Emerging Markets Hold Breath as E.U. Banks Shrink
From Beijing to Bucharest, emerging market policymakers are as worried as those in Brussels that the rapid contraction in western European banks' balance sheets will compound the debt crisis and further delay economic recovery.
Big Isn't Bad, U.S. Banks Tell Fed
The largest U.S. banks are accusing the Federal Reserve of attempting to misuse its new regulatory powers to shrink financial giants under the misguided belief that "big is bad."
Barclays, Credit Suisse Face Investor Backlash on Pay
More than a quarter of Barclays shareholders look set to vote against the British bank's controversial pay plan for bosses on Friday and Credit Suisse is also bracing for a backlash as
investors seek a greater share of profits.
Protesters Picket Wells Fargo Meeting, 24 Arrested
Police in riot gear arrested two dozen people on Tuesday as protesters with a huge inflated rat sought to disrupt a Wells Fargo annual shareholder meeting to express anger over foreclosures, executive compensation and corporate taxes.
Banks Can’t Afford to Be Afraid of Social Media
Banks ignore social media at their own risk. But effectively taking advantage of the ever-growing channel requires more than just setting up a placeholder presence — it requires true engagement and authenticity.
Bankers Should Do the Right Thing: Regulator
Bankers should "do the right thing" in salaries and service to clients and not be driven purely by the size of their pay packets, top UK regulator Hector Sants said on Tuesday in his last speech before standing down.
BofA $20 Million Settlement Called Inadequate
Bank of America Corp directors, who were sued by shareholders for allegedly paying too much for Merrill Lynch & Co in 2008, must defend a proposed $20 million
settlement of the claims in federal court in New York, court papers show.
Infosys Being Investigated by U.S. Homeland Security Dept.
Infosys, India's Number two software services exporter, is under scrutiny from the U.S. Department of Homeland Security for likely errors in employer eligibility documents of its staff working in the United States, the company said in a statement.
Oracle Probes Google Engineer About Key Email
A Google engineer,
testifying in a high-stakes trial pitting Oracle Corp against
Google Inc, denied that he referred to Oracle or any other
company when he wrote in an email that Google should take a
license to use the Java programming language.
Greek Banks to Show Pain of Bond Swap, Bad Loans
Greek banks will post big
losses for 2011 on Friday, as they will include the writedown on
government bonds suffered during last month's bailout deal for
the country as well as provisions for higher bad loans due to a
Citi's Pay Rejection a Wake-Up Call to U.S. Boards
Institutional investors are increasingly pressing boards to rein in outsized executive pay, and after Citigroup shareholders rejected a compensation plan on Tuesday, more directors may start listening.
Banks May Not Be Able to Resist 'Bring Your Own Device'
User-friendly consumer devices such as Apple's iPad increasingly are infiltrating the enterprise and transforming workforce expectations. Despite security concerns, employee demands and the productivity gains powered by bring-your-own-device initiatives are forcing banks to embrace BYOD.
Spain Banks' Bad Loans Highest Since 1994
Spanish banks' bad loans rose to their highest level since Oct. 1994 in February, to 8.2 percent of their credit portfolios, Bank of Spain data showed on Wednesday, as the sector continues to battle sliding house prices and a looming recession.
Jury Selection Starts in Oracle Vs. Google Trial
Jury selection in a high-stakes dispute over smartphone technology kicked off on Monday morning, in which Oracle Corp accuses Google Inc's Android operating system of violating Oracle's patent and copyright for the Java programming language.
BofA CIO Gordon Resigns
Marc Gordon, who has been with the company since 2004 cited a "personal change of direction" for the move.
Spain Pushes Banks to Pay For Sector Clean-Up
Spain needs at least 20 billion euros ($26.35 billion) to secure the sale of three bailed-out banks and wants the rest of its hard-pressed banking sector to provide the cash in order to avoid putting more taxpayer money into the industry.
Top Quotes of The Week From The Banking Industry
There's never a dull moment in the financial services world, and this week was no exception. Lawsuits, bank capital and student loans were among the hot topics of the week — with a dash of regulation thrown in as well for good measure. Here are Bank Systems & Technology's picks for the quotes of the week in the banking industry.