Banking

1:02am

Fri June 22, 2012
All Tech Considered

Your New Digital Wallet: In The Cloud But Still Tethered To Fees

Originally published on Tue October 16, 2012 2:38 pm

David Marcus, president of PayPal, unveils PayPal Here in San Francisco in March. The service allows customers to use their smartphones to pay for purchases at retail stores.
Kim White AP

Tech companies from Seattle to Silicon Valley, intent on transforming how we shop, have set their sights on the electronic payments industry.

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4:00pm

Thu June 14, 2012
The Two-Way

Statisticians: Don't Rob A Bank; It's Not Worth It

Originally published on Thu June 14, 2012 4:04 pm

Bonnie And Clyde: Happily ever after? Maybe not so much.
AP

It was a scenario many have imagined: Retiring to a lonely beach in Mexico after a few minutes of a heart-pounding crime — like Bonnie and Clyde riding into the sunset with a good stash of money attained through a handful of bank heists.

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10:49am

Wed June 13, 2012
The Two-Way

JPMorgan Execs Who Bungled Billions May Have To Return Bonuses, Stock

JPMorgan Chase CEO Jamie Dimon during his testimony today on Capitol Hill.
Mark Wilson Getty Images

Along with saying, again, that his bank "let a lot of people down" when it lost more than $2 billion, JPMorgan Chase CEO Jamie Dimon added this prediction during his testimony before the Senate Banking Committee this morning:

"It's likely that there will be clawbacks."

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3:03am

Wed June 13, 2012
Planet Money

Spain's Bank Matchmaker On What Went Wrong

Originally published on Mon July 9, 2012 6:55 pm

Angel Borges, matchmaker.
Chana Joffe-Walt NPR

A couple years ago, Spain hatched a plan to help its small, regional banks. The banks, called cajas, had made lots of bad loans during Spain's real estate bubble.

The plan: Merge the bad cajas with the good ones, in order to make the losses more manageable and bring down overhead.

The government brought in Angel Borges, a banking consultant from Madrid, as a sort of yenta — a matchmaker who was supposed to help the cajas get together.

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5:05pm

Tue June 12, 2012
The Two-Way

Dimon Will Tell Congress JPMorgan 'Let People Down' With Trading Loss

Originally published on Wed June 13, 2012 8:00 am

JPMorgan Chase Chief Executive Officer Jamie Dimon.
Mario Tama Getty Images

"This portfolio morphed into something that, rather than protect the firm, created new and potentially larger risks. As a result, we have let a lot of people down, and we are sorry for it."

That's part of JPMorgan Chase President and CEO Jamie Dimon will tell the Senate's Committee on Banking, Housing and Urban Affairs tomorrow, when it looks into the botched trades that lost the bank $2 billion. Chase released Dimon's prepared remarks this afternoon.

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