Banking

Banking

HSBC Announces Dramatic Makeover That Splits Lender East and West

Photo by Joshua Lawrence via Unsplash

HSBC announced a restructuring that will cut costs and, if all goes as planned, ease increasingly tense geopolitical relations.

2 min read
Technology

A Cyberattack Rattled US Car Dealerships. Which Industry is Next?

Photo illustration by Connor Lin / The Daily Upside

A single point of software failure can turn entire industries into teetering Jenga towers. Next time could be a lot worse.

5 min read
Patent Drop

JPMorgan Patent Could Add Guardrails to AI in Banking

Photo via U.S. Patent and Trademark Office

Given that AI systems can’t always be totally accurate, observing when they make mistakes could mitigate a lot of harm.

2 min read
Banking

JPMorgan to Open Nearly 100 Chase Branches in Low-Income Neighborhoods

Photo by Vxla via CC BY 2.0

JPMorgan Chase announced it will open nearly 100 brick-and-mortar locations in low-income inner-city and small-town American communities.

2 min read
Banking

BofA Bets on Brick-and-Mortar with 165 New Branches by 2026

Photo by Tony Webster via CC BY 2.0

Bank of America is counting on customers putting down their screens and driving over to an actual bank to speak with a human.

1 min read
Banking

German Government Investigates Itself Over UniCredit’s Shock Commerzbank Stake Purchase

Photo by Soenke Rahn via CC BY-SA 4.0

The German government launched an internal probe to figure out how it was blindsided by UniCredit staking a major position in Commerzbank.

1 min read
Banking

Regulators Point the Finger at Banks for Overdraft Fees, Fintech Records

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Two US financial regulators told banks Tuesday to step up protections for consumers: for overdraft fees and tracking fintechs.

1 min read
Patent Drop

JPMorgan Chase Patent Highlights Risk of AI Bias in Banking

Photo via U.S. Patent and Trademark Office

A growing footprint in AI increases risk — especially when it comes to lending and risk analysis.

2 min read
Banking

Fed Majorly Backtracks on Proposed Bank-Capital Hike

Photo by Thomas Belknap via CC BY-SA 1.0

The proposal to hike holdings for the biggest lenders to buttress market shocks was sliced more than in half.

2 min read
Banking

The EU Wants to Make Its Bankers More Fireable

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The German government is planning to make it easier for companies in the financial sector to fire high-earning employees.

1 min read
Banking

Wells Fargo Sells Most of Its Commercial Real Estate Servicing Business

Photo by NoeHill via CC BY-SA 3.0

Wells Fargo said Tuesday that it will sell most of its commercial mortgage servicing business to Trimont, a global loan services provider.

1 min read
Banking

UBS Quarterly Profit Doubles Market Forecast

Photo by Thamerpic via iStock

UBS appears to have regained its form, reporting $1.1 billion in net income for the second quarter, doubling analyst estimates.

2 min read
Banking

US Regulators Investigate Banks’ Responses to Scams on Zelle

Photo by Ablokhin via iStock

Major US banks are being probed by the Consumer Financial Protection Bureau (CFPB) over how they handle fraud on P2P payments app Zelle.

2 min read