• NCUA: Borinquen FCU Conserved

    Updated: 2011-06-30 20:33:19
    The National Credit Union Administration (NCUA) today assumed control of service and operations at Borinquen Federal Credit Union of Philadelphia. While continuing normal member services, NCUA will work to resolve issues affecting the institution's safety and soundness.

  • FFIEC Final Authentication Guidance

    Updated: 2011-06-30 20:33:19
    The Final FFIEC Guidance has been issued and its main intent is to reinforce the 2005 Guidance's risk management framework and update the Agencies' expectations regarding customer authentication, layered security, or other controls in the increasingly hostile online environment.

  • FFIEC: Banks Need Layered Security

    Updated: 2011-06-30 20:33:19
    Fraud expert Ori Eisen says banks spend too much time reacting to ACH fraud, rather than trying to stop it. Now that the FFIEC's new online authentication guidance is official, banks must focus on eliminating outdated solutions and moving toward automated solutions for device identification and log analysis.

  • Database Security Policies Needed

    Updated: 2011-06-30 20:33:19
    Inside and Outside Threats Threaten Sensitive DataThe database has become the main target for hackers and negligent insiders, as the insider breach at Bank of America showed. A recent survey highlights the need for financial institutions to enhance security measures to mitigate threats and losses.

  • FFIEC Authentication Guidance: First Analysis

    Updated: 2011-06-30 20:33:19
    Aite's Julie McNelley says the final FFIEC online authentication guidance offers greater detail in areas such as layered security, but that institutions have much to do to prepare for regulatory assessments in 2012.

  • Avivah Litan on FFIEC Authentication Guidance

    Updated: 2011-06-30 20:33:19
    Gartner's Avivah Litan says regulators have done a nice job of emphasizing why and how banks and credit unions need to implement layered security that adequately addresses online risks. But the guidance falls short when it comes to customer education.

  • Full Text of Final FFIEC Authentication Guidance

    Updated: 2011-06-30 20:33:19
    Unabridged Release from the U.S. Banking Regulatory AgenciesThe Final FFIEC Guidance has been issued and its main intent is to reinforce the 2005 Guidance's risk management framework and update the Agencies' expectations regarding customer authentication, layered security, or other controls in the increasingly hostile online environment.

  • NCUA: St. James A.M.E. FCU Liquidated

    Updated: 2011-06-30 20:33:19
    The National Credit Union Administration (NCUA) liquidated St. James A.M.E. Federal Credit Union of Newark, N.J., today. North Jersey Federal Credit Union of Totowa, N.J., immediately assumed St. James A.M.E. Federal Credit Union's members.

  • FDIC: Review of Washington First International Bank Failure

    Updated: 2011-06-30 20:33:19
    The Federal Deposit Insurance Corp. has issued an in-depth review regarding the closing of Washington First International Bank, located in Seattle, Washington.

  • Fiserv and CashEdge Prepare to Step into the Ring

    Updated: 2011-06-30 16:50:57
    It’s been a really busy week on the M&A front - S1/Fundtech, Intuit/Mobile Money Ventures, and now Fiserv/Cashedge. Yesterday, Fiserv announced that it has agreed to acquire CashEdge. It’s a strategic move on the part of Fiserv and I can think of numerous reasons for the acquisition. Let’s explore a few of the areas: P2P Payments. Fiserv [...]

  • Responsible Lending as an Emerging International Norm

    Updated: 2011-06-30 12:15:35
    The International Association of Consumer Law, with participants present from six continents, has been meeting at Brunel University in West London the last few days, hearing presentations from regulators, industry representatives, consumer advocates, and academics. http://qwww.brunel.ac.uk/bls/research/events/ne_41734 Not surprisingly, regulation of...

  • Durbin D-Day

    Updated: 2011-06-30 10:01:01
    Finally, the wait is over. Yesterday (June 29th), the Fed’s Board approved and announced the final version of Regulation II, known in the payments industry as the Durbin amendment, which sets out the rules for debit card transactions. Financial institutions feared the worst after the initial proposals annouced in December last year. Today, banks can breath a sigh of relief. In both [...]

  • How banks can beat the telco's at the mobile game

    Updated: 2011-06-30 07:10:31

  • Things worth reading: 30th June 2011

    Updated: 2011-06-30 05:29:00

  • The Fed Bails Out the Banks...Again

    Updated: 2011-06-30 00:38:10
    If anyone doubted who set the marching tune for the Federal Reserve Board, it was sure clear today. The Fed announced its final rule under the Durbin Interchange Amendment, and it was quite the handout to the big banks. The...

  • Things worth reading: 29th June 2011

    Updated: 2011-06-29 06:31:52

  • What Can The CFPB Do To Regulate Payday Lenders?

    Updated: 2011-06-28 22:01:16
    Even though the CFPB cannot cap interest rates on payday loans, there is still plenty that the CFPB can do to regulate these lenders. But what should the Bureau do? Some of the trickiest aspects of the payday lending issue...

  • Are small firms retail or commercial propositions?

    Updated: 2011-06-28 13:24:12

  • Things worth reading: 28th June 2011

    Updated: 2011-06-28 05:59:28

  • Vive l'extension et la prétention!

    Updated: 2011-06-27 22:51:27
    Who said that the US had a monopoly on extend and pretend? The French are showing that they know that move and that they can do it with panache. The French have graciously announced that their banks have agreed to...

  • Fundtech & S1 - A Match Made in Heaven?

