U.S. Mag Stripe Fuels ATM Skimming
Updated: 2011-02-28 22:23:01
ADT's John Pearce says continued use of the magnetic-stripe is to blame for growing card-skimming trends and threats in the U.S.
FDIC: Senior Leadership for Office of Complex Financial Institutions and Division of Consumer Protection Announced
Updated: 2011-02-28 22:23:01The Federal Deposit Insurance Corp. has additional key leadership staff for the Office of Complex Financial Institutions and the Division of Depositor and Consumer Protection.FinCEN: Guidance to Financial Institutions on Recent Events in Egypt
Updated: 2011-02-28 22:23:01The Financial Crimes Enforcement Network is issuing this Advisory to U.S. financial institutions to take reasonable risk-based steps with respect to the potential increased movement of assets that may be related to the situation in Egypt as the Egyptian government goes through a period of transition.FFIEC Guidance Sets Bar
Updated: 2011-02-28 22:23:01Fraud Red Team's David Shroyer says new authentication guidance, when it is passed, needs more attention on mobile.FDIC: Regulatory Relief Guidance for Institutions in Areas of Oregon Affected by Severe Weather
Updated: 2011-02-28 22:23:01The Federal Deposit Insurance Corp. has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Oregon affected by severe winter storms, flooding, mudslides, landslides, and debris flows.BankInfoSecurity.com Month in Review for Feb. 2011
Updated: 2011-02-28 22:23:01A preliminary draft of new authentication guidance puts greater responsibility on financial institutions, and the ACH/wire fraud case between Experi-Metal Inc. and Comerica Bank marks the first major corporate account takeover incident to hit a courtroom.FinCEN: Guidance to Financial Institutions on Recent Events in Libya
Updated: 2011-02-28 22:23:01The Financial Crimes Enforcement Network is issuing this Advisory to U.S. financial institutions to take reasonable risk-based steps with respect to the potential increased movement of assets that may be related to the situation in Libya.1 Bank, 1 Credit Union Close
Updated: 2011-02-28 22:23:012011 Tally of Failed Institutions: 26State and federal regulators closed one bank and one credit union on Friday, Feb. 25.Australia: Banks Lead Fight
Updated: 2011-02-28 22:23:01AusCERT Praises Institutions' Security MeasuresWhen it comes to risk management and protecting privacy, Australia's government agencies can learn a lot from the nation's banks.Fraud Victim Favors Draft Guidance
Updated: 2011-02-28 22:23:01FFIEC Proposal Seeks to Prevent Corporate Account TakeoverCompetition: do you know what it is?
Updated: 2011-02-28 07:55:00Things worth reading: 28th February 2011
Updated: 2011-02-28 06:43:07Competition: do you know what it is? - the real version!
Updated: 2011-02-28 00:16:51The Finanser's Week: 21st February - 27th February 2011
Updated: 2011-02-27 08:25:23Transmission Channels
Updated: 2011-02-26 06:39:41The BIS folks have just released a literature review about the transmission channels between the financial and real sectors of the economy. This is a pretty comprehensive literature review (which also means that it is a tad dry), but there...5.10.11: Celent Banking Webinar: Can Banks Be Payment Innovators?
Updated: 2011-02-25 23:15:48Zilvinas Bareisis, Senior Analyst, 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.3.31.11: Celent Banking Webinar: Understanding Payment Services Hubs
Updated: 2011-02-25 23:14:37Zilvinas Bareisis, Senior Analyst, 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.Next generation payments by Peter Ayliffe, President & CEO, Visa Europe
Updated: 2011-02-25 11:36:43Things worth reading: 25th February 2011
Updated: 2011-02-25 04:14:23Things worth reading: 24th February 2011
Updated: 2011-02-24 07:55:33Borders' DIP Financing and Risk Weights
Updated: 2011-02-24 05:24:53At the UCLA Big-Bankruptcy Empirical Research conference last week, an interesting question was raised regarding debtor-in-possession ("DIP") financing. Why do DIP facilities offer such high returns even though the historical default rates are so low? A study by Moody's shows...Why Kansas City Fed Chief Thomas Hoenig Thinks the Financial System is Riskier Than Ever
Updated: 2011-02-24 00:07:50Four words explain why the U.S. economy remains in serious danger: Too. Big. To. Fail.
