Jones Sinks While Nasdaq Continues Higher; Two FANG Stocks Trade Near Buy Zones
The Dow Jones Industrial Average moved lower in today’s stock market, but closed off its lows of the day. Meanwhile,…
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Is DocuSign Stock Ready For Another Swing Trading Chance?
DocuSign (DOCU) sticks out as one of the leading stocks of the market with a best possible IBD Composite Rating…
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Compounding Profits And Reducing Drawdowns In FAS Stock
The 10-year treasury yield may be off its 2020 lows but it’s still low by historic standards. But when it…
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Dow Jones Rallies As Bitcoin Tops $50,000; Tesla Races Higher, Nvidia Is Breaking Out Today
The Dow Jones Industrial Average rallied 200 points Monday, as Bitcoin climbed above $50,000 for the first time in three…
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Trinet Hits 80-Plus Relative Strength Rating Benchmark
The Relative Strength (RS) Rating for Trinet (TNET) climbed into a new percentile Friday, with a rise from 77 to…
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Tilray Eyes Foothold In U.S. Marijuana Market With Debt Deal
Tilray (TLRY) is eyeing a foothold into the U.S. market with the purchase of MedMen‘s (MMNFF) debt as the push…
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How New York Community plans to make most of Flagstar acquisition
New York Community Bancorp has already crossed off several items on its merger to-do list: It has formed an integration…
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Amazon job posting hints at plan to accept cryptocurrency
Amazon.com’s payments team is exploring letting customers use cryptocurrencies to pay for their orders, a development that’s roiling digital currency…
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MUFG hires exec to lead diversity, inclusion efforts
Mitsubishi UFJ Financial Group has hired an executive from Wells Fargo for a new role leading inclusion and diversity efforts…
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