editor's corner

  • Santander is third bank to agree to ease screening of new account applicants

    Santander N.A. became the third bank to agree to loosen applicant screening for new account openings, and reports suggest more agreements will likely be forthcoming. The agreements forged with NY Attorney General Eric Schneiderman's office come as the attorney general has been investigating whether overly strict use of applicant screening technology unfairly denies low-income applicants banking services for relatively minor infractions.

RBS largely exits global investment banking

Facing another multi-billion pound loss, Royal Bank of Scotland announced that its investment bank will cut 60 percent of assets and exit most international markets.

JPMorgan to streamline branch network, large deposits and technology and operations

JPMorgan Chase plans to cut hundreds of branches, shed $100 billion in deposits, and rationalize technology and operations in its investment bank as part of a comprehensive plan to streamline the company. The measures, unveiled at the bank's Investor Day presentation this week, may bolster its argument that it can be more efficient and profitable as one company rather than split up as some analysts have suggested.

Softcard acquisition joins former competitor Google to face Apple

Softcard's announcement early this week that Google had acquired it merges two of the earliest competitors in U.S. mobile payments to face the powerful late entrance from Apple Pay. It also gives Google strong connections to all four major U.S. wireless carriers.

Data company's reinvention with conceptual search aims to aid search for alpha

In the hunt for alpha, one organization is betting it can find insight by looking at companies in new ways and through new categories. Avention, formerly known as OneSource, is a big data vendor that reinvented itself last year by relaunching under a new name along with new tools for searching, defining and configuring the types of data it has been selling for decades.

BlackRock launches smart beta bond ETF

BlackRock Inc. is launching its first smart beta bond exchange-traded fund (ETF), which will adjust the holdings of a bond index ETF so that overall credit risk and interest rate risk are equally...