From the ruins of the recent banking crisis emerges a book that shows why banking is more dangerous than most think. Reviewed by the chief economics commentator at the Financial Times, Martin Wolf, the book, The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It, dispels a host of myths about […]
TD Bank Group today announced the completion of its transaction with Target Corporation, in which TD has acquired Target’s U.S. Visa and private label card portfolio and entered into a seven-year program agreement to be the exclusive issuer of Target-branded Visa and private label consumer credit cards to Target’s U.S. customers. Read: Canadian banks on […]
Bancassurance, when banks and other lending institutions get involved in the distribution of insurance, varies greatly across the world depending on the product and structure of the market, finds research by Finaccord. Read: Canada should pursue global markets: Scotiabank The distribution share of banks is highest for life insurance in Brazil, France, Italy, South Korea […]
The majority of Canadians (81%) are worried about financial scammers.
As revenues continue to fall, cutting jobs remains an area of focus for the big banks looking to reduce operating costs and retain their competitive edge. Barclays’ chief executive Antony Jenkins has similar ideas to lower costs as he looks for a way to have the bank operate with 30% fewer staff, reports FT.com. Jenkins’ […]
The financial industry prioritizes privacy and security, and also every customers' needs.
U.S. banks reported net income of $34.7 billion in the fourth quarter of 2012, a 37% improvement from Q4 2011, finds the Federal Deposit Insurance Corporation (FDIC). And for the full year, industry earnings totaled $141.3 billion, the second highest ever reported by the industry after the $145.2 billion earned in 2006. Read: JPMorgan’s earnings […]
Canadian banks clocked an impressive 2012, but also face upcoming growth challenges.
Citigroup’s executives may have to work a little harder. The bank revealed a new pay plan that ties remuneration to preset goals and targets. Executives will get 40% of awards in cash, 30% in deferred stock and 30% in performance share units, reports ft.com. Read more. Also read: Former Citi star joins RBC Citigroup fined […]
A coalition of investors that controls over 16 million shares, worth $829 million, is calling on JPMorgan Chase to name an independent board chair. The decision of investors, including the AFSCME Employees Pension Plan, the Connecticut Retirement Plans and Trust Funds, Hermes Equity Ownership Services and the NYC Pension Funds, to jointly file the proposal […]