Tag: "banks"

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OCC, FDIC and Federal Reserve Regulation and Policy Changes (May 2014)

OCC, FDIC and Federal Reserve Regulation and Policy Changes (May 2014)

Financial services update June 2 2014 banking agency developments OCC to Rotate Examiners On May 28th, the Office of the Comptroller of the Currency (“OCC”) announced it will establish a formal rotation program for all examiners and formalize an enterprise risk management framework that will involve developing a risk appetite statement, creating a decision-tree process, […]

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Los Angeles sues Big Banks over Real Estate Tax losses

Los Angeles sues Big Banks over Real Estate Tax losses

City attorney takes aim at big banks Source: latimes.com Author: Michael Hiltzik Much of what Los Angeles City Atty. Mike Feuer alleges in his lawsuits against four big banks for their mortgage and foreclosure practices isn’t debatable. In his latest lawsuit filed May 30 against JP Morgan Chase, Feuer alleges that mortgage lenders swarmed into […]

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Ohio asks for piece of Chase DOJ settlement to fight blight

Ohio asks for piece of Chase DOJ settlement to fight blight

Ohio should get a piece of JP Morgan Chase mortgage-fraud settlement: editorial Cleveland was shot down on technicalities in its effort to hold predatory lenders accountable for the toxic legacy of foreclosed, blighted and tax-delinquent properties in 2008 lawsuit. But justice may be coming home at last. A diverse coalition of community activists, housing advocates, […]

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No Community or Small Bank Representative on the Federal Reserve Board of Governors

No Community or Small Bank Representative on the Federal Reserve Board of Governors

Smaller banks may get lost in Fed shuffle The Federal Reserve Board of Governors that’s taking shape under Janet Yellen has a conspicuous and unusual absence: anyone with a community-banking background. The lack of a representative is raising anxiety among executives of the almost 7,000 banks in the United States with assets under $10 billion, […]

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Continued Scrutiny of Financial Services Companies in 2014

Continued Scrutiny of Financial Services Companies in 2014

Fraud And Corruption Trends To Watch In 2014 Fraud may be a moving target, but banks of all sizes are going to be under closer scrutiny than ever in the coming year for potentially fraudulent actions. That’s the warning from advisory firm EY, which has identified several key themes on the fraud and corruption front […]

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Tighter Bank Credit "Muddle Through" impact on Retail Sales

Tighter Bank Credit “Muddle Through” impact on Retail Sales

Fewer banks willing to lend curbs U.S. sales The share of banks more willing to lend to consumers has been declining, a trend that threatens retail-sales growth. The net percentage of financial institutions reporting increased willingness to make installment loans, which include credit cards, has averaged 15.4 percent in three surveys of senior loan officers […]

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Political Tactics Explained

Political Tactics Explained

5 Ways to Get Votes and Infuriate the Opposition Sen. Elizabeth Warren (D-MA) knows how to preach to the choir, as does Sen. Ted Cruz (R-TX). Months into their freshmen terms, both Warren and Cruz have emerged as stalwarts—if not the intellectual future—of their parties. Each was a headline speaker at events this week, their […]

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Complaints Against Banks – Ohio data

Complaints Against Banks – Ohio data

Chase, PNC, Huntington, Fifth Third among banks drawing most complaints If you have a beef with your bank, it’s a good bet that it’s about checking accounts. The Ohio Public Interest Research Group released a report yesterday that documents complaints filed against banks and how they are handled. This is the first look at the […]

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Glass Steagall Take Two

Glass Steagall Take Two

Scaling back ‘too big’ The 21st Century Glass-Steagall Act would reduce the risk of another crash Five years have passed since the financial crisis, but we all remember its darkest days. Credit dried up. The stock market cratered. There were legitimate fears that the dominos of our financial system would never stop falling. The crash […]

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Western Banks Stagnate, Eastern Banks Increase

Western Banks Stagnate, Eastern Banks Increase

ICBC tops world banks ranking: The Banker The Industrial and Commercial Bank of China (ICBC) has moved from third to first place in The Banker’s Top World Banks ranking this year, on the back of a 15-percent increase in capital, announced The Banker, a global banking and finance service provider, on Monday. ICBC’s performance marks […]