Mobile RDC: Easier Said than Done
Updated: 2011-02-23 22:49:35
Making occasional check deposits using one’s cell phone camera is a great idea. Mobile RDC is a strong concept for its convenience, cost effectiveness and ubiquity. It’s a win-win for financial institutions and customers alike. Yet two things are causing FIs to move with extreme caution: risk and compliance. A recent Chase announcement suggests that [...]How Wall Street and Wisconsin Officials Blew Up the State's Pension Fund
Updated: 2011-02-23 20:06:44
During the housing bubble, Wall Street pushed risky investments on U.S. states at the same time big banks were urging investors to short municipal bonds. Employee pensions are now feeling the pain.2-4-1
Updated: 2011-02-23 16:11:40My regular weekly column is up at Dealbook -- in it I talk about Europeans discovering that the absolute priority rule is not always so absolute. And this morning I have a post up at Dealbook with my initial thoughts...Engaging the Corporate Client
Updated: 2011-02-23 09:28:10Things worth reading: 23rd February 2011
Updated: 2011-02-23 08:02:38The Branch Isn’t Dead After All
Updated: 2011-02-22 23:45:03Celent hosted an event in London with Anthony Thomson, co-founder and chairman of Metro Bank. Metro Bank is the first new High Street (main street retail) bank in the UK in over 100 years and is founded on the same precepts (with the same founder) that launched (now TD) Commerce Bank, “America’s Most Convenient Bank.” Metro [...]How New Credit Card Rules Are Helping Consumers -- and Banks
Updated: 2011-02-22 18:16:58Before the CARD Act, financial firms gouged consumers with hidden fees and raised interest rates without restraint -- and now they don't. The moral of the story? Financial regulation works.
How to Unleash Payments Innovation in Banks?
Updated: 2011-02-22 11:55:09Late last year I had the privilege of being invited to be on a global payments innovation jury and the new report, ‘Payments Innovation 2011 - The Global Jury Decides’, has just been published last week. The report focuses on understanding the challenges facing the payments industry and their impact on innovation in the next 12 [...]Banks are “prisoners of the status quo”
Updated: 2011-02-22 08:26:00The Royal House of Treasury
Updated: 2011-02-22 02:21:01Things worth reading: 22nd February 2011
Updated: 2011-02-22 01:56:27Of Lehman and Goats
Updated: 2011-02-21 22:35:32As Stephen Lubben has remarked on this blog, the litigation filed by Lehman against JPMorgan regarding JPMorgan’s alleged role in Lehman’s demise is heating up. Late last week, JPMorgan filed a colorful amended counterclaim, citing how Lehman had described the...The True Story of Debt in the UK
Updated: 2011-02-21 09:20:44Things worth reading: 21st February 2011
Updated: 2011-02-21 07:36:00Feck me, these fecking bankers are taking the fecking mick
Updated: 2011-02-18 14:08:45Things worth reading: 18th February 2011
Updated: 2011-02-18 07:03:07OCC Findings: Illegal Foreclosures, Critical Deficiencies
Updated: 2011-02-17 20:01:58At today's Senate Banking Committee hearing on Dodd-Frank implementation, Comptroller John Walsh's testimony gave a preview of some findings from the federal agencies' investigation of mortgage servicing and the robosigning scandal: "In general, the examinations found critical deficiencies and shortcomings...Things worth reading: 17th February 2011
Updated: 2011-02-17 07:48:39NAB a guerilla in Oz
Updated: 2011-02-17 00:36:15Financial Crisis Inquiry Commission: How a Best-Seller Could Change the Zeitgiest
Updated: 2011-02-16 21:28:12A partisan split wrecked the official government panel looking into the causes of the housing crash. But the commission may have succeeded in one way -- changing hearts and minds.
