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Santander launches multinational BNPL product

January 29, 2023 by Sagarmir61

Santander Corporate and Investment Banking has launched a business-to-business product via a new buy-now, pay-later solution.  Madrid-based Santander CIB tapped global trade credit insurance company Allianz Trade and …

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Fed issues guidelines for weighing crypto requests from non-FDIC insured banks

January 28, 2023 by Sagarmir61

The Federal Reserve today released guidelines for how it would evaluate requests from state-chartered but non-FDIC-insured financial institutions seeking to engage in novel activities, such as those involving …

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Yellen says raising debt limit is only solution to avoid fiscal crisis

January 27, 2023 by Sagarmir61

Treasury Secretary Janet Yellen said the only solution to avoid a U.S. default crisis is for Congress to increase the federal debt limit, avoiding engaging with other proposed …

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Microsoft Cloud drives tech giant’s revenue

January 26, 2023 by Sagarmir61

Microsoft posted increased revenue year over year in its fiscal second quarter driven by its commercial business, specifically Microsoft Cloud. WHY IT MATTERS: In the first half of …

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FinCEN issues alert on Russian activity in commercial real estate

January 25, 2023 by Sagarmir61

The Financial Crimes Enforcement Network today issued an alert to financial institutions on potential attempts by Russian elites to evade sanctions through the U.S. commercial real estate sector. …

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Los Angeles Police Federal Credit Union hires new CEO | Credit Union Journal

January 24, 2023 by Sagarmir61

Los Angeles Police Federal Credit Union hired John Roemer as its new president and CEO, effective Jan. 23. Roemer replaces Ed Hada, who is retiring after working as …

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Ally looks to tech industry layoffs for potential hires

January 23, 2023 by Sagarmir61

Ally Financial is looking to capitalize on recent layoffs of tech talent to grow its own digital platforms despite potential economic turbulence to come this year.  WHY IT …

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ABA Data Bank: Spread between 30-year mortgage and 10-year Treasury widens

January 22, 2023 by Sagarmir61

The spread generally tightens when mortgage originations decline as they did last year. The post ABA Data Bank: Spread between 30-year mortgage and 10-year Treasury widens appeared first …

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Spread income growth drives record quarterly revenue for State Street

January 21, 2023 by Sagarmir61

State Street Chairman and CEO Ron O’Hanley termed 2022 “an unpredictable year,” though his bank posted record revenue in the fourth quarter. Scott Eisen/Bloomberg Custody giant State Street …

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Truist invests in innovation, talent in Q4

January 20, 2023 by Sagarmir61

Truist Financial increased its non-interest expenses in the fourth quarter of 2022 as minimum wage increased and the bank invested in technology, acquisitions, revenue-generating business and call center …

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