As Home Insurance Bills Go Up, Owners’ Coverage Is Going Down
The New York Times: Banking
FEBRUARY 16, 2024
Frequent natural disasters and high inflation have led insurers to raise premiums, and forced many customers to pare back their policies.
Bank Financial Institution Insurance 
JPMorgan Chase, Bank of America and Wells Fargo Earned Billions
The New York Times: Banking
JANUARY 12, 2024
JPMorgan Chase, Bank of America and Wells Fargo reported healthy quarterly profits despite having to pay to replenish the industry’s deposit insurance fund.
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Climate Activists in New York Protest Citibank and Other Backers of Big Oil
The New York Times: Banking
JULY 11, 2024
Amid soaring temperatures, hundreds of activists are staging boisterous blockades and solemn marches at banks and insurers that support fossil fuel projects.
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Under Fire for ‘Toxic’ Work Culture, Bank Regulator Apologizes Again
The New York Times: Banking
MAY 14, 2024
A scathing report revealed a culture of widespread sexual harassment and discrimination at the Federal Deposit Insurance Corporation. Martin Gruenberg will testify on Capitol Hill starting on Wednesday.
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Nasdaq to process risk calculations up to 100 times faster through integration of AI
The TRADE
OCTOBER 17, 2024
Nasdaq has integrated AI into its Calypso platform to enhance bank and insurance risk calculations, in a move set to process risk calculations up to 100 times faster.
As Hurricanes Persist, Soaring Insurance Costs Hit Commercial Real Estate
The New York Times: Banking
OCTOBER 8, 2024
Struggling landlords and developers are seeking leeway on coverage from their lenders — mostly in vain.
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How to Keep Your Money Safe if Your Online Lender Is Not a Bank
The New York Times: Banking
AUGUST 10, 2024
The collapse of a little-known intermediary named Synapse Financial Technologies has put a spotlight on the risk that customers face when using popular banking start-ups.
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Do You Need An Insurance Agency Investment Bank?
Sica Fletcher
AUGUST 21, 2024
The sections below outline what insurance agency investment banks typically provide for clients, to help readers determine whether they are actually needed. Do You Need An Insurance Agency Investment Bank? Sica | Fletcher has been proud to represent thousands of insurance agencies and brokerages over the last 10 years.
F.D.I.C. Says Banks Need to Keep a Record of Their Fintech Customers
The New York Times: Banking
SEPTEMBER 17, 2024
Banks holding customer funds for money management apps should keep track of customers’ identities and balances, the agency says.
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A ‘Shadow’ Lending Market in the U.S., Funded by Insurance Premiums
The New York Times: Banking
OCTOBER 4, 2023
Apollo was the first to use annuities to build a major financing business. Others followed, driving the growth of the private lending market and worrying regulators.
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What Is the Basel III Endgame, and Why Are Banks So Upset About It?
The New York Times: Banking
JANUARY 18, 2024
Federal regulators want to raise capital requirements for big banks. Their plan is drawing criticism from groups that aren’t normally aligned with the industry.
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Cooperative Banking: Meaning, Structure & Advantages
Razorpay
JULY 20, 2023
Cooperative banking refers to a small financial institution started by a group of individuals to address the capital needs of their specific community. Such financial institutions are owned and controlled by their members, and the board members are democratically selected to oversee the operations.
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Banks Sue Regulators Over Anti-Redlining Rule
The New York Times: Banking
FEBRUARY 5, 2024
A new lawsuit says federal agencies overstepped their authority in a rule forcing banks to do business in underserved communities.
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What is a Neobank? Everything you should know
Razorpay
JUNE 18, 2023
Traditional banking, which has been the go-to for hundreds of years now, has not been able to keep up with today’s tech-savvy customers. Long waiting times, security issues, and fixed working hours are a few of the problems plaguing legacy financial institutions today. So are they really better than traditional banks?
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Synapse Bankruptcy: When a Fintech Isn’t a Bank and Savings Accounts Are Frozen
The New York Times: Banking
JULY 9, 2024
For unsuspecting depositors of online financial start-ups, the unraveling of a little-known intermediary has separated them from their life savings.
