banks News

Zurich Expands Community Banking Products to Zurich Agency Services Agents

Zurich is now working with Zurich Agency Services, Inc., to expand its community banks offering additional agents and brokers. As part of this effort, Zurich worked with ZAS, formerly Universal Underwriters Insurance Services, Inc., to develop an online portal that …

Lawsuits Cast Darker Shadow Over Banks Than Libor Fines

While banks appear to be brushing off record fines for rigging interbank interest rates, investors are starting to worry about a rising tide of civil lawsuits from disgruntled customers. UBS shares touched 18 month highs after U.S., Swiss and British …

Chubb Launches Cyber Endorsement Addressing Bank Account Takeover Frauds

The Chubb Group of Insurance Companies has launched a new endorsement to help protect community banks from a more than three-fold increase in fraudulent online commercial transactions. The new endorsement to the ForeFront Security by Chubb Community Bank Bond expands …

UK Business Group Calls for Limit to PPI Compensation – Report

Britain’s government needs to limit compensation paid to customers mis-sold loan insurance, John Cridland, director-general of the Confederation of British Industry, wrote in the Times on Monday. The head of Britain’s biggest business lobby group wants the government to introduce …

IMF Urges Permanent Fix to U.S. ‘Fiscal Cliff’

The International Monetary Fund on Thursday urged the United States to quickly reach an agreement on a permanent fix to avoid automatic tax hikes and spending cuts early next year, saying a stop-gap solution could be harmful to the global …

Bank Holding Cos. Set Record in Insurance Brokerage Fee Income: Report

Bank holding companies (BHCs) set new records in insurance brokerage fee income in the second quarter and year-to-date (YTD) in the first half of 2012. According to the Michael White-Prudential Bank Insurance Fee Income Report, bank holding company insurance brokerage …

Barclays Bank Shows Retail Intent with Takeover of ING Direct

Barclays’ new chief executive set the course firmly towards retail banking on Tuesday with his first deal since replacing Bob Diamond – the takeover of ING’s British savings and loan business and its 1.5 million customers. Antony Jenkins, previously head …

Bank Group Warns of Heightened Risk of Cyber Attacks

A financial services industry group warned U.S. banks, brokerages and insurers on Wednesday to be on heightened alert for cyber attacks after Bank of America and JPMorgan Chase experienced unexplained outages on their public websites. The Financial Services Information Sharing …

Commentary by Gordon Brown:* Europe Risks Going the Way of Japan

The good news is that Europe is no longer going the way of Greece. The sad news is that it is threatening to go the way of Japan. After years of hesitation punctuated by panic, Europe has finally accepted the …

Cyber Surveillance Virus from Mideast Can Spy on Bank Transactions

A new cyber surveillance virus has been found in the Middle East that can spy on banking transactions and steal login information for social networking sites, email and instant messaging, according to a leading computer security firm, Kaspersky Lab. Dubbed …