banking Archives - The Industry Spread

MasterCard Partners With Retailers for Adopting Pay by Bank App

MasterCard, the US based payment and financial services provider has struck a deal with four UK based ecommerce retailers to offer a new payment solution created by its wholly owned subsidiary Vocalink. The service – Pay by Bank App is a new feature which will be made available via the retailer’s payment page and is a secure and easy way for customers to pay from their current bank account using their trusted banking app.

Federal financial regulatory Agencies Finalize Changes to Simplify Volcker Rule

Five federal financial regulatory agencies on Tuesday announced that they finalized revisions to simplify compliance requirements relating to the “Volcker rule.”  By statute, the Volcker rule generally prohibits banking entities from engaging in proprietary trading or investing in or sponsoring hedge funds or private equity funds.

Mode Launches Crypto Banking Mobile App

London-based fintech firm has opened a waiting list for its soon-to-be-launched crypto banking mobile app.  Mode aims to bring down barriers and open up the world of cryptocurrencies to everyone, not just the tech-savvy and the traders.

SEC Names Sean Memon as Chief of Staff

The Securities and Exchange Commission today announced that Sean Memon will become the agency’s Chief of Staff. Mr. Memon has served as the SEC’s Deputy Chief of Staff since May 2017.  In that capacity, Mr. Memon has served as a senior advisor to Chairman Clayton on legal, policy and management matters affecting all aspects of the agency’s mission, including rulemaking, enforcement, examinations and internal agency operations. 

UK’s TSB Bank Appoints New COO and Customer Banking Director

UK based TSB bank, the banking division of Spanish Sabadell Group which caters to both retail and commercial clients in England, Scotland and Wales has appointed new COO and Customer Banking Director. Post its IT fiasco in early 2018 which resulted in the bank losing over 330.2 Million British Pounds and loss of business with over 80,000 clients – the bank has been making many changes to their business operation procedure and in top level management which continues to this day.

SEC and CFTC Participate in the Signing Ceremony for the IOSCO Enhanced Multilateral Memorandum of Understanding Concerning Cross-Border Enforcement

At the 44th Annual International Organization of Securities Commissions (IOSCO) Conference in Sydney, Australia, the Chairmen of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission (CFTC) participated in a signing ceremony on May 15 for the IOSCO Enhanced Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (EMMoU).

Radoslav Milenkov: Banking supervision priorities

Publication of Mr Radoslav Milenkov, Deputy Governor (in charge of the Banking Supervision Department) of the Bulgarian National Bank, in the Quarterly Bulletin of the Association of Banks in Bulgaria, issue 57, April 2019.

Italian Lender UniCredit Sells Its Stake in Fineco Bank Once Again

Italy’s largest lender UniCredit is selling its stake in its online broker business Finecobank yet again in a bid to seek more capital. According to statement released by the lender yesterday, the firm is selling 17% stake in its online broker business which is nearly half of its 35.35% stake the lender currently owns.

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