Things we're reading today include ...
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Today's must read
"While online platforms may never replace conventional lending institutions, such as banks, it is important that the community development finance industry be aware of this emerging technology. Moreover, P2P finance platforms will continue to evolve—allowing for third-party issued loan sales, for example—which may fundamentally alter the way credit is allocated in the future. In either case, the potential community development finance implications are too significant to ignore."
Peer-to-Peer Lending and Community Development Finance (the Federal Reserve Bank of San Francisco)
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Can Zopa beat the banks?
(Financial Times)
800 new jobs as Tesco pushes banking ambitions
(Independent)
Spain’s BBVA leads the race for Guaranty
(Financial Times)
Lending is still falling, warns Bank of England
(Independent)
U.S. deficit estimate to be trimmed to $1.58 trillion
(Yahoo!)
Tarp investigation could shed light on US banks' toxic assets (Telegraph)
Leading bankers converge on Wyoming to assess recovery signs (Telegraph)
Chinese bank ICBC's expanding loan book may come back to bite shareholders
(Telegraph)
Bank of China to 'cherry-pick' UK mortgage customers as lending drought persists
(Telegraph)
A Failure of Capitalism: Honesty about the Stimulus
(Richard A. Posner in the Atlantic)
Recession easing among wealthier nations
(Financial Times)
Alistair Darling puts bankers' pay on G20 agenda
(Telegraph)
Social media facts businesses cannot ignore (Computer Weekly)
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Quotes of the Day
“68 Million Reasons Your Bank Sucks. That’s the amount BoA collected last quarter in needless ATM fees.”
Starting a Bank
(Founder of Wordpress)
“Of the 37,000 new viruses, worms, Trojans and other security threats
that appear each day, 71 percent are Trojans, mostly designed for
identity theft."
Identity-Theft Malware Flourishes During Economic Downturn, According to PandaLabs
(Newswire)
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Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
