The Finanser's Week: 25th October - 31st October 2010
Updated: 2010-10-31 07:19:27
One Credit Union Closed
Updated: 2010-10-30 16:12:34Actions Raise 2010 Tally to 161 Failed InstitutionsFederal and state regulators closed one credit union on Friday, Oct. 29Editor's Choice: Fighting Keyloggers and the Global Zeus Fight
Updated: 2010-10-30 16:12:33NIST scientists are working to help the industry beat keyloggers, and law enforcement agencies cross borders to launch their fight against Zeus, the world's nastiest and most sophisticated Trojan.NCUA: The Union Credit Union Closes, Spokane, Wash.
Updated: 2010-10-30 08:12:11The National Credit Union Administration was appointed liquidating agent of The Union Credit Union of Spokane, Wash., by the Washington Department of Financial Institutions after the DFI closed TUCU.Week In Review: New PCI Standards Finalized; ID Theft: SARs On The Rise
Updated: 2010-10-30 00:11:44This week's top news and views: Version 2.0 of the PCI Data Security Standard hits the streets and takes effect Jan. 1. And Identity theft is on the rise, and a new study from FinCEN finds that it's not cyberattacks that are compromising most consumers -- it's family and friends.FBI on ACH Fraud Investigations
Updated: 2010-10-30 00:11:43FBI agent Russ Brown has advice for fighting ACH fraud.More on Foreclosures and Discovery
Updated: 2010-10-29 19:29:12But first, want to see the house that started the whole robo-signing controversy? look here. On to the discovery .... Adam's post earlier this week, about how Federal bank regulators are examining whether mortgage companies cut corners during foreclosures, suggests...Mobile Security: Jumping the IP Hurdle
Updated: 2010-10-29 16:11:22Authentication, Biometrics, Analytics Are Future of Mobile Security<brMobile devices, by their nature and reliance on wireless connectivity, have inherent security vulnerabilities. But those vulnerabilities can be overcome.Chip & PIN Needs PCI
Updated: 2010-10-29 16:11:21PCI Council's European Head Says EMV Alone is Not EnoughCard fraud, globalization and emerging technology are pushing U.S. merchants and card issuers to take closer looks at the EMV chip standard, and the PCI Security Standards Council is helping to lead the charge.Things worth reading: 29th October 2010
Updated: 2010-10-29 07:35:4711.3.10: Celent Research Webinar: Celent’s XCelent Awards
Updated: 2010-10-28 18:51:00Bart Narter, Senior Vice President, Celent’s Banking Group This event is free to attend. Celent clients and the media will have access to the webinar’s PowerPoint presentation after the event. Please click here for more information.She popped her clogs
Updated: 2010-10-28 07:29:17Things worth reading: 28th October 2010
Updated: 2010-10-28 06:06:16The newest alternate channel: Branch
Updated: 2010-10-27 16:53:07Visiting with lots of bankers and technology vendors at BAI, one hears a great deal about alternate channels, and multi-channel integration. My conclusion after all these discussions is that the new alternate channel is the branch. More customers use “alternate channels” such as internet banking, mobile banking, IVR and ATM, than use the branch. I [...]Small is less than $5 billion
Updated: 2010-10-27 15:14:10“Asian banks are going to head West"
Updated: 2010-10-27 12:02:36Chinese Banking and the 200,000 1RMB notes
Updated: 2010-10-27 09:03:57Things worth reading: 27th October 2010
Updated: 2010-10-27 07:18:44FDIC: Regulatory Relief to Facilitate Recovery in Areas of Nebraska Affected by Severe Weather
Updated: 2010-10-27 06:41:17The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Nebraska affected by severe storms, flooding, tornadoes and straight-line winds.FDIC: Regulatory Relief, Guidance for Recovery in Wisconsin Areas Affected by Severe Weather
Updated: 2010-10-27 06:41:16The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Wisconsin affected by severe storms and flooding.FDIC's Proposed Rules on Resolution Authority
