Banking and Lending

Mobile Money in China: Disruption at Scale

In about 10 years’ time, a completely new payment model built around QR codes has become the dominant payment alternative for the world’s most populous country – China.

Citigroup Hires Three Software Investment Bankers

Citigroup Inc. has hired three investment bankers for its technology investment banking group focused on software in the United States and in Europe, according to a memo published internally at the bank and confirmed by a spokeswoman on Monday.

Bank Manager Admits Embezzling $879K from CD Accounts

Bank Manager Admits Embezzling $879K from CD Accounts

Stephen Carbonella, 59, of Hamden, plead guilty yesterday in Hartford federal court to embezzling funds from his employer, Webster Bank Corporation, where he served as bank manager of the Orange branch office.

Torrington Savings Bank Appoints New Vice Chairman

Torrington Savings Bank Appoints New Vice Chairman

Charles E. Roraback has been appointed vice chairman of the Torrington Savings Bank board of trustees. He has been a corporator of Torrington Savings Bank since July 1997 and joined the board in February 2007.

Banks’ Readiness for B2B Real-Time Payments

Banks hesitate to make a large technology investment to accommodate a new payment workstream without fully understanding the market demand and having a realistic expectation for adoption.

Goldman Banker Had Raised Ethics Concerns

A former Goldman Sachs Group Inc. partner had raised concerns about some unethical practices at the bank before he left in 2015, the New York Times reported on Tuesday, citing people close to the matter.

Poll: Many Community Banks Lack CECL Task Force

Nearly half of community banks in the U.S. have not formed a task force for implementing current expected credit loss accounting standards, which is expected to take effect in just two years.