Finance :: Financial Institutions

ECB under pressure to soften crackdown on bad loans: sources

reuters.com

ECB under pressure to soften crackdown on bad loans: sources


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Waterloo man arrested in bank transfer fraud

wcfcourier.com

Waterloo man arrested in bank transfer fraud


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Coming soon: A selfie with your credit card application

detroitnews.com

Coming soon: A selfie with your credit card application


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China central bank Governor Zhou says likely to retire soon

reuters.com

China central bank Governor Zhou says likely to retire soon


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Alpine Bank hosts press conference to address buyout by Midland States Bank

wrex.com

Alpine Bank hosts press conference to address buyout by Midland States Bank


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Why credit union branches keep opening in the Treasure Valley while bank branches close | Idaho Statesman

idahostatesman.com

Why credit union branches keep opening in the Treasure Valley while bank branches close | Idaho Statesman


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Australia's ANZ sells pension business to IOOF for $766 million

reuters.com

Australia's ANZ sells pension business to IOOF for $766 million


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Home / United States / Business / Finance / Financial Institutions
VFCU announces Robinson selected for Filene I3 Program
Jean Giard, President and CEO of Vermont Federal Credit Union, is pleased to announce that Doug Robinson has been selected to Filene Research Institutes Program. Out of hundreds who applied, sixteen employees from credit unions nationwide were selected for the prestigious i Program. Robinson shared that the application process was “rather rigorous” and included a personal essay, references, a personality test and a tryout period   Read More ...
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Here’s how bond markets could react to the ECB next week
European Central Bank President Mario Draghi will return to the spotlight next Thursday with the focus firmly on how he plans to trim the bank's asset purchase policy. So far, the ECB has said its purchases are intended to run at their current pace of 60 billion euros ($70.1 billion) per month until December 2017 "or beyond, if necessary," and that there would be a winding-down phase after that   Read More ...
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Wells Fargo Execs, Currency Trader Out In Possible Fallout From Consumer Investigations
NEW YORK (CBSLA/AP) — Three high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another over auto insurance practices. Wells Fargo confirmed Friday that the employees from the investment bank side of the business were no longer with the firm but would not say if they were fired   Read More ...
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Trump considers Fed's Powell, economist Taylor to lead central bank
WASHINGTON (Reuters) - President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank’s top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change. Under that scenario, either Powell or Taylor would take the reins from Fed Chair Janet Yellen early next year, with the other filling the vice chair position left vacant when Stanley Fischer retired this month   Read More ...
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Tisdel, who led fierce banking fight, passes away
Prominent Portland bank executive Donald Lawson Tisdel, who led a headline-making legal battle against federal banking regulators, died Sept. 9 after suffering a stroke. He was 83. Tisdel was one of the dominant bankers in Portland for much of the 1970s and '80s. He led Oregon Bank when it was a strong No. 3 behind market leaders U.S. Bancorp and First Interstate   Read More ...
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Wells Fargo: 4 currency executives no longer work at bank
NEW YORK (AP) — Three high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another over auto insurance practices. Wells Fargo confirmed Friday that the employees from the investment bank side of the business were no longer with the firm but would not say if they were fired   Read More ...
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Gains by banks, technology firms lead US stocks higher
Technology companies and banks led U.S. stocks higher in late-afternoon trading Friday, placing the market on course to extend its gains for the week. Investors cheered a crop of strong company earnings. They also drew encouragement from the Senate's passage of a budget bill, a move expected to ease the path for the White House's tax cut proposal. Consumer products companies lagged the most   Read More ...
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Wells Fargo names regional bank president for central and eastern Virginia
