Banking - Fintech - Endurance in the News
EVOLVE BANK WAS SERVED A CEASE-AND-DESIST ORDER — NOW WHAT?
The FDIC order addresses a series of corrective measures focused on "deficiencies" in risk management and compliance limitations on Evolve's Open Banking Division. Endurance was quoted in this article.
Read ArticleBanking - BaaS
SYNAPSE FINTECH BANKRUPTCY AND BANKING-AS-A-SERVICE COMPLEXITIES
The drama surrounding the Synapse Financial bankruptcy continued in June. The bankruptcy sets the stage for a complex series of events that will stress-test the very concept of banking-as-a-service.
Read ArticleSYNAPSE COLLAPSE: NEARLY $109M IN YOTTA CUSTOMER FUNDS MISSING
Ledgers of the failed fintech middleman Synapse show that nearly all the deposits held for customers of the banking app Yotta went missing weeks ago.
Read ArticleBanking - AI
CITI SEES AI IMPACTING MORE THAN HALF OF ALL FINANCE JOBS
According to a new report by Citi, 54% of jobs in the banking sector have a higher potential for automation, while another 12% could be augmented by AI.
Read ArticleRegulatory - Mergers & Acquisitions
LOUISIANA BANKS SCRAP MERGER PLANS
MC Bancshares and Heritage Nola called off the deal over "uncertainties in the regulatory environment." The Biden Administration's concern about "excessive consolidation" has slowed merger applications.
Read ArticleBanking - Regional Banks
REGIONAL BANKS WANT TO SLIM DOWN. HEDGE FUNDS SMELL A BARGAIN.
Regional banks around the U.S. are striking complex and costly bargains with hedge funds, hoping to insulate themselves from a replay of the turmoil that followed Silicon Valley Bank's failure.
Read ArticlePrivate Lenders
NONBANKS ARE GROWING BUT THEIR GROWTH IS HEAVILY SUPPORTED BY BANKS
Private lenders are highly dependent on banks for their activity, and much of their growth seems backed by banks.
Read ArticleBanking - Markets
JAPAN'S CENTURY-OLD BANK SENDS WARNING TO WORLD ON HIGHER-FOR-LONGER RATES
Norinchukin Bank has become one of the biggest casualties of higher-for-longer borrowing costs and will sell $63 billion of Treasuries in coming months. [Subscription Required]
Read ArticleBanking - Economics
APOLLO GLOBAL RELEASES 2024 MID-YEAR OUTLOOK: AN UNSTABLE ECONOMIC EQUILIBRIUM
While the Fed's rate hikes have reined in growth, the easing of financial conditions since the "Fed pivot" in December continues to offset the effect of higher rates. No Fed cuts in 2024.
Read ArticleGeopolitics
NIALL FERGUSON: WE'RE ALL SOVIETS NOW
A government with a permanent deficit and a bloated military which is losing conflicts. An economy performing more poorly than the government statistics. Sound familiar?
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