Risk: Page 38
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Barclays drops private prisons as more banks weigh reputational risks
The announcement follows in the footsteps of other large financial institutions turning away from the industry, as more banks make business decisions related to social issues.
By Anna Hrushka • Aug. 1, 2019 -
Capital One breach prompts class-action suits, state AG probes
At least two consumers and three attorneys general initiate action against the bank in the wake of this week's security concerns.
By Dan Ennis • July 31, 2019 -
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TrendlineTop 5 stories from Banking Dive
Since the approval of Capital One’s acquisition of Discover, banks have increasingly waded into new deals. Beyond that, they’ve doubled down on strategy, from organic growth to branch placement to app design.
By Banking Dive staff -
Capital One breach exposes 106M customers' data
The bank expects the incident to cost it between $100 million and $150 million this year.
By Dan Ennis • July 30, 2019 -
CFPB to end mortgage exception for Fannie, Freddie
A "patch" that lets Fannie Mae and Freddie Mac offer mortgages to borrowers with a debt-to-income ratio above 43% is expiring.
By Dan Ennis • July 26, 2019 -
Pot hearing reveals confidence gap in banking a budding industry
Bank and credit union executives showed support for the SAFE Act at Tuesday's Senate hearing, but federally regulated bodies may want more guidance than what FinCEN provides.
By Anna Hrushka • July 24, 2019 -
Senate panel poised to hear pot banking challenges
Tuesday's hearing comes as the bipartisan Secure and Fair Enforcement (SAFE) Banking Act gains momentum in Congress.
By Anna Hrushka • July 22, 2019 -
Rabobank takes on US agriculture's lending gap as large banks exit
While farm-loan portfolios of the nation's top 30 banks have declined 17.5% since 2015, Rabo AgriFinance's lending has grown 7% during the same period.
By Anna Hrushka • July 19, 2019 -
FASB's delay of credit-loss standard not enough, banks say
Banks and credit unions want FASB to do more than just delay new CECL accounting standards; they want the standards revisited.
By Robert Freedman • July 17, 2019 -
Nevada to pilot closed-loop payments system to serve marijuana-related businesses
The proposal would eliminate the large amounts of cash the state's pot businesses must deal with by creating an online system where digital currency transactions could be made.
By Anna Hrushka • July 17, 2019 -
KeyCorp faces $90M loss over client's bad wire transfers
The bank claims a payroll processing company made a $122 million overdraft and the company's CEO knew there wasn't enough money to cover the wire transfers.
By Dan Ennis • July 17, 2019 -
Quarles discusses tweaks to Volcker Rule, countercyclical capital buffer
The Federal Reserve plans to revamp the Volcker Rule "early in the fall," Vice Chair Randal Quarles says, adding the Fed is considering changes to the amount big banks hold during boom times.
By Dan Ennis • July 12, 2019 -
Top banks trimming farm-loan portfolios
The farm-loan portfolios of the nation's top 30 banks declined 17.5%, or $3.9 billion, to $18.3 billion, between their peak in December 2015 and March 2019, a Reuters report finds.
By Anna Hrushka • July 12, 2019 -
More banks, credit unions to cover pot-related businesses
The product's federal designation as a Schedule 1 drug has limited banking options for cannabis dispensaries and the industries' ancillary businesses.
By Anna Hrushka • July 11, 2019 -
Fed's Quarles pushes streamlined stress tests
The regulator's vice chair defends using stress capital buffer to simplify tests amid criticism that further easing won't adequately prepare banks for downturn.
By Dan Ennis • July 10, 2019 -
Small-bank exemption from Volcker Rule made final
Unlike large, systemically important banks, community banks can use deposits to make trades on their own accounts, known as proprietary trading.
By Robert Freedman • July 10, 2019 -
SunTrust joins wave of banks cutting ties with private prison industry
The bank said the decision was made "after extensive consideration of the views of our stakeholders on this deeply complex issue."
By Anna Hrushka • July 9, 2019 -
Deutsche Bank to meet July 7, staff cuts could total 20K
Bankers who work for the bank's U.S. equities business likely face the biggest cut.
By Robert Freedman • July 3, 2019 -
Student loan debt tops college graduates' list of regrets
The results from a PayScale survey come at a time when some employers are debating whether to offer student loan repayment benefits.
By Valerie Bolden-Barrett • July 1, 2019 -
Trump: US won't impose tariffs on $300B Chinese goods 'for the time being'
China and the U.S. will resume negotiations and avoid a further escalation of the trade war "for at least the time being," Trump said.
By Shefali Kapadia • June 29, 2019 -
Visa, Currencycloud partner to streamline cross-border payments
Cross-currency wallets and foreign exchange transaction notifications could make tourism spending easier during a trade-war lull.
By Lisa Rowan • June 6, 2019 -
PayPal enables Instant Transfer to banks for faster cash access
Consumers — and soon businesses — can get money to bank accounts or debit cards in minutes through the new service.
By Dan O'Shea • March 14, 2019
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