#FDIC Chair #MartinGruenberg will resign after an outside report found #evidence of a “misogynistic” & “patriarchal” culture at the #banking regulator. #Gruenberg… announced Mon he would resign once President #Biden appoints & the Senate confirms a successor….
An independent investigation led by an outside law firm found rampant instances of #abusive workplace conduct…, incl’g #SexualHarassment, #stalking & inappropriate supervisor-subordinate relationships….
“Marty, you’ve heard me say this to you directly: You should resign,” Sen #TimScott (R-SC), the top #Republican on the #Senate#Banking Cmte, said. “Your employees do not have confidence in you. And this is not a single incident. This spans over a decade+ of your leadership at the #FDIC.”
Sen #SherrodBrown (D-OH), chair of the Banking Cmte, called on Mon for “new leadership” at the FDIC to “fix the agency’s toxic culture & put the women & men who work there —& their mission— first.”
Are US bank failures going the way of our mass shootings?
"Monday’s shutdown marks the nation’s second-largest bank failure — First Republic Bank had nearly $230 billion in assets last month — eclipsing the Silicon Valley Bank collapse."
THREE OF THE FOUR LARGEST BANK FAILURES IN US HISTORY HAVE TAKEN PLACE OVER THE LAST 2 MONTHS.
does anyone know of any description of the privacy characteristics of ACH bank transfers? do ACH transfers leave customer-level data with clearinghouses or other parties outside of the participating banks? how do the privacy characteristics of ACH compare with those of something like the upcoming FedNow?
(thanks @chrisp for posing this question, to which i'd given oddly little thought.)
💬 Banks Fined $549 Million Over Use of WhatsApp and Other Messaging Apps
「 The S.E.C. charged the financial institutions for failing to properly "maintain and preserve" all official communications by their employees. Federal securities laws require banks and investments firms to maintain records and make sure their employees are not conducting company business using unauthorized means of communication 」
I've been real happy with Wealthfront up until now. Undermining 2FA App security by enabling SMS hijacking capability is so universally stupid.
To then enable it by default and make users opt out is...whew.
I've emailed their support and asked that they share my concern with their management and security team. They've traditionally been very responsive. We'll see if they come through once again.
#canada#banking#RBC
Just tried to do etransfer via web browser on laptop. Usually no issues. Today it failed with this message: "Something doesn't seem right. Sorry we are having some technical issues. Please try again later..." So I tried again. Same error. I suspected a cookie issue. Sure enough RBC now uses a 3rd party cookie "scorecardresearch" which I prevent in browser. When I allow 3rd party cookies - everything works. 😡
Why is RBC using a tracker on my etransfer?
"Yet the FDIC continues to show a hesitance to impose harsh discipline on managers accused of misconduct, employees said.
Female examiners left the FDIC because of what they say was a sexualized, boys’ club environment and the belief they were consistently given fewer opportunities than their male counterparts, according to interviews with more than 100 current and former employees, including more than 20 women who quit."
psa to anyone with a #citibank account, they've introduced this new "simplified banking" thing that works out to a) zero interest on checking accounts b) new fees
The fact my deposit is being held and I am probably going to be charged overdraft fees for the two days I am waiting for the deposit to clear makes me want to die.
My opinion... PayPal sucks.
High fees, then they charge you extra to get your money right away instead of in 3 - 5 days.
Why does the US Banking system not have e-transfer yet? Is there any good way for someone in the USA to send money to someone in Canada that is free?
#Labour have hit upon a policy which will popular in areas like this, where there has been a general exodus of #banks & #banking services... #RachelReeves is taking about accelerating the roll our of 'banking hubs' that deliver services for a range of banks.
The #Tories want to know how it will be paid for but this is one thing the banks should be doing as part of their service commitment & should be made mandatory so as to avoid 'banking deserts'.
The chickens are coming home to roost. A short article that discusses the very likely problems that climate change will induce in the banking industry. That is the one that has colluded in much of the damage that has and is being done at the moment.
When the UK’s deputy foreign secretary has to admit that around 40% of all money laundered globally likely flows through London & the Crown Dependencies, you can bet that such an estimate will be on the low side.
There are many reasons that the UK's global reputation is increasingly tarnished & the work in financial services to hide & process criminal/illegal funds is contributing to that malaise.
So much for the value of financial services to the UK
🚨 ⚠️ 🚨 ⚠️ 🚨 ⚠️
Here is yet another example as a reminder:
If your bank "contacts you" DO NOTHING until you have phoned your bank to check on the validity of the contact.
🎂 NGI TALER's amazing partner, @glsbank is turning 50 and they celebrate half a century of socio-ecological #banking on the 1st and 2nd of June at #Bohum!
💡On Sunday at 12:00 CEST, don't miss the workshop organised by @leoo under the title "Wer weiß, was du kaufst? Datenflut beim Bezahlen" presenting the unique benefits of @Taler for #privacy preserving digital payments based on #libresoftware !
'The Diverse Investing Collective has launched a data dashboard that measures how much money is in the hands of gender-diverse and racially diverse portfolio management teams.... The initial version of the dashboard focuses on gender and a second version that will provide data on race and ethnicity in addition to gender will be released later in 2024.'
🎂 NGI TALER's partner, @glsbank, turned 50 & celebrated half a century of socio-ecological #banking last weekend at Bochum!
💡 On Sunday, @leoo presented the workshop "Wer weiß, was du kaufst? Datenflut beim Bezahlen", tracking the path of our #data when we conduct #digital payments! The workshop used the @Taler project as an example to show that there is #another, #better, #privacy#preserving way, built on #free#software!
🚀 It was amazing to have a full house and hear wonderful comments!