Spike in Fake ID Schemes Confounds Banks' Fraud Filters
Fake identity fraud is growing, due to the plentiful array of consumer account and card data available in the wake of massive data breaches. It's a crime banks find almost impossible to detect and deter
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FINRA banned a rep for allegedly forging a customer's signature on bank withdrawal slips, a move that allowed the customer's sister to steal $3,900 from the customer's account. Two others were suspended for relatively minor infractions. more »
City National's sale to RBC bestows new wealth on two men who have served as Hollywood's private bankers since Steven Spielberg filmed "Jaws." more »
BB&T and KeyCorp's quarterly results showed how more diversified regional banks can turn to their insurance sales, investment banking and other fee generators for backup until interest rates improve. Whereas the smaller Huntington Bancshares needed strong loan growth in a quarter (and year) when fees fell. more »
Royal Bank of Canada sold its U.S. retail bank a few years ago to PNC. The company is back with a targeted play: City National, a Los Angeles bank that has built its business targeting the rich and working with Hollywood. more »
Royal Bank of Canada is ready to take another shot at U.S. banking, agreeing to buy City National in Los Angeles. more »
Two advisors left Barclays to join regional bank First Republic. more »
The president used his annual speech before Congress to defend Dodd-Frank while pleading that lawmakers pass cybersecurity legislation. more »
The Birmingham, Ala.-based bank generated $91 million in fourth-quarter revenue from its brokerage, trust and insurance services operations, up 8.3% year-over-year. more »
Customer alleged that broker made unsuitable recommendations of mutual funds, structured products and equities that set him back more than $125,000. more »
The bank's brokerage services generated $64 million in fourth-quarter revenue, up 12% year-over-year. more »
The $47 million year-over-year decline was due to foregone revenue resulting from the sale of asset management firm RidgeWorth Capital Management in the second quarter of 2014. more »
Citigroup plans to shed 60 branches as part of its ongoing restructuring, a number of which are said to be in California. It shopped some of the California branches last year, and it may again try to sell some of them. more »
Bank of America's expenses still far exceed those of JPMorgan Chase and Wells Fargo, so analysts were clearly disappointed Thursday when CEO Brian Moynihan failed to outline any specific plans for further lowering overhead. more »
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