Banking

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Canadian banks support disabled customers

The financial industry prioritizes privacy and security, and also every customers' needs.

By Staff |February 27, 2013

2 min read

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Economic Indicators

U.S. banks report second best profits ever

U.S. banks reported net income of $34.7 billion in the fourth quarter of 2012, a 37% improvement from Q4 2011, finds the Federal Deposit Insurance Corporation (FDIC). And for the full year, industry earnings totaled $141.3 billion, the second highest ever reported by the industry after the $145.2 billion earned in 2006. Read: JPMorgan’s earnings […]

By Staff |February 27, 2013

2 min read

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Economic Indicators

Canadian banks need reforms to stay strong: PwC

Canadian banks clocked an impressive 2012, but also face upcoming growth challenges.

By Staff |February 25, 2013

2 min read

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Citigroup has new pay plan for executives

Citigroup’s executives may have to work a little harder. The bank revealed a new pay plan that ties remuneration to preset goals and targets. Executives will get 40% of awards in cash, 30% in deferred stock and 30% in performance share units, reports ft.com. Read more. Also read: Former Citi star joins RBC Citigroup fined […]

By Wire services |February 22, 2013

1 min read

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JPMorgan under pressure to name independent board chair

A coalition of investors that controls over 16 million shares, worth $829 million, is calling on JPMorgan Chase to name an independent board chair. The decision of investors, including the AFSCME Employees Pension Plan, the Connecticut Retirement Plans and Trust Funds, Hermes Equity Ownership Services and the NYC Pension Funds, to jointly file the proposal […]

By Staff |February 21, 2013

2 min read

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Economic Indicators

Eurozone companies tap bond market for funding

Businesses across the Eurozone are compensating for the slack in the banking sector by piling into the bond market. Debt issuance has seen a record start to the year as businesses cut back their reliance on ailing banks for loans, reports FT.com. Weak bank lending to the region’s businesses and households has been fuelling concern […]

By Staff |February 13, 2013

1 min read

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CFIB hails fixes to unfair credit card practices

The Canadian Federation of Independent Business (CFIB) welcomes today’s decision by the Financial Consumer Agency of Canada (FCAC) to clarify and strengthen rules that prevent some unfair practices in the credit card industry. The FCAC has clarified rules around the application of the Code of Conduct for the Credit and Debit Card Industry in Canada […]

By Staff |February 13, 2013

2 min read

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Economic Indicators

Claims of global currency war are unfounded

There are fears that the issue of currency wars may get undue attention at this week’s Group of 20 leading nations meeting in Moscow. Philipp Hildebrand, former chairman of the Swiss National Bank, urges participants in an opinion piece in FT.com to refrain from fanning the currency debate. He argues there is no such thing […]

By Staff |February 12, 2013

1 min read

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Safety rules hamper small U.K. banks

The new lending rules aimed to reform the U.K. banking sector are hurting small lenders who find themselves at a disadvantage compared to their bigger rivals. These rules insist banks use their loan databases to create internal models to measure the riskiness of individual loans, reports FT.com. Compliance to these rules is rewarded with lower […]

By Staff |February 12, 2013

1 min read

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Barclays allocates $1.6bn to pay penalties

Barclays has decided to create a $1.6 billion reserve to fund legal costs of scandals related to mis-selling financial products. The Financial Services Authority recently ordered Britain’s four big banks to review their sales of interest rate hedging products, forcing Barclays, one of the four, to double the money set aside for potential payouts, reports […]

By Staff |February 5, 2013

1 min read

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