    Updated: 2011-06-27 16:56:55
    Earlier today, S1 announced that it had joined forces with Fundtech. This merger of two well known payments and electronic banking solution providers has a lot going for it. For the most part, these two firms have complementary product sets. As a single firm, they now have the capacity to be a global player, serve [...]

  • Cheques checking out? Not any time soon

    Updated: 2011-06-27 16:48:11
    I was pleased to be able to speak at Payment Strategies 2011 again two weeks ago. I think this is the third year I’ve been asked to share my thoughts, and as always there were some good speakers on the agenda. The page has videos of the speakers, so I’ll let you decide whether [...]

  • Banks are from Mars, Corporates are from Venus

    Updated: 2011-06-27 07:57:11

  • The Finanser's Week: 20th June - 26th June 2011

    Updated: 2011-06-26 07:42:42

  • Managing Mobile RDC Risk

    Updated: 2011-06-24 17:14:56
    Chase is the leader in mobile remote deposit capture (RDC), with more customers depositing more checks than anyone else in the market. I just received a notice from them that is essentially Chase practicing good risk management. Dear Chase Customer: You are receiving this message because you are enrolled in Chase QuickDepositSM. We want to provide you [...]

  • Why payments infrastructures are NOT fit for purpose

    Updated: 2011-06-24 07:43:51

  • Things worth reading: 24th June 2011

    Updated: 2011-06-24 06:53:24

  • Celent Model Bank Awards 2011

    Updated: 2011-06-23 15:49:42
    The capstone of Celent’s Innovation and Insight Day held in Atlanta, GA last week was the recognition of Celent Model Bank award recipients for 2011. For the most part, it’s not much fun to be a banker these days. The news media, consumer advocates, regulators and politicians alike seem to make bank bashing their full-time [...]

  • The Unintended Consequences of Regulation

    Updated: 2011-06-23 11:24:47
    Last week I attended Celent’s Innovation and Insight Day in Atlanta and had an opportunity to catch up with many of our clients, both banks and technology vendors. One of the banks told me an interesting story how after Reg E came into force, they saw a drop in debit card usage and a significantly [...]

  • Are payments infrastructures fit for purpose?

    Updated: 2011-06-23 07:00:00

  • Things worth reading: 23rd June 2011

    Updated: 2011-06-23 06:14:29

  • Lloyd’s branch sell off … what a load of Verde

    Updated: 2011-06-22 09:14:31

  • Things worth reading: 22nd June 2011

    Updated: 2011-06-22 06:33:36

  • JPMorgan Fined 0.9% of Profits for Helping to Destroy Global Economy

    Updated: 2011-06-21 21:19:50
    The SEC's feeble settlement with JPMorgan Chase -- which earned $17 billion last year -- is less a slap on the wrist than a license to steal.

  • Greece Is Right to Beware an IMF Bearing Gifts

    Updated: 2011-06-21 18:23:05
    The International Monetary Fund's prescription for the latest sovereign debt crisis would inspire more confidence if it had a better record of preventing previous ones.

  • Things worth reading: 21st June 2011

    Updated: 2011-06-21 06:01:24

  • Celent Banking Innovation & Insight Day Roundup

    Updated: 2011-06-20 21:33:49
    Last Thursday, Celent hosted it’s annual Banking Innovation & Insight Day. It’s the first time we have held an event in Atlanta and were pleased by the fantastic turnout. We had a broad range of panel sessions and presentations, all following a common theme - banking innovation. Bank Systems & Technology wrote up a brief [...]

  • USAA and UPS Stores: A Lesson in Branch Relevance

    Updated: 2011-06-20 16:17:39
    In October 2010, USAA announced its partnership with The UPS Store to act as an in-person deposit gathering channel for the bank – something USAA has done without for years and still managed to enjoy a deposit growth rate of roughly three times the industry average. Last week, USAA announced its Easy Deposit service is [...]

  • Hey, Capital One: Don't Mess Up Quirky ING Direct USA

    Updated: 2011-06-20 11:45:18
    The credit card giant's $9 billion purchase of an online banking business is certainly bold. But the deal's success depends on preserving what makes ING Direct USA so likable.

  • Now it's an eyePhone

    Updated: 2011-06-20 08:40:57

  • Things worth reading: 20th June 2011

    Updated: 2011-06-20 06:31:30

  • The Finanser's Week: 12th June - 19th June 2011

    Updated: 2011-06-19 10:27:01

  • Why the SEC Should Get Medieval With the Credit Rating Agencies

    Updated: 2011-06-17 18:49:17
    The SEC is considering charging Standard & Poor's, Moody's and other credit raters with fraud. It's about time.

  • ING: selling the rebels with a cause

    Updated: 2011-06-17 08:17:08

  • Cap One Acquires ING Direct

    Updated: 2011-06-17 01:39:51
    Capital One was the likely winner to acquire ING Direct’s US business, and they did. Few people do data analytics better than Capital One and a large direct business such as that run by ING is a perfect customer pool upon which to use the analytics that they have wielded so successfully in credit cards. Capital [...]

  • Unlike the U.S., Brits Show Some Steel in Policing Big Banks

    Updated: 2011-06-15 18:30:27
    Financial reform in the U.S. has largely left Wall Street unscathed. But British political leaders (conservatives, too!) are showing greater resolve in fixing the country's banking system.

Current Feed Items | Previous Months Items

May 2011 | Apr 2011 | Mar 2011 | Feb 2011 | Jan 2011 | Dec 2010