American Express, one of the most recognized brands in the world, with assets of $127 billion, is transforming into a bank holding company in order to strengthen its position in the uncertainty and turmoil of the global economy.
Worries over consumer spending, the ongoing mortgage crisis and the federal bailout are all top of mind for financial institutions on Thursday, as Wall Street heads toward a lower opening with the Dow down more than 150 points initially. Investors and economists remain stumped about how bad the global economic slump...
OK, so first came the subprime mortgage debacle, and it was bad.
Then came the global credit crunch, and it was worse.
Reading the economic tea leaves, the feds in October swept in with a $700 billion economic relief package designed to bail out some of the nation's troubled financial institutions. So, then we...
With double-digit unemployment, central Michigan saw today's financial crisis long before much of the rest of the nation. And Dennis Angner has been front and center to see it.
Past chair of the Michigan Bankers Association, Angner is CEO if Isabella Bank Corp., a $1.5 billion community banking institution. In this...
On Nov. 4, America elected Democrat Barack Obama as its next President, and the Democratic Party also cushioned its majorities in both the House and Senate.
So, what does a Democratic federal government portend for the U.S. banking industry?
In an exclusive interview, Stephen Verdier, Senior Vice President and...
One night in early October, Harbor Credit Union of Green Bay, WI, warned its members of a recent mass of robocalls. "An automated dialer started phoning people and telling them that their account had been compromised, and asking them to enter information," says Mike DeGrand, president of the institution. People were...
Two more bank closures last Friday capped a tumultuous week for the U.S. economy and stock market. And on Monday, the week began with news that the federal government is poised to invest $40 billion in troubled insurance giant AIG.
It's a frantic, historic time for banking institutions of all sizes, with mergers, acquisitions, failures and federal investment.
In an exclusive interview, James Chessen, Chief Economist for the American Bankers Association, speaks about the state of customer confidence at banking institutions, detailing:
The...
As banking unions struggle with the global crisis in confidence, U.S. credit unions are beneficiaries of consumers looking for safe new homes for their deposits.
At least that's the popular theory. But what's the real state of affairs now at federally-chartered credit unions?
In an exclusive interview, Gigi...
The crime of deception is now even more deceptive.
Multi-channel fraud - schemes that are launched simultaneously via telephone, Internet, in person and via mail - is a growing concern for financial institutions. And the linked crimes aren't always easy to spot.
In this exclusive interview, security expert Diana...
The search for stability continues, as Wall Street dropped for its second day, seeing a total cumulative point drop of more than 900 points. Bad economic and unemployment news continues to drive investors' fears that losses of more than 10 percent for the major indexes and losses of $1.2 trillion in US traded stocks...
Interview with Dr. Stephen Happel of Arizona State University
Not only is it an interesting time to be in banking; it's an interesting time to be learning about banking.
Dr. Stephen Happel is Professor of Economics at Arizona State University, and he's also a longtime instructor at the Pacific Coast Banking...
I'm traveling this week and figured I wouldn't have time to make my weekly blog entry while managing through a very full schedule. Writing these posts by itself is simple enough once you have a topic or idea to work with, but air travel, long car rides and fieldwork at multiple client sites don't allow much room for...
Insider threat is a growing criminal activity, and given economic conditions there is a high risk of this fraud occurring -- especially in the event of banks merging, being acquired and employees being laid off.
What steps can financial institutions take to safeguard themselves from the insider threat? To fully...
After the run-up for Tuesday's election, post-election Wall Street showed its nerves about the recession on Wednesday. The recent spate of poor earnings and unemployment figures made for a volatile day, with the Dow Jones Industrial Average falling nearly 500 points and all major indexes dropping more than 5 percent.
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