Banks began reporting their earnings today. We have the latest live. See what happened with Q2 results: Citi: https://lnkd.in/efV8kBRQ JPMorgan: https://lnkd.in/eZRJgP-F Wells Fargo: https://lnkd.in/e7YZJ7pW BNY: https://lnkd.in/epj7DmFU We'll be updating through the day as the banks speak to analysts to explain their numbers. Check out all our earnings coverage on our homepage and at https://lnkd.in/eb-y9brf.
American Banker
Online Audio and Video Media
New York, New York 187,781 followers
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
About us
American Banker, an Arizent brand, is the banking industry's most powerful information resource providing analysis, insight and perspective on the business of banking. American Banker covers the people, trends, regulations and technologies driving the industry, helping readers keep pace with changes and opportunities in the marketplace. Executives and industry influencers also engage via American Banker's online and live conferences and seminars.
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http://www.americanbanker.com
External link for American Banker
- Industry
- Online Audio and Video Media
- Company size
- 201-500 employees
- Headquarters
- New York, New York
- Type
- Privately Held
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Primary
One State Street Plaza
27th Floor
New York, New York 10004, US
Employees at American Banker
Updates
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American Banker reposted this
Prominent bank investor Larry Seidman is urging Flushing Financial Corp. in Uniondale, New York, the parent of Flushing Bank, to sell itself to a larger bank focused on the Asian American market, John Reosti reports for American Banker.
Activist investor to New York's Flushing: Consider a sale
americanbanker.com
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Oakland Based Beneficial State Bank has joined consumer groups and civil rights advocates in opposing legal challenges mounted by the bank lobby against new federal anti-redlining regulations. The community oriented bank says the lawsuit, led by top bank industry trade groups' does not universally represent their industry. #cra #banking #fdic #cdfis
Beneficial State Bank joins consumer groups in opposing CRA lawsuit
americanbanker.com
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Earlier today, Donald Trump said the president should have "at least a say" on the Federal Reserve's benchmark interest rate. Many Fed watchers would say that is ridiculous. The Fed is an independent agency, insulated from political pressures so it can carry out its technocratic duties. And they would be right ... to an extent. See, for decades, the president very much did have a say on monetary policy. It wasn't until a murky agreement between the Federal Reserve and the U.S. Treasury Department (known, fittingly, as the Fed-Treasury Accord) in 1951 that the central bank formally broke its monetary policymaking away from the administration's fiscal activities. But, if you're thinking that a somewhat cryptic arrangement between government bureaucracies is an awful small shelf for something as hefty as central bank independence, you wouldn't be alone. "The Fed-Treasury Accord and Federal Reserve independence are just vibes-based," says Matt Stoller, research director of the American Economic Liberties Project. "There's no law when it comes to the Fed, in all honesty; they do what they want, and then they justify it afterwards. If they don't want to do it, they say they don't have the authority, but if they want to do it, they can find the authority." Others say the arrangement was merely a declaration of what both agencies knew all along: that the Fed was created with independence in mind. "It was essentially Appomattox for the Treasury Department," said Karen Petrou, co-founder of Federal Financial Analytics, Inc. "They had to sign it." But still others believe the Fed-Treasury Accord is a pillar of the central bank's power and autonomy. One that has neither the banking of Congress nor the power of law. So what is this arrangement? How did it come to pass? And what does it mean in the current fraught political environment? See my latest deep dive for American Banker to find out. https://lnkd.in/eXETua5b
Political bluster threatens the Fed's 'vibes-based' independence
americanbanker.com
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American Banker reposted this
Green Dot Corporation posted a big win in Q2 with the renewal and extension of its largest #BaaS partnership, especially in light of its recent settlement with the Federal Reserve. Check out my first solo byline with American Banker. #payments #b2b https://lnkd.in/e7PHS2SW
Green Dot's earnings and revenue beat analysts' estimates
americanbanker.com
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American Banker reposted this
Air Canada has been penalized for misinformation generated by its chatbot; Patagonia has been accused of letting a vendor's AI model listen to and analyze customer service conversations without consent. These cases have parallels in banking, where many institutions use AI-based chatbots and contact center software, writes Penny Crosman in American Banker. #AI #banking
AI use in customer service faces legal challenges that could hit banks
americanbanker.com
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Oportun has signed a non-binding letter of intent to sell its credit card portfolio, with the sale expected to close by the end of the third quarter. This will winnow its business down to secured and unsecured personal loans and an automated savings product.
Oportun works to reduce loan charge-offs, plans to sell card portfolio
americanbanker.com
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Hopes of lower interest rates and stronger stocks powered bank merger-and-acquisition activity in July and put 2024 on pace to easily eclipse deal totals of last year. #mergers https://lnkd.in/ehF8gagu
Bank buyers ramp up in July, raise expectations for more M&A
americanbanker.com
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The early days of BaaS were driven by market opportunity. The coming days of BaaS will be driven by the operational apparatus and software to acquire and manage that opportunity, writes Ram Ramaswamy, of Fiserv, in American Banker’s BankThink.https://bit.ly/3YDKijd
The evolution of banking as a service is at an inflection point
americanbanker.com
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Kerry White, managing director, Citi investment management, started her banking career on the trading floor at Citigroup.
Kerry White, Citigroup | Next 2024
americanbanker.com