Bank investors fear efficiency gains alone cannot keep driving profits
JPMorgan Chase plans to open a fintech campus in Palo Alto, California, part of the bank’s efforts to attract more Silicon Valley talent.
Netspend customers kept from accessing paychecks; Sen. Elizabeth Warren rebukes Comerica over fraud in benefits program; FDIC poised to revamp deposit rules (about time, say banks); and more from this week’s most-read stories.
Mike Mackenzie’s daily analysis of what’s moving global markets
The company is facing criticism after a big chargeoff on two properties, showing that investors have little patience when a risky business model shows signs of distress.
On paper, conditions would seem favorable for regional banks to pursue acquisitions in order to overcome organic growth challenges. But executives have poured cold water on that idea in recent days.
Current political forces pose a number of risks for financial institutions, including their stock prices and performance, if not their very existence.
A recent study concluded there are first-mover benefits for banks that embrace open banking. But many executives see its risks instead.
Driver Management said it would also support National Bankshares if it decided to sell itself.