A reorganization at Wells Fargo & Co. earlier this year led to leadership shake-up at the San Francisco-based bank, resulting in changes in Virginia and elsewhere. “With her more than 30 years of banking and finance experience, she will serve the company well in her new role," said Rick Redden, president of Well Fargo’s Community Bank division for Virginia, North Carolina, Maryland and Washington D   Read More ...
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Places: Americas |  North America |  United States |  Virginia | 
Wells Fargo: 4 currency executives no longer work at bank
NEW YORK (AP) - Three high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another over auto insurance practices. Wells Fargo confirmed Friday that the employees from the investment bank side of the business were no longer with the firm but would not say if they were fired   Read More ...
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BRIEF-Fair secures offers for nearly $1 bln capital from investment banks, Sherpa Capital-led entity‍​‍​
* Secures offers for nearly $1 billion in capital from investment banks, and Sherpa capital-led entity * Closing strategic funding round led by BMW i ventures that includes investments from Penske Automotive Group and other strategic investors Source text for Eikon: Our Standards:   Read More ...
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Gains by banks, technology firms lead US stocks higher
U.S. stocks notched modest gains in afternoon trading Friday as investors cheered a crop of strong company earnings. Technology companies posted some of the biggest gains. Banks and bond yields jumped after the Senate passed a budget bill that eases the path toward passing tax cuts sought by the Trump administration. Consumer products companies lagged the most. KEEPING SCORE: The Standard & Poor's 500 index rose 10 points, or 0   Read More ...
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BRIEF-Wells Fargo has fired 4 foreign-exchange bankers amid an investigation- WSJ‍​
* Wells Fargo & Co has fired 4 foreign-exchange bankers amid an investigation into that business by both bank and regulators- WSJ, citing sources Source text: on.wsj.com/2yvqDpN Further company coverage:   Read More ...
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Wells Fargo fires forex bankers, investigates unit: WSJ
(Reuters) - Wells Fargo & Co (), the third-largest U.S. bank by assets, has fired four foreign-exchange bankers amid an investigation into that business by both the bank and regulators, the Wall Street Journal reported, citing people familiar with the matter and the bank. The foreign-exchange investigation now shows there is also trouble in Wells Fargo's investment-banking arm, the WSJ reported   Read More ...
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Wells Fargo faulted by U.S. regulator for auto insurance abuses -NYT
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Tags: Banks & Banking |  Insurance | 
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BRIEF-Bank of the James reports Q3 EPS $0.23
Oct 20 (Reuters) - Bank of the James: * Bank of the James announces third quarter, nine months 2017 financial results and declaration of dividend * Says Q3 earnings per share $0.23 * Says net interest income increased to $5.28 million for three months ended September 30, 2017 from $4.87 million Source text for Eikon: Further company coverage: Our Standards:   Read More ...
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Europe's easy money taps to be tightened — very slowly
FRANKFURT, Germany (AP) — The economy of the 19 countries that use the euro currency is growing ever stronger, and it's time for the European Central Bank to start telling the public how it will phase out its extraordinary stimulus measures. But rest assured: The era of easy money isn't ending just yet in Europe, say analysts. The bank will ease off its month bond-buying stimulus slowly — and interest rates likely won't be raised for nearly another two years   Read More ...
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Places: United States |  Europe |  Hesse |  Frankfurt | 
Tech, bank stocks lift Wall Street; tax-cut plan back in focus
(Reuters) - Technology and bank stocks lifted Wall Street on Friday and investor optimism received a fresh boost from Washington, where the Trump administration inched a step closer to implementing tax-cut plan. Bank of America () jumped 1.8 percent and Goldman Sachs () rose 1 percent, trailing a rise in U.S. Treasury yields and Apple’s () 0.8 percent gain led the recovery in technology stocks   Read More ...
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US STOCKS-Tech, bank stocks lift Wall St; tax-cut plan back in focus
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Tags: Taxes |  Banks & Banking | 
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ECB under pressure to soften crackdown on bad loans: sources
The ECB’s Single Supervisory Mechanism is due to come up with a new set of rules by March for how much money banks should set aside against their stock of bad loans, a thorny issue in Italy, where lenders are sitting on more than a quarter of the euro zone’s 865 billion euros ($1.0 trillion) unpaid loans. But the sources said the strong Italian backlash against the SSM’s latest proposals on how lenders should deal with new bad loans meant supervisors were having to reassess their approach to tackling already soured debts   Read More ...
