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.
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.
Insurance 
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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. Gil Guillaumey The offering offers new methodology to conduct investment portfolio risk calculations and produce predictive analytics, based on advanced machine learning.
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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TorQuest Partners racks up $2.1bn for sixth fund
PE Hub
DECEMBER 15, 2023
Fund VI's limited partners include including public and private pension plans, endowments, sovereign wealth funds, financial institutions, insurance companies and family offices. The post TorQuest Partners racks up $2.1bn for sixth fund appeared first on PE Hub.
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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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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.
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 As a result, investments in AI technology by banks, corporations, insurers and other financial institutions worldwide have soared.
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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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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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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What is a Neobank? Everything you should know
Razorpay
JUNE 18, 2023
Long waiting times, security issues, and fixed working hours are a few of the problems plaguing legacy financial institutions today. Smoother UI In 2018, financial institutions’ top strategic priority was improving the consumer’s digital experience. And so the fintech world came up with a solution: n eobanks.
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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
jointly announced today that approval has been received from the Federal Reserve Bank, The Federal Deposit Insurance Corp., (OTCPK: MSWV) ("Main Street"), the holding company of Main Street Bank Corp., with and into Wayne Savings Community Bank.
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. SkyQuest projects that the digital check scanning solutions market will attain a value of USD 1422.7
ICX Helps Identify Legal Uncertainties of Solvency II Directive through Financial Markets Law Committee Pape
Shearman & Sterling
SEPTEMBER 22, 2013
The Directive 2009/138/EC aims to harmonize European insurance regulation, primarily the capital that companies must hold. The Solvency II Directive was supposed to become effective from January 1, 2014, however delays until 2016 are being suggested.
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.
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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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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What Is eMandate: Meaning and How Does It Work?
Razorpay
MARCH 21, 2024
A mandate is a standard instruction that you provide to your issuing bank and other institutions allowing them to automatically debit the mentioned amount from your bank account. With the advent of eMandates, these life insurance providers have been able to ease the process. They can now sell a plan to the customer online.
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Certificate of Deposit (CD)
Wall Street Mojo
JANUARY 18, 2024
They come at a low risk, with some being insured by government bodies. Unlock the art of financial modeling and valuation with a comprehensive course covering McDonald’s forecast methodologies, advanced valuation techniques, and financial statements. Many banks often put forth a minimum investment requirement.
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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Navigating the Legal Maze in M&A: Unraveling Lesser-Known Considerations
Sun Acquisitions
MAY 24, 2024
Healthcare Industry: In healthcare M&A, compliance with stringent regulations such as the Health Insurance Portability and Accountability Act (HIPAA) is non-negotiable. Financial Services Sector: Financial institutions face a complex web of regulations.
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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
Insure the Deposits – But this is expensive and is available only up to a certain per-account limit in most countries, such as CHF 100,000 in Switzerland and $250,000 in the U.S. Insuring all deposits or deposits up to $10 million is a bad idea because it will encourage bank executives to be even more reckless.
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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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What are Corporate Accounts? Meaning, Benefits & Types
Razorpay
MARCH 18, 2024
Corporate Account that supercharges your banking experience The RazorpayX-powered current account is backed by leading financial institutions. Decide on an investment strategy Business owners should formulate a suitable investment strategy for their corporate accounts based on their financial goals. Deposits and safe lockers 5.
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Optimized for Success: How Instant Mudra is transforming rural banking with Razorpay Optimizer
Razorpay
MAY 24, 2023
Instant Mudra provides various essential services like banking, remittance, micro ATM, bill payments, online shopping, loans, and insurance, with a view to achieving financial inclusion. This is accomplished by engaging with locals and creating small centres in remote areas to help retailers with all their banking needs.
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52 
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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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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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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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. By involving a financial institution, sellers are assured of payment upon presenting the required documents.
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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. The main objective of conducting this process is to prepare a statement recording the difference between these two.
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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.
What is Private Banking and How Does It Work?
Razorpay
DECEMBER 15, 2024
Financial institutions ensure that all client transactions and records are handled with strict confidentiality, protecting clients’ personal and financial information. Private Banking Wealth Management Private banking is a service offered by banks and other financial institutions to high-net-worth individuals.
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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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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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Bullet Bond
Wall Street Mojo
JANUARY 18, 2024
Banks and financial institutions Financial Institutions Financial institutions refer to those organizations which provide business services and products related to financial or monetary transactions to their clients. Bullet Bonds are the most common and widely issued bonds across the globe.
Collateralized Debt Obligation (CDO)
Wall Street Mojo
JANUARY 15, 2024
CDOs are considered highly astute financial instruments Financial Instruments Financial instruments are certain contracts or documents that act as financial assets such as debentures and bonds, receivables, cash deposits, bank balances, swaps, cap, futures, shares, bills of exchange, forwards, FRA or forward rate agreement, etc.
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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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How Fintech is Revolutionising the Small Business Landscape
Razorpay
AUGUST 10, 2023
Insurance : What used to be a complicated, dusty industry that resisted all change is now sleek, new and much easier to use. Insuretechs like Acko and GoDigit Insurance have managed to make personal and corporate insurance more approachable than ever.
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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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¿Qué pasa cuando tu banco no es realmente un banco y tu dinero desaparece?
The New York Times: Banking
JULY 11, 2024
En un caso que los expertos califican como “muy inusual”, cientos de usuarios perdieron acceso a sus ahorros y, para recuperarlos, primero tienen que saber quién tiene su dinero.
¿Qué ocurre cuando tu banco no es realmente un banco y tu dinero desaparece?
The New York Times: Banking
JULY 10, 2024
En un caso que los expertos califican como “muy inusual”, cientos de usuarios perdieron acceso a sus ahorros y, para recuperarlos, primero tienen que saber quién tiene su dinero.
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