Browsing: Banking

Bank of America’s Community Development Banking division has delivered a record $7.8 billion in financing for affordable housing and economic development initiatives in 2023. This investment includes $6.2 billion for affordable housing development, $1.1 billion for community facilities, and $500 million for small businesses in low-to-moderate income communities, with plans to increase financing to $8.5 billion in 2024.

Barclays Bank has resolved a significant online banking outage that temporarily prevented customers from accessing their digital banking services. The bank confirmed that all services are now ‘back up and running’ after several hours of disruption that affected mobile and online platforms.

Bank of America’s Community Development Banking division has delivered $7.8 billion in financing to support affordable housing and economic development in underserved communities across America. The financing includes $5.3 billion for affordable housing developments and $2.5 billion for community facilities, with the bank planning to increase its target to $8.5 billion next year.

Barclays Bank has resolved a major outage affecting its online and mobile banking services that left thousands of customers unable to access their accounts. The banking giant apologized for the disruption and has implemented additional system monitoring to prevent similar incidents in the future, while encouraging affected customers to contact customer service regarding any financial losses.

Veteran banker James Brixey is set to become the new CEO of Brownwood Banking, bringing his successful leadership approach from Katy Financial Services. Brixey plans to implement digital transformation initiatives while maintaining community-focused services to help the regional bank thrive amid industry challenges.

DBS Bank experienced a significant hours-long disruption to its digital banking and ATM services, affecting customers’ ability to access accounts and complete transactions. The outage has drawn regulatory attention, especially following similar incidents in the past year, and highlights the critical importance of reliable technology infrastructure in modern banking.

Walmart shoppers are being urged to check their bank statements after credit card skimming devices were discovered at multiple store locations across several states. Authorities believe the sophisticated skimming operation may have been active for up to a month, with confirmed incidents in at least five states. Customers are advised to monitor their accounts closely and report any unauthorized transactions immediately.

Former President Trump has indicated he is considering implementing significant sanctions and tariffs on Russia as a strategy to end the war in Ukraine. These potential economic measures could have substantial impacts on global markets, particularly affecting the banking sector, as financial institutions prepare for possible new sanctions regimes and resulting market volatility.

Former President Trump has indicated he is considering implementing significant sanctions and tariffs on Russia as a strategy to end the war in Ukraine. These potential economic measures could have substantial impacts on global markets, particularly affecting the banking sector, as financial institutions prepare for possible new sanctions regimes and resulting market volatility.