RALs - Will They Become Extinct?
Updated: 2011-02-16 20:37:37Refund appreciation loans, or RALs, are among the priciest loan transactions out there. Customers pay a fee (frequently 40% to 700% if expressed as an APR) to get their tax refund early. The fees can be much higher. I saw...Initial Thoughts on Borders
Updated: 2011-02-16 16:19:23On Dealbook.MERS Can’t Transfer Mortgages
Updated: 2011-02-16 00:24:34MERS, which holds roughly half of all U.S. home loans, has no right to transfer mortgages, according to a Bankruptcy Court in Islip, New York. This could significantly affect the foreclosure process nationwide. MERS, which stands for Mortgage Electronic Registration...Obama Budget: As Washington Wars Over Deficit, Americans Chop Debt
Updated: 2011-02-14 19:54:22
U.S. consumers have slashed more than $1 trillion in debt since the housing crash. While that's necessary, permanently higher savings rates could hurt the economy.Here's Why We Still Need to Finger Culprits in the Financial Crisis
Updated: 2011-02-14 00:00:25Who is more to blame for the financial crisis -- "bad actors" or broader social forces? Forget it -- that's the wrong question.
Dodd-Frank Resolution Authority -- the Rules
Updated: 2011-02-10 14:07:00The District Court for the District of Columbia has published some rules regarding cases filed under the new Dodd-Frank resolution authority. To say they are skeletal is something of an understatement; half of the text restates stuff from the statute.The End of Gift Plans?
Updated: 2011-02-09 02:21:27This week's post, up at Dealbook.Bankruptcy Robosigning Business Challenged by Debtors, Trustee
Updated: 2011-02-08 15:07:27A new amended class action complaint filed on behalf of Chapter 13 debtors, with their Trustee as additional plaintiff, describes in exhaustive detail the business of Lender Processing Services and its network of creditor attorneys and mortgage servicers. The gist...Many Thanks to Troy McKenzie
Updated: 2011-02-08 01:50:12On behalf of Credit Slips, I want to thank Troy McKenzie for joining us a guest blogger. Professor McKenzie's posts raised lots of interesting questions about attorneys' fees in bankruptcy and the Constitutional status of bankruptcy courts. I'm glad to...The Bankruptcy Code and the FCIC
Updated: 2011-02-03 19:11:00Mike has done a great service to us chapter 11 types over at Rortybomb, by aggregating all of the quotes from the FCIC report regarding the 2005 expansion of the safe harbors on the Code.Will Tablets Change Banking?
Updated: 2011-02-03 15:25:21Tablet computing is on an obvious growth trajectory, but is this trend something banks should be acting upon, and if so – how? Said another way, led buy Apple’s iPad, will tablets change banking? In the words of Sarah Palin, “You betcha!”. We see tablets contributing to financial services channel delivery both inside the branch [...]Vallejo's Chapter 9 plan
Updated: 2011-02-03 14:42:30The City of Vallejo has filed its Disclosure Statement and plan in its Chapter 9 bankruptcy case. The plan proposes paying general unsecured creditors, mostly employees and retirees, about 5 cents on the dollar from a $6 million fund, an...Reporting from the Celent’s Banking event in London
Updated: 2011-02-03 08:45:17Celent Banking team has kicked off 2011 with a bang. In addition to the flury of new reports, we hosted an industry event in London. Management of multiple channels continues to be high on many of our clients’ agendas, and so we decided to focus on the multi-channel theme and called our event “Branch is [...]Internet Payday Loans, Arbitration Clauses, and Agreements Not to Bring Class Actions
Updated: 2011-02-01 00:32:35You know a case before the New Mexico Court of Appeals is a big when lots of out of town lawyers come to argue the case. And, so it was in the case of Andrea Felts, heard on January 19,...