Updated: 2010-10-27 05:51:51My take, up on Dealbook. I've also authored a comment letter on the topic. The point is not to question the creation of a separate resolution authority -- that's already done -- but to question the creation of a whole...Good Thing We Have the Volcker Rule Thingo
Updated: 2010-10-26 18:24:26Because otherwise JP MorganChase couldn't sink more of its too big to fail self into emerging markets hedge funds. But then they go and do it, for $6 billion. What am I missing? Holding it through a subsidiary reduces the...The days of self-regulation are over
Updated: 2010-10-26 13:02:43A real tulip in Amsterdam
Updated: 2010-10-26 09:18:34Things worth reading: 26th October 2010
Updated: 2010-10-26 06:31:29Hyland Outlines Corporate Credit Union Resolution, Looks to Future
Updated: 2010-10-25 23:03:18National Credit Union Administration (NCUA) Board Member Gigi Hyland today told the American Institute of Certified Public Accountants "Conference on Credit Unions" that NCUA is working to assist the credit union industry in weathering its "most significant financial and structural challenge" presented by a "perfect storm of over-concentration in private-label, mortgage-backed securities held by several large corporate credit unions."BAI Retail Delivery 2010 Roundup (Part 2)
Updated: 2010-10-25 18:27:03While most of the banking world (including key members of the Celent team) has seemingly moved on to Amsterdam for SIBOS, I thought I’d append a few more thoughts to Jacob’s post about last week’s BAI Retail Delivery conference. Both Jacob & I were faced with variations of the “whither on-line vs. mobile?” question numerous times during the conference. [...]"Social media will bring banks to their knees"
Updated: 2010-10-25 15:25:48: The Financial Services Club's Blog Your email : address Powered by FeedBlitz Subscribe to this blog's feed About Recent Posts Social media will bring banks to their knees Banks are just safe keepers of data Chew lips from Amsterdam The Finanser's Week : 18th October 24th October 2010 Top Tips for Tradeshows Things worth reading : 22nd October 2010 How will banking be different in 100 years Things worth reading : 21st October 2010 The similarity between OTC derivatives and cheese Things worth reading : 21st October 2009 Recent Comments Chris Barry on Banks are just safe keepers of data WealthCity on The Rise of Islamic Finance Erik on Which nation will be next global superpower Fabrizzio Valencia on Innovation has nothing to with technology Pete Burden on How will banking be different inBanks are just safe keepers of data
Updated: 2010-10-25 12:23:26Chew lips from Amsterdam
Updated: 2010-10-25 09:02:48BAI Retail Delivery 2010 Roundup
Updated: 2010-10-22 15:45:06The BAI Retail Delivery conference is just coming to a close, and I attended along with the my colleagues in the Celent banking team. Attendance definitely appeared to be up over last year. The 2009 event was depressing from an attendance perspective, and I was happy to see the ramp up. The Las Vegas venue [...]Debt Collector to Pay $1.75 Million
Updated: 2010-10-22 14:46:43More Robo-news, this time robo- dialers. Allied Interstate Inc., a large Minnesota debt collection agency with a history of consumer complaints, has agreed to pay $1.75 million to settle federal allegations that it broke the law by trying to collect...WSJ Blames Evil Consumer Lawyers
Updated: 2010-10-21 23:42:10Although the Wall Street Journal has provided some excellent coverage of the foreclosure crisis, this story by Robbie Whelan (via Naked Capitalism rebuttal) is pure drivel. The ludicrous premise is that a coterie of clever consumer lawyers have contrived to...The Bankruptcy Courts Fight Back?
Updated: 2010-10-19 19:26:53My latest thoughts on chapter 11 are now up on Dealbook.Smoke and Mirrors Won't Help Bank of America, Wall Street
Updated: 2010-10-19 18:51:05Bank of America's latest earnings report portrays the company as in recovery. Don't believe it.
How the Foreclosure Mess Could Cause Banks to Crash
Updated: 2010-10-15 19:51:38Like those dark days of 2008, no one knows for sure how bad the robo-signing scandal could get.
