Category: FinCom

The Durbin Amendment and Digital Banking

One of the most controversial—or at least most recently mediafied—portions of last year’s Dodd-Frank Wall Street Reform and Consumer Protection Act was built in Illinois, if not Chicago itself. The "Durbin Amendment," introduced by our own Senator Richard Durbin (D-IL), has raised more recent rancor in the banking industry than just about any other provision of the massive reform bill.
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An Uneven and Unreliable Economic Recovery

Recent economic reports present a mixture of disregard, denial, and disinterest. The Bureau of Economic Analysis reported GDP growth of 1.8%. The Economist wrote about how debt problems are constantly explained away and asked on its April 28, 2011 cover, “What’s wrong with America’s economy?” The Chairman of the Federal Reserve held a first-ever press conference that one writer tagged as “the message was  [...Continue Reading]
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CRE Risks and Other Bank Stability Indicators

In February 2011, economists told us that the Great Recession is receding, if not over. If many consumers—and their banks—still feel mired in that same recession, at least the fiscal crisis of 2008 is history. The markets are stable, business profits are up, employment is improving, and it looks like the free fall in real estate values for homes, office buildings, hotels, and shopping  [...Continue Reading]
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Notes on China’s Economy Today

Inflation is the top economic concern of the Chinese government, said Kok-Chi Tsim, Managing Director and Senior Relationship Executive at JPMorgan Chase Bank, Chicago. He spoke March 30 at the monthly luncheon of the Economic Development Council of Chicago on “China’s Economic and Business Environment.” The concern for inflation flows from one underlying economic fact: “China is a rich country with still a lot  [...Continue Reading]
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MOBILE PAYMENTS: Desire, Fear, and Other Commercial Conundrums

Mobile commerce is still an emerging market in search of itself, with both the boosters and skeptics commenting in recent weeks. The swirl of news and surveys illustrates the tensions between tradition and innovation that mark the new-technology dance of entrepreneur demand creation and consumer desire fulfillment. A Big, Fat Cloud In a study that articulates demand for mobile phone payments, Accenture says that  [...Continue Reading]
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Chicago Payments Information Exchange (CPIX) Group Forms on Built in Chicago Community

The Chicago Payments Information Exchange (CPIX) is live on the Built in Chicago. The group’s purpose is to build on Chicago’s history of innovation in payments and create greater visibility for this financial technology market. Built in Chicago is a fast-growing community that serves as a “resource for digital professionals working to build great web and mobile businesses and mind-blowing user experiences.” For details,  [...Continue Reading]
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Payments Standards: A Dispatch from Sibos 2010

Standards for payments and reporting tend to ignite passions and controversy, and the Single European Payment Agreement (SEPA) proved the point at the Sibos 2010 conference, held in Amsterdam in late October. European banks, companies, and other interested organizations seek and end-date on SEPA adoption, which thus far has fallen far short of expectations. While Europe struggles toward a unified payments system, the United  [...Continue Reading]
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China, India, and Japan: A Dispatch from Sibos

China and India remain high on the financial and banking agenda, with attendees at SWIFT’s Sibos 2010 conference packing the room for a session called “India and China: How Do You Choose?” The rise of China especially, in both currency and trade, played as a theme through Sibos, the annual financial and banking conference held in Amsterdam this October. Many U.S. and Europeans are  [...Continue Reading]
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