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Artificial Intelligence (AI) in Banking, Financial Services, and Insurance (BFSI) Market to Surpass USD 180.93 Billion by 2031 | SkyQuest Technology
Global Newswire by Notified: M&A
MAY 14, 2024
Westford, USA, May 14, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Artificial Intelligence (AI) in Banking, Financial Services, and Insurance (BFSI) Market will attain a value of USD 180.93 billion by 2031, with a CAGR of 31.8% over the forecast period (2024-2031).
Banking Deal Oversight Expected to Get a Major Revamp
The New York Times: Banking
SEPTEMBER 17, 2024
and the Justice Department are likely to change how they evaluate mergers and acquisitions in the banking industry. The F.D.I.C.
Biden’s Pick to Lead F.D.I.C. Faces Little Resistance in Senate Hearing
The New York Times: Banking
JULY 11, 2024
Nominated for chair of the Federal Deposit Insurance Corporation, Christy Goldsmith Romero was cheered by Democrats and accepted by Republicans at a hearing.
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Wayne Savings Bancshares, Inc. and Main Street Financial Services Corp. Receive Regulatory Approval for Merger
Global Newswire by Notified: M&A
MARCH 15, 2024
(OTCQX: WAYN) ("Wayne"), the holding company of Wayne Savings Community Bank and Main Street Financial Services Corp. OTCPK: MSWV) ("Main Street"), the holding company of Main Street Bank Corp., jointly announced today that approval has been received from the Federal Reserve Bank, The Federal Deposit Insurance Corp.,
Digital Check Scanning Solutions Market to Surpass 1422.7 Million by 2030 Drives Due to Rising Adoption of Digital Banking Solutions
Global Newswire by Notified: M&A
AUGUST 8, 2023
Governments worldwide have increased their investments in the BFSI (Banking, Financial Services, and Insurance) sector, driving consumers' adoption of digital banking solutions in the digital check scanning solutions market. million by 2030, with a CAGR of 5.8% over the forecast period (2023-2030).
How Bank Reconciliation Helps Businesses?
Razorpay
MAY 17, 2023
Bank reconciliation refers to the process by which the bank account balance of a business entity is reconciled with the amount recorded by financial institutions in the latest bank statement. What is a Bank Reconciliation Statement? It is to reconcile the bank account balance with the internal cash record.
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Democrats Batter Bank Regulator Over F.D.I.C.’s ‘Toxic’ Workplace Culture
The New York Times: Banking
MAY 15, 2024
The agency’s chair, Martin Gruenberg, has resisted Republicans’ calls to resign, but criticism by his own party raises questions about how long he can hang on.
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What is Private Banking and How Does It Work?
Razorpay
DECEMBER 15, 2024
What is Private Banking? Private banking is a personalized financial and wealth management service provided by banks to high-net-worth individuals (HNWIs). Unlike retail banking, which caters to the general public, private banking focuses on delivering banking services for affluent individuals and businesses.
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What Is eMandate: Meaning and How Does It Work?
Razorpay
MARCH 21, 2024
In 2001, you needed money and had to take a bank loan. After visiting your bank, you received a pamphlet with loan details. You compared other banks, gathered documents, submitted them, and waited for verification. You approached a bank for a loan and realized you could avail benefits without visiting the bank.
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Christy Goldsmith Romero Is Front-Runner to Lead F.D.I.C.
The New York Times: Banking
JUNE 11, 2024
The front-runner for the bank regulatory job is Christy Goldsmith Romero, a member of the Commodity Futures Trading Commission.
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Cookies, Cocktails and Mushrooms on the Menu as Supreme Court Hears Bank Fraud Case
The New York Times: Banking
JANUARY 14, 2025
In trying to find the line between false statements and misleading ones in the case of a Chicago politician, members of the Supreme Court posed colorful questions.
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Late-Night Negotiating Frenzy Left First Republic in JPMorgan’s Control
The New York Times: Mergers, Acquisitions and Dive
MAY 1, 2023
The resolution of First Republic Bank came after a frantic night of deal making by government officials and executives at the country’s biggest bank.
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UBS and Credit Suisse: The Next Shoe to Drop in the Financial Crisis of 2023?
Mergers and Inquisitions
MARCH 22, 2023
Before delving in, though, I want to start with the elephant in the room: I was partially wrong ~5 months ago when I wrote about Credit Suisse, UBS, and Deutsche Bank, and whether they would become Lehman Brothers 2.0. billion at a P / BV multiple of 0.1x – exceptionally low for a commercial bank. with flying colors !