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Banks, technology lead early gains for US stocks; oil falls
U.S. stocks were up slightly in early trading Friday as investors cheered a crop of strong company earnings. Technology companies posted some of the biggest gains. A jump in bond yields also helped lift bank shares. Consumer products companies lagged the most. Energy stocks declined following a slide in crude oil prices. KEEPING SCORE: The Standard & Poor's 500 index rose 9 points, or 0   Read More ...
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Places: Americas |  North America |  United States | 
Banks, technology lead early gains for U.S. stocks
U.S. stocks were up slightly in early trading Friday as investors cheered a crop of strong company earnings. Technology companies posted some of the biggest gains. A jump in bond yields also helped lift bank shares. Consumer products companies lagged the most. Energy stocks declined following a slide in crude oil prices. The Standard & Poor's 500 index rose 9 points, or 0   Read More ...
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Places: Americas |  North America |  United States | 
Bank, tech stocks lift Wall Street
(Reuters) - U.S. stocks inched higher on Friday as bank stocks rose and tech stocks recovered, with investor optimism back as Trump administration cleared a hurdle to lower taxes. Bank of America’s () 2 percent gain was the biggest boost to the S&P. Apple () led the gains in the technology index as it rose 0.60 percent after falling 2.5 percent on Thursday   Read More ...
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Banks, technology lead early gains for US stocks; oil falls
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Tags: Banks & Banking |  Crude oil | 
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US STOCKS-Bank, tech stocks lift Wall Street
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Tags: Banks & Banking | 
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Markets Right Now: Banks, technology lead early stock gains
NEW YORK (AP) — The latest on developments in financial markets (All times local): Stocks are opening higher on Wall Street, led by gains in technology companies and banks. Synchrony Financial jumped 5.4 percent early Friday and Citizens Financial rose 2.7 percent. Both reported higher earnings than analysts had been expecting. A jump in bond yields was also helping send bank stocks higher   Read More ...
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Markets Right Now: Banks, technology lead early stock gains
NEW YORK (AP) — The latest on developments in financial markets (All times local): Stocks are opening higher on Wall Street, led by gains in technology companies and banks. Synchrony Financial jumped 5.4 percent early Friday and Citizens Financial rose 2.7 percent. Both reported higher earnings than analysts had been expecting. A jump in bond yields was also helping send bank stocks higher   Read More ...
Categories: Business | 
Places: Americas |  North America |  United States | 
Europe's easy money taps to be tightened — very slightly
FRANKFURT, Germany (AP) — The economy of the 19 countries that use the euro currency is growing ever stronger, and it's time for the European Central Bank to start telling the public how it will phase out its extraordinary stimulus measures. But rest assured: The era of easy money isn't ending just yet in Europe, say analysts. The bank will ease off its month bond-buying stimulus slowly — and interest rates likely won't be raised for nearly another two years   Read More ...
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Places: United States |  Europe |  Hesse |  Frankfurt | 
SunTrust Banks' profit rises 12 pct on higher interest rates
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Tags: Banks & Banking | 
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SunTrust Banks' profit rises 12 pct on higher interest rates
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Bank of England's 'unreliable boyfriend' needs to get message right
LONDON (Reuters) - For the Bank of England, the hard bit about finally raising interest rates will be getting borrowers to heed the message it is likely to send: that they should not fear many more hikes any time soon. Britons have not seen their debt costs rise since July 2007, shortly before the financial crisis which pushed the world’s fifth-biggest economy into its deepest recession in decades   Read More ...
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In Kuroda's face - researchers find ways to predict central bank changes
TOKYO (Reuters) - For decades, economists have tried to guess central bank policy direction by studying subtle changes in official language -- now, researchers are finding new clues on policy, not in the words of central banker but in their faces. In Japan, two artificial intelligence researchers, one from Nomura Securities and the other from Microsoft, are using software to analyze split-second changes in the facial expressions of Bank of Japan Governor Haruhiko Kuroda at his post-meeting press conferences   Read More ...
