BankNewswatch

Covering the Banking Industry and its Regulation

Fed hawkishness prompts HSBC to raise 10-year Treasury yield target

The firm expects 10-year Treasury yields to end 2024 at 3%.

German Finance Chief Sees Slow Progress on EU’s Banking Union

German Finance Minister Christian Lindner signaled that Europe is unlikely to take rapid strides on forging closer ties between its fragmented banking markets, underlining his country’s hesitance about a project that bankers argue is crucial for cross-border mergers.

Varo aims to displace Venmo, Cash App volume with new P2P feature

The bank on Thursday is launching a feature enabling Varo account holders to instantly transfer funds at no cost to anyone with a U.S. debit card.

Federal Reserve Holds Rates Steady But Eyes Future Hike

Fed retains current rate between 5.25%-5.5%; Housing market may see a shift as inflationary pressures are monitored and policy adjustments are made.

Medical debt removed from credit reports in Colorado

Colorado is the first state to establish a law to change how medical debt is viewed on credit reports and experts say it's up to consumers to make sure their credit report is accurate.

All Medical Debt Could Soon Be Removed from Credit Reports

The government’s consumer watchdog has begun a process to remove medical debt from credit reports.

College Tuition Payment Plans Can Stick Students With Exorbitant Fees: Report

The Consumer Financial Protection Bureau (CFPB) identified a number of flaws and risks with college tuition payment plans in a new 35-page report.

JPMorgan Chase has now closed 12 First Republic Bank branches in Bay Area

JPMorgan Chase, which acquired First Republic Bank in May after the embattled San Francisco lender failed, has now closed 22 First Republic branches, including a dozen in the Bay Area.

Amidst Economic Uncertainty, This Startup Is Helping Businesses Put Their Idle Cash To Work

We automatically create a portfolio of highly liquid, fixed-income instruments – typically consisting of short-term U.S. Treasuries, Money Market Funds and Cash Sweeps – always prioritizing safety and liquidity, with the goal of delivering great yields for our customers.