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Optimized for Success: How Instant Mudra is transforming rural banking with Razorpay Optimizer
Razorpay
MAY 24, 2023
Instant Mudra is a fintech company that aims to make banking services accessible to communities that are unbanked and underserved. With Razorpay Optimizer, Instant Mudra was able to manage multiple payment gateways and boost its transaction success rate while pursuing the goal of transforming rural banking.
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Biden Nears Pick for Next FDIC Chair
The New York Times: Banking
JUNE 11, 2024
The front-runner for the bank regulatory job is Christy Goldsmith Romero, a member of the Commodity Futures Trading Commission.
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SteelEye expands Asia-Pacific footprint
The TRADE
MARCH 12, 2024
A recent SteelEye report found that just last year four banks and an insurer were fined in a bid to tackle money laundering and market misconduct. The region’s regulatory frameworks are known to be stringent, requiring financial institutions to comply with a range of market surveillance rules.
$95 Million
The New York Times: Banking
JULY 12, 2024
The amount unaccounted for after the failure of a company that operated banking software for online financial start-ups.
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WaFd, Inc. Receives Regulatory Approval for Acquisition of Luther Burbank Corporation
Global Newswire by Notified: M&A
JANUARY 30, 2024
on the terms and subject to the conditions of the Agreement and Plan of Reorganization, dated as of November 13, 2022, by and between Luther Burbank and WaFd (the “Merger Agreement”).
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Certificate of Deposit (CD)
Wall Street Mojo
JANUARY 18, 2024
Certificate of Deposit (CD) Definition A certificate of deposit (CD) is an investment instrument mostly issued by banks, requiring investors to lock in funds for a fixed term to earn high returns. Banks and credit unions mostly issue them in exchange of an interest income. read more earnings.
Inquiry Finds a Toxic Culture at the F.D.I.C., and Takes Aim at Its Leader
The New York Times: Banking
MAY 7, 2024
Bad workplace behavior was pervasive at the bank regulator, according to an investigation that questioned whether things can improve without a change in leadership.
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Letter of Credit: Meaning, Types & Example
Razorpay
DECEMBER 15, 2024
A letter of credit is a financial document issued by a bank or financial institution that guarantees payment to a seller on behalf of the buyer, as long as specific conditions outlined in the document are met. In an LC arrangement, the bank acts as a neutral intermediary.
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Christy Goldsmith Romero Nominated to be Next FDIC Chair
The New York Times: Banking
JUNE 13, 2024
Christy Goldsmith Romero has been nominated to be the next chair of the bank regulator that has been shaken by a “toxic” workplace culture.
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What are Corporate Accounts? Meaning, Benefits & Types
Razorpay
MARCH 18, 2024
A corporate account is a bank account one can open in the name of a business. Every small business that is required to pay tax should have a corporate bank account for business banking and its numerous benefits. Read on to learn the vital details associated with a corporate bank account. Explore RazorpayX 2.
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How Fintech is Revolutionising the Small Business Landscape
Razorpay
AUGUST 10, 2023
Banking and lending : Traditional banking is robust, but unable to keep up with the fast-evolving needs of today’s startups – no founder today wants to sit around and manually execute payroll or hundreds of vendor payments. To solve this, most fintechs choose to partner with a licensed bank or NBFC. But how exactly?
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Collateralized Debt Obligation (CDO)
Wall Street Mojo
JANUARY 15, 2024
Collateralized debt obligation (CDO) is a Structured product used by banks to unburden themselves of risk, and this is done by pooling all debt assets (including loans, corporate bonds, and mortgages) to form an investable instrument (slices/trances) which are then sold to investors ready to assume the underlying risk. read more it may cause.
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Closing Costs for Buying a Home Have Risen Along With Rates
The New York Times: Banking
MARCH 15, 2024
These mortgage fees increased 22 percent from 2021 to 2022. One likely factor is the greater use of discount points to nudge interest rates down.
The Risks of Storing Money in Apps Like Venmo and Cash App
The New York Times: Banking
JUNE 9, 2023
The Consumer Financial Protection Bureau is warning that the funds may be at risk if the app’s parent company runs into trouble.
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