The revelation of a trading loss of more than $2 billion and possibly as much as $3 billion at JPMorgan Chase Bank by its vaunted chairman and CEO, Jamie Dimon, arrived as a sort of exclamation point for the rising chorus of critics who would break up the nation’s largest banks or curtail their proprietary trading.
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April 28 – Leading payments consultancy FIME has launched a customized consulting offer to help U.S. payment card issuers and acquirers accelerate their move to secure EMV chip payments. Designed specifically for the unique and complex U.S. payments industry, FIME’s EMV chip consulting packages can ensure successful, cost-effective and efficient migrations for organizations of any size and at any stage of implementation.
Oct 9 – Federal Housing Finance Agency Acting Director Edward J. DeMarco has released an updated strategic plan for FHFA for fiscal years 2013-2017 subtitled, “Preparing a Foundation for a More Efficient and Effective Housing Finance System.”
Although the overall theme of the Iowa Bankers Association Convention & Expo in Des Moines last month was a tribute to Iowa veterans, changes and reaction to those changes were also prominent themes. For example, the financial industry has hit an inflection point — a point of great change within an industry, according to Peter Sheahan, founder and CEO of ChangeLabs. Sheahan said it is how companies within those changing industries react to the inflection point that will determine how well they succeed during and afterward.
April 10 – Federal Reserve Board Chairman Ben S. Bernanke spoke at the 2012 Federal Reserve Bank of Atlanta’s Financial Markets Conference in Stone Mountain, Ga., on April 9, 2012. His speech is below.
Why it is important to be well prepared for litigation, to have a high-performing investment portfolio and to file suspicious activity reports were among nuggets of advice shared by speakers with members of the Community Bankers Association of Kansas at their annual convention last month in Wichita.
June 24 – Chairman Frank, on behalf of the House conferees, released the House offer on the title listed below. The title will be subject to debate when the House-Senate Conference Committee convenes in room SD-106, Dirksen Senate Office Building, at 9:30 a.m. tomorrow.
June 15 – Chairman Frank, on behalf of the House conferees, released the House offer on the titles listed below. The issues will be subject to debate when the House-Senate Conference Committee convenes tomorrow.
Nov 7 – The House Committee on Financial Services has approved historic bipartisan mortgage reform legislation and anti-predatory lending practices by a vote of 45 to 19. H.R. 3915, the “The Mortgage Reform and Anti-Predatory Lending Act of 2007” will create a licensing system for residential mortgage loan originators, establish a minimum standard requiring that borrowers have a reasonable ability to repay a loan, and will attach a limited liability to secondary market securitizers. The legislation will also expand and enhance consumer protections for “high-cost loans,” will include protections for renters of foreclosed homes, and will establish an Office of Housing Counseling through the Department of Housing and Urban Development.