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- OCC Ends 2020 Capital One Consent Order
By: Ken Chase. The U.S. Office of the Comptroller of the Currency OCC announced this week that it has terminated a 2020 consent order related to a 2019 Capital…
- OCC Ends 2020 Capital One Consent Order
By: Ken Chase. The U.S. Office of the Comptroller of the Currency OCC announced this week that it has terminated a 2020 consent order related to a 2019 Capital…
- Recession Evidence? Revised Gross Domestic Income Figures Paint Even Gloomier Picture of U.S. Economy
By: Ken Chase. When U.S. officials confirmed that the economy had contracted in the second quarter of 2022—the second consecutive quarter of negative…
- SEC Fines Morgan Stanley $35 Million for Data Security Failures
By: Ken Chase. The U.S. Securities and Exchange Commission confirmed this week that it has levied a $35 million penalty against Morgan Stanley Smith Barney…
- Six Major Banks to Participate in Fed’s Climate Scenario Analysis Exercise
By: Ken Chase. The Federal Reserve confirmed Thursday that it has recruited six of the largest U.S. banks as participants in its planned climate scenario…
- Deposits matter.
Deposits matter. An experienced chief risk officer told me once, "Deposits are the inventory of banks." A good friend and business partner in the retail…
- “You took your family on a month-long trip to Turkey? That sounds like an expensive proposition. I can’t even take my kids to Disney World.”
“You took your family on a month-long trip to Turkey? That sounds like an expensive proposition. I can’t even take my kids to Disney World.” I have heard that…
- OCC to Cut Bank Assessment Fees by 40% in 2023
By: Ken Chase. The Office of the Comptroller of the Currency recently confirmed that the OCC will be cutting assessment rates for all banks next year in a move…
- Two Major U.S. Banks End Employee Vaccine Requirements
By: Ken Chase. Two of the largest U.S. banks have formally ended their Covid-19 vaccine requirements for employees in the last week, in a nod to the most…
- Last week I made a bold prediction
Last week I made a bold prediction ⅓ less banks in the US in 10 years. On Monday I started the list and here are a few more types of banks will cease to exist:…
- Last week I made a bold prediction
Last week I made a bold prediction ⅓ less banks in the US in 10 years. So which ones are going away? I believe the following types of banks will cease to…
- 10 years from now, there will be ⅓ less banks in the US than there are today.
10 years from now, there will be ⅓ less banks in the US than there are today. Bold prediction? About as bold as the trend from the past 20 years. 20 years ago…
- Citi and Wells Fargo Announce Cuts in Mortgage Lending Staff
By: Ken Chase. In the last several weeks, Wells Fargo has confirmed that 75 workers in its Iowa branches will no longer have jobs as of late October. Now, Citi…
- Got an interview coming up?
Got an interview coming up? Here is the framework my father taught me to prepare for any interview. It even works to evaluate whether this is a job you should…
- I was backing uphill into a parallel parking spot on an extremely steep hill in the middle of Istanbul.7 people were crammed into a Mercedes Vito van on our last day of a 37-day adventure with my family. I asked myself, “How did I get here?” But I knew exactly how it happened.
I was backing uphill into a parallel parking spot on an extremely steep hill in the middle of Istanbul.7 people were crammed into a Mercedes Vito van on our…
- Rick jumped into my office
Rick jumped into my office - “Brian do you have a copy of the incentive compensation plan?” I quickly said, “No, I think James was gonna send that to me.”…
- Rick jumped into my office - “Brian do you have a copy of the incentive compensation plan?” I quickly said, “No, I think James was gonna send that to me.”
- Fed Chief Vows to Continue Fight to Halt Inflation, Warns of Economic Pain
By: Ken Chase. In his annual speech in Jackson Hole, Wyoming last week, Federal Reserve…
- FedNow Real-Time Payment System Expected to Launch By Mid-2023
By: Ken Chase. Federal Reserve Governor Michelle Bowman recently revealed that the Fed expects its FedNow real-time payments system to be ready and available…
- U.S. Bank Announces Another Increase in Employee Base Pay
By: Ken Chase. In June 2022, U.S. Bank increased its employee base pay rate from $15 per hour to $18. Last week, the Minneapolis-based bank announced that it…
- New Poll Finds Consumers Focused on Security and Identity Fraud Protection When Choosing Banks
By: Ken Chase. A new survey from Verint /images/VXI-Banking-report-2022.pdf found that consumers are increasingly focused on the security of their personal…
- Met with over 200 oil & gas guys in Oklahoma in the past 9 years.
Over 9 out of 10 of them take their wealth and invest in real estate and a BANK. Why a bank? Bank investment returns suck relative to oil & gas + real estate…
- CFPB Circular Emphasizes Banks’ Responsibility to Protect Customer Data
By: Ken Chase. In a new circular…
- JD Power Study Finds Decline in Credit Card Spending
By: Ken Chase. In its most recent U.S. Credit Card Satisfaction Study, J.D. Power found that the overall share of U.S. consumer credit card spending declined…
- FDIC Announces Increased Focus on Lenders’ Commercial Real Estate Loans
The Federal Deposit Insurance Corp. FDIC announced last week that its next test cycle will expand scrutiny old bank-held commercial real estate loans. In a…
- March 24, 2008, I walked into the first bank I ever worked in. Bear Stearns was on the brink of bankruptcy. Countrywide had been purchased for $4B in stock from Bank of America in January.
March 24, 2008, I walked into the first bank I ever worked in. Bear Stearns was on the brink of bankruptcy. Countrywide had been purchased for $4B in stock…
- Amid Wall Street Turbulence, Johnson Associates Forecasts Job Losses and Bonus Reductions for Financial Industry
By: Ken Chase. In a new report released on August 4, compensation consultancy firm Johnson Associates predicted potential job losses and bonus reductions for…
- Goldman Sachs Reveals CFPB Investigation Into Firm’s Credit Card Practices
By: Ken Chase. Goldman Sachs has revealed that the Consumer Financial Protection Bureau CFPB is currently investigating the company’s credit card practices.…
- U.S. Bank Fined $37.5 Million for Fake Customer Account Violations
By: Ken Chase. The Consumer Financial Protection Bureau announced…
- West Virginia Bans Five Financial Giants Over Alleged Boycotts of Energy Industry
By: Ken Chase. The state of West Virginia has barred five of the largest financial firms from conducting new business with the state, after the state…