ZashPay User Impressions
Updated: 2010-10-14 02:41:02
While attending Fiserv Analyst Day 2010 on Thursday last week, I unwarily volunteered to participate in a live demo as part of a presentation of Fiserv’s digital channels solutions. This was a bit risky since at the time, I had been an iPhone user all of twelve hours. Fiserv launched ZashPay in July 2010 and [...]Some Thoughts on the MGM Prepack
Updated: 2010-10-12 23:48:51Here. Today's competing offer from Lions Gate only emphasizes my last point -- the seemingly simple task of getting the secured lenders on board with the plan is complicated by the fact that the loan has been literally sliced 101...Basel III and Cushy Capital
Updated: 2010-10-12 05:13:43The Annual Meetings of the IMF and the World Bank this past weekend were mostly notable for the depth and breadth of political discord underlying the veneer of recent technocratic accomplishment in financial regulation. So many things can go truly...It’s Alright To Be Little Bitty
Updated: 2010-10-11 17:45:53Last week, I met with one of the founders of Supportland, a hip, Portland OR-based start-up that is trying to level the playing field for small, local merchants by building a community-wide rewards program. Merchants pay a monthly fee, and the solution currently uses plastic cards (distributed by participating merchants) as a form factor — however, [...]Why Rampant Foreclosure Fraud Was Inevitable
Updated: 2010-10-11 13:51:59Reports that lenders broke the law in hustling thousands of people out of their homes are no surprise given the massive level of fraud that characterized the housing bubble.
11.15-16.10: Celent Banking Webinar: The Future of Mobile Contactless Payments in South Korea
Updated: 2010-10-08 17:38:04Celent analyst KyongSun Kong This event is free to attend. Celent clients and the media will have access to the webinar’s PowerPoint presentation after the event. Please click here for more information.11.1-2.10: Celent Research Webinar: Financial Links Between China and Taiwan
Updated: 2010-10-08 17:34:23Celent analyst Hua Zhang This event is free to attend. Celent clients and the media will have access to the webinar’s PowerPoint presentation after the event. Please click here for more information.The Notary Fraud Condonation Act of 2010
Updated: 2010-10-08 00:57:19It looks as if the President will veto the Notary Fraud Condonation Act of 2010, formally known as Interstate Recognition of Notarizations Act of 2010. Notary fraud is nothing new, and it's hardly foreclosure-specific. Requiring state courts to recognize out-of-state...Foreclosures: Help for Homeowners Means Hurt for Banks
Updated: 2010-10-06 17:37:00
Help may finally be on the way for homeowners facing foreclosure. For banks, the "robo-signing" scandal underscores a troubling reality -- they're still sitting on mountains of bad loans.La Mano Dura
Updated: 2010-10-05 15:22:51
As I am Europe visiting banks, I find that they have much stronger and centralized IT functions, that allow for systems that are optimized for the bank rather than for the line of business. In the US, IT is typically a cost center, and an order taker from the line of business. The org chart [...]“Dear Banker, I would like a MasterCard, please”
Updated: 2010-10-05 10:10:05Many industry commentators who attended MasterCard’s Worldwide Media and Analyst Symposium on September 23rd in Purchase, NY noted the confident tone of the company, the energetic and fired-up management team and how the firm views some of the major challenges for the industry (e.g. the Frank-Dodd act) as opportunities. However, I think one of the more [...]Measures of TARP
Updated: 2010-10-04 06:50:49The curtain drew on TARP to a flood of assessments, from Treasury's up to TARP COP's down, with the commentariat all along the spectrum in between, converging around about the "necessary-evil-begets-moral-hazard" meme. But this New York Times graphic and the...Wondering How Lenders Are Making Up for Missing Credit Card Fees? Check Your Home Escrow.
Updated: 2010-10-04 05:11:25Following credit card reform, interest rates on credit cards have gone up, but this is not the only way lenders are making up for lost fees. My own home loan escrow was recently reset, and increased by about $120 a...The 79.9% APR Credit Card
Updated: 2010-10-03 20:03:39A while back I blogged about a 79.9% APR credit card offer from First Premier, a subprime card issuer. The point I made in that post was that although the APR was off-the-charts high, it was basically an equivalent pricing...