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Company Deposits With High Yield Brings High Risk

Company Deposits With High Yield Brings High Risk

Are your deposits safe? Sathya was beaming and proud of his new investment – a deposit with a non-banking financial company offering 12 per cent interest. Done in the nature of a deposit, he was convinced it was risk-free (unlike equity). The fact that the company was registered under the Reserve bank of India was […]

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Issues Woe In UK Lending Systems

Issues Woe In UK Lending Systems

Mend the money machine The woes of small businesses in Italy and Spain threaten to be the next twist in the euro saga John Stuart Mill said, is just a machine: a tool for doing things, like exchanging goods, that take longer without it. Milton Friedman upped the ante: “Because it is so pervasive, when […]

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Online Banking Only Beneficial if it Enhances Customer Experience

Online Banking Only Beneficial if it Enhances Customer Experience – 2/7/13

The Latest Trends That Will Redefine Online Banking Online banking has had a tremendous effect on banks because people can now complete financial transactions by visiting secure websites that are maintained by brick-and-mortar or virtual banks, credit unions or brokerage houses. While this is convenient consumers are also concerned that their financial information may be […]

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Bank Stress Tests 29% Stock Market Drop

Bank Stress Tests 29% Stock Market Drop – 1/30/12

Fed to release big bank stress tests March 7 The Federal Reserve said Monday it was conducting stress tests on 30 big financial institutions and it will release results from 19 of the banks on March 7, as part of its effort to ensure large institutions have enough capital to withstand a deep recession and […]

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Public Trust Crisis

Public Trust Crisis – 1/30/13

The most—and least—trusted industries and spokespeople Most people still distrust banks, business leaders, and government officials, according to Edelman’s 13th annual Trust Barometer, which measures the public’s faith in various institutions, industries, and individuals. The least trusted industries are financial services, banks, and media, although all three saw modest gains in trust from the previous […]

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Bank Customer Anonymised Data

Bank Customer Anonymised Data – 12/9/12

Banks, customer loyalty, anonymisation & the single customer view Financial services sector head John Salmon brings you insight and analysis on what really matters in the world of financial services. Research published by Ctrl-Shift last week highlighted that retail banks need to do more in terms of strategy when it comes to customer loyalty. The […]

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Will Buying Debt to Forgive Debtors Create Contributions to Purchase and Forgive More Debt

Will Buying Debt to Forgive Debtors Create Contributions to Purchase and Forgive More Debt – 11/17/12

Why Occupy’s Plan To Cancel Consumer Debts Is Brilliant A new initiative is re-energising the Occupy movement. Called the Rolling Jubilee, it is a plan to use money from donations to buy distressed consumer debt from lenders at a marked down price, just as debt collection agencies normally would. But instead of hounding debtors for […]

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Hungry for Income, Banks Flirt With Payday Lending

FDIC and CFPB scrutinize Bank Payday Lending – 11/5/12

Hungry for Income, Banks Flirt With Payday Lending Seeking new income after federal rules limited fees from overdrafts and debit cards, Wells Fargo (WFC), U.S. Bancorp (USB), and other big banks are pitching short-term, high-cost loans that resemble the payday loans more commonly offered by strip-mall storefront operations. At least five banks are offering the […]

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The Golden Rules of Retail Banking Customer Service

Bank Fees Dissatisfaction – 9/29/12

The Golden Rules of Retail Banking Customer Service Bank fees. Few words evoke consumer vitriol faster. Dissatisfaction with escalating checking and ancillary fees for banking services is making competition for customer loyalty in retail banking especially high.   Research shows that great service can play a key role in customer retention throughout these changes in […]

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Bank of America

Banks new methods measure customer satisfaction 8/11/12

Banks adopt new methods to measure customer satisfaction Banks have put in place a number of mechanisms to gauge customer satisfaction with services such as deposits, withdrawals, loans, and balance inquiries. The banks consider the measures an important step towards improving services, which will allow them to maintain their customer bases and attract new clients. […]