Aug 21, 2012 15:53
A Sageworks roundup of recent banking industry news you might have missed: State regulators “flex muscles” against banks ahead of feds; small biz key to mobile commerce; key Fed bank-lending program mostly served foreign banks-report.
State regulators “flexing muscles”
The Washington Post wrote recently about the trend of state regulators “flexing their muscles against big banks,” using state laws to act against some of the world’s biggest financial institutions. The newspaper described how the cases can generate big payments for states but can step on the toes of federal regulators who may also be investigating. Read the article here.
Mobile commerce drivers
Small businesses hold the key to broad-based mobile commerce, according to an industry consultant. McKinsey & Co. senior expert Dan Ewing writes in column for American Banker that bank, merchant acquirers and financial service providers hoping to capitalize on mobile commerce will need to show that it increases business, and they must make new applications easy to deploy. Read the article here.
Fed bank-lending program’s top customers
The vast majority of lending through the Federal Reserve’s Term Auction Facility between 2007 and 2010 was to foreign rather than U.S. banks, the Wall Street Journal reported recently. Citing a report by the National Bureau of Economic Research, the WSJ said the paper’s findings could irritate Fed critics who have complained that too much of emergency lending by the central bank went to non-U.S. entities. Read the article here.