RETAIL BANKING | Staff Reporter, Singapore

Weekly Global News Wrap Up: Is it time to end the separation between banks and commerce?; Regulator warns against regulatory rollback

And Wall Street bankers' bonuses could increase 10% this year.

From Bloomberg: Bank of Amazon. Facebook Financial. Wal-Bank. Amid intense lobbying by financial firms, U.S. policy makers for years have rejected attempts by big companies to muscle in on banking. But Keith Noreika, the temporary head of the agency that oversees U.S. national banks, said Wednesday that it’s time for another look. Addressing the industry at a conference in New York, he called for ending the centuries-old separation between banking and commerce.

From Reuters: The outgoing head of a key U.S. banking regulator is airing concern that banks and industry-sympathetic regulators may go too far in efforts to ease rules established after the 2007-2009 financial crisis. Martin Gruenberg, chair of the Federal Deposit Insurance Corporation, made a broad defense of the post-crisis regulatory landscape on Tuesday, arguing the rules have made U.S. banks safer without sacrificing profitability.

From CNBC: Wall Street bonuses may climb as much as 10 percent this year, in the first meaningful jump for the industry since 2013, according to a closely watched report. Bankers who advise companies on issuing stock or bonds could see an even bigger pay jump, as much as 20 percent, compensation firm Johnson Associates said on Sunday.

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