Employment Growth Is SlowingEvery month, usually on the first Friday of the month, the Bureau of Labor Statistics issues what it calls the Employment Situation Summary. It's a data-rich snapshot of hiring, pay, and civilian employment -- and unemployment -- for the previous month. It's a closely watched report by economists, policymakers, investors and analysts, among others; it has the power to move the financial markets.Read the rest of this entry »
As headline making as the monthly reports ...
What's Fintech All About? Here's a PrimerFintech, a word that didn't even exist until late in the last decade, is now the hotest buzzword in the financial industry. It may not yet be a household term, but as a Bloomberg report says, "fintech has become shorthand for a digital revolution that could sweep away antiquated banking practices."Read the rest of this entry »
From a consumer perspective, this revolution has enabled mobile banking, online money management and is simplifying consumer lending ...
Bank Tests Fully Automated BranchesThe Bank of America is testing fully automated branches, that, if successful, could replace the tellers, cashiers and managers that staff a typical branch.Read the rest of this entry »
Three branches in Denver and Minneapolis have ATMs and video-conferencing that enable customers to speak with bankers located in remote centers. For now, each site has an on-site staffer who can assist customers.
Discussing the experiment, Dean Athanasia, co-head of consumer banking, said, "We want ...
Economists Speculate Trump Policies Could Force Fed Rate HikesThe Federal Reserve held off hiking interest rates during its first meeting of the year that ended this week, but economists and financial managers expect that will happen at the Fed's next meeting in March.Read the rest of this entry »
At its December meeting the Fed signaled there could be three rate hikes in 2017. That was only a projection; much depends on national and global economic conditions.
Now, analysts are weighing an additional ...
Why Is Warren Buffett Buying Stocks?What does Warren Buffett know that the rest of us don't? Plenty, when it comes to investing. So when the Oracle of Omaha goes on a stock buying spree, it makes news.Read the rest of this entry »
Talking with Charlie Rose last week, Buffet revealed he bought $12 billion of stock for his company Berkshire Hathaway since the election. Now that's a goodly sum, accounting for better than 11% of the company's ...
Fintech Is Making Small Banks Look BigYou love your community bank for its personal touch, that it offers free special services like notarizing documents and really free checking, even free checks. And the customer service makes banking pleasant.Read the rest of this entry »
But when it comes to doing business online, well, that's not where community banks shine. That's beginning to change now, as community banks look to fintech to help them offer the kinds of digital services and ...
Funds In Private Tech Growth Class See Capital InfluxTech-focused venture capital is growing fast in the U.S. -- from raising $11 billion in 2009 to $41 billion last year. Including private technology growth investors, the sector is on track to raise more than $50 billion this year.Read the rest of this entry »
A new report from SharesPost, an investment advisory service, says that coincidentally with the rise in funds, private tech companies have been growing their capital needs, raising more than $200 billion ...
It Doesn't Matter Who Wins, the Fed Is In ControlWhen it comes to the nation's financial policy it doesn't matter who wins the presidential election, Janet Yellen and her Federal Reserve Governors will be the center of attention.Read the rest of this entry »
Because of gridlock in Congress, Modern Trader magazine expects financial policy will be up to the Federal Reserve, just as it's been for the last several years.
In a scathing article that criticized the Fed's monetary policies ...
AI Technology is Helping Banks Personalize ServiceFinancial institutions are turning away from the traditional standardized list of products in favor of customer-facing services that are customized or customizable to the individual.Read the rest of this entry »
How are they managing to provide individualized advice to such thorny questions customers ask as "How much money will I need for retirement?" and "Where should I invest to achieve my goals?"
Technology. And more specifically, the increasingly sophisticated artificial intelligence tools that offer help ...
Bank Behavior Little Changed, Says Fed GovernorThe Wells Fargo scandal that resulted in a $185 million fine against the giant bank shows little has changed in the industry since the 2008 financial crisis, said a member of the Federal Reserve Board of Governors.Read the rest of this entry »
"I don't think (bank behavior) has changed enough," Daniel Tarullo said in an interview with CNBC.
"There is a need for a focus on individuals as well the fines on institutions. In ...