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China hires 10 banks including Citigroup, HSBC for $2 bln sovereign bond issue
HONG KONG, Oct 20 (Reuters) - China has hired 10 banks including Agricultural Bank of China Bank of Communications, and Citigroup for its $2 billion dollar-denominated sovereign bond issue, according to an internal bank memo seen by Reuters on Friday. Besides Citigroup, other foreign banks hired by the People’s Republic of China (PBOC), acting through the Ministry of Finance, for the issue are Deutsche Bank, HSBC , and Standard Chartered, the memo showed   Read More ...
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Romania - Factors to watch on Oct. 20
DEBT TENDER Romania’s finance ministry rejected all bids at a tender aimed at selling March 2022 treasury bonds on Thursday, the fifth consecutive failed auction this month, central bank data showed. EIB European Investment Bank vicepresident Andrew McDowell said on Thursday he expected financing for Romania to rise this year to at least 1.3 billion euros ($1.54 billion) worth of signed loan contracts, up from roughly 1 billion euros last year   Read More ...
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Little girl with a 'huge heart' empties piggy bank to help class
(Meredith) – A 5-year-old Michigan girl named Sunshine is melting hearts across the country after she emptied her piggy bank to help a friend in need, and then raised more than $9,000 for the rest of her kindergarten class. Sunshine started saving up her coins when she noticed one of her classmates didn't have enough money to buy milk during their snack break   Read More ...
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BRIEF-Iberiabank Corp announces agreement to acquire Gibraltar Private Bank & Trust Co
Oct 19 (Reuters) - Iberiabank Corp: * Iberiabank Corporation announces agreement to acquire Gibraltar Private Bank & Trust Co * Iberiabank Corp - each share of Gibraltar common stock, including restricted stock awards will be exchanged for 1.9749 shares of IBKC common stock * Iberiabank Corp - gibraltar shareholders will receive IBKC shares valued at approximately $158.29 per Gibraltar common share * Iberiabank Corp - IBKC expects to issue approximately 2   Read More ...
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Places: United States |  Europe |  S. Europe |  Iberia |  Gibraltar | 
Two arrested in Stoughton bank robbery Tuesday were wanted for credit union robbery in Appleton
Two men arrested Tuesday for bank robbery that happened in Stoughton a short time earlier had been sought by police in Appleton for a similar robbery there last month, according to court documents. The two jumped out of the car and ran but were arrested near Fish Hatchery Road. Inside the car, police found four Home Savings Bank bags filled with cash, along with white gloves and two 9mm handguns, according to the search warrant   Read More ...
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Molly Dillon named deputy commissioner of DFR Banking Division
Vermont Business Magazine Molly Dillon has been named deputy commissioner of the Vermont Department of Financial Regulation’s Banking Division, Commissioner Michael S. Pieciak announced today. Dillon has more than 30 years of experience in both retail and community banking and brings to the job a wealth of knowledge of current operations and senior management. She comes to DFR from Merchants Trust Co   Read More ...
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Waterloo man arrested in bank transfer fraud
WATERLOO – A Waterloo man has been arrested after a North Carolina woman’s money was transferred into his credit union account. The Charlotte, N.C., woman had never been to Waterloo and doesn’t know anyone in Iowa, and she went to police in August after money from her bank account was moved a credit union account held by Jaquille O’Neal Anderson. A $2,000 transfer went through, and Anderson allegedly withdrew the cash on Aug   Read More ...
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CANADA STOCKS-TSX grinds higher as banks lift, energy retreats
(Adds portfolio manager quotes, details throughout; updates prices) * TSX ends up 35.84 points, or 0.23 percent, at 15,818.00 * Five of the TSX’s 10 main groups rise * Financials rise 0.5 percent * Energy falls 0.5 percent By Fergal Smith Royal Bank of Canada, the country’s biggest bank by market capitalization, added 0.8 percent to C$100.82, while the overall financials group gained 0   Read More ...
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Applying for a credit card? Please take a selfie
NEW YORK (AP) — The selfie is everywhere — Facebook, Instagram, Twitter — and soon your bank could be asking for one in order to approve your purchase or credit card application. Payment processing giant Visa Inc. is launching a platform to allow banks to integrate various types of biometrics — your fingerprint, face, voice, etc. — into approving credit card applications and payments   Read More ...
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