• FFIEC Final Authentication Guidance

    Updated: 2011-07-31 22:49:15
    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.

  • Fraud Fighters Wanted

    Updated: 2011-07-31 22:49:15
    , , , , Click here to skip this ad and continue to the requested page .

  • The Fed's Impact on Fraud Funding

    Updated: 2011-07-31 22:49:15
    Interchange Move May Push Banks to EMV, New Solutions"I think we'll see some additional investments in fraud prevention tools as a result, and it could be EMV tokens or neural networks," says Jim Schlegel of ACI Worldwide, following the Fed's move on debit interchange fees.

  • NCUA Expands Disaster Relief for Flooding in Missouri

    Updated: 2011-07-31 22:49:15
    With more severe flooding now threatening new areas of Missouri, National Credit Union Administration [NCUA] Board Chairman Debbie Matz expanded the agency's disaster relief policy to assist credit unions and their members in dealing with local recovery efforts in areas struck by severe floods beginning June 1 and continuing.

  • NCUA: Disaster Relief for Flooded and Storm-Affected States

    Updated: 2011-07-31 22:49:15
    With severe weather and flooding affecting areas of Montana, Nebraska, Indiana, Kansas and Iowa, National Credit Union Administration [NCUA] Board Chairman Debbie Matz expanded the agency's disaster relief policy to assist credit unions and their members in dealing with local recovery efforts.

  • Mobile Devices Intensify IT Security Jitters

    Updated: 2011-07-31 22:49:15
    Former TSA CISO on the Challenges Facing Mobile SecurityNew mobile technology is behind a growing public concern about Internet security, says former Transportation Security Administration CISO Patricia Titus, who now holds the same post at Unisys.

  • RSA's Post-Breach Security

    Updated: 2011-07-31 22:49:15
    Eddie Schwartz, the new - and first - chief security officer of RSA, says the IT security provider hit by a sophisticated advanced-persistent-threat attack in March is focusing internal security on efforts to reduce the time an intruder can go undetected.

  • Citi Case Exposes Insider Risks

    Updated: 2011-07-31 22:49:15
    Internal Controls Could Have Detected Fraud Much Sooner"Any other bank could have just as easily been victimized," says banking fraud expert Shirley Inscoe, following the arrest of a former Citigroup executive charged with embezzling more than $19 million.

  • Fraud Prevention and EMV

    Updated: 2011-07-31 22:49:15
    The Fed's ruling on interchange cuts mandated by the Durbin Amendment will aid fraud prevention and could accelerate a move to chip-based payments, says Randy Vanderhoof, director of the Smart Card Alliance.

  • FDIC: Review of Washington First International Bank Failure

    Updated: 2011-07-31 22:49:15
    The Federal Deposit Insurance Corp. has issued an in-depth review regarding the closing of Washington First International Bank, located in Seattle, Washington.

  • The Finanser's Week: 25th July - 31st July 2011

    Updated: 2011-07-31 07:48:50

  • Life After Durbin: The Gloves Are Coming Off

    Updated: 2011-07-29 14:03:46
    This week Visa held its earnings call and one of the key announcements was a pricing restructuring. In what appears to be a direct response to Durbin regulations, Visa is lowering its variable per-transaction fees and introducing a “network participation fee” in the United States for all of its debit, credit and prepaid card services. The participation fee will apparently be based [...]

  • Delivering stellar service in banking

    Updated: 2011-07-29 10:27:42

  • Things worth reading: 29th July 2011

    Updated: 2011-07-29 06:46:05

  • Do Recent Announcements Bode Well for Same-Day ACH? Color me unconvinced.

    Updated: 2011-07-28 18:34:50
    Earlier this month Aptys Solutions announced the availability of same-day ACH support on its PayLogics platform primarily used by midsize banks. On about the same timing, Fiserv made known the availability later this year of a separately licensed module to its PEP+ product used by most large US banks. The enhancement is currently being pilot [...]

  • Too Big To Fail or Too Small To Succeed

    Updated: 2011-07-28 13:37:39

  • Things worth reading: 28th July 2011

    Updated: 2011-07-28 05:56:29

  • For-Profit Higher Education Industry Sues to Block Weak “Gainful Employment” Rule

    Updated: 2011-07-27 19:11:57
    Last week the Association of Private-Sector Colleges and Universities (aka the Career College Assn.) filed suit in U.S. District Court in Washington, D.C., to block enforcement of the U.S. Dept. of Education’s “Gainful Employment” regulation, issued in June. See here...

  • Would a U.S. Credit Downgrade Smash the Economy -- or Just Dent It?

    Updated: 2011-07-27 18:15:28
    A growing number of economists and market analysts predict that credit rating agencies will downgrade America's once gold-plated debt. The impact that would have is hard to gauge.

  • Totally immersive experiential marketing

    Updated: 2011-07-27 08:42:05

  • Things worth reading: 27th July 2011

    Updated: 2011-07-27 06:47:49

  • Umpqua Bank understands retailing

    Updated: 2011-07-27 00:51:54
    This month I had the pleasure of riding the STP (Seattle to Portland) bicycle classic, a relatively flat 200 mile ride over a weekend. While the organizers provide food and rest stops, one can never have too much food and water on these events. There are ten thousand participants and we pass literally hundreds of retailers, [...]

  • What's Really Driving George Soros to Bail on Investors

    Updated: 2011-07-26 21:38:38
    The hedge fund titan says new federal rules are driving him to scale back his investment activities. But that may be only part of the story.

  • Alipay: innovation in banking is a good thing

    Updated: 2011-07-26 07:24:00

  • Things worth reading: 26th July 2011

    Updated: 2011-07-26 04:01:29

  • Good News on Mortgage Modifications

    Updated: 2011-07-25 22:06:00
    Isn't it about time for some good news on mortgage modifications? Here is some, in the form of a paper titled Who Receives a Mortgage Modification? Race and Income Differentials in Loan Workouts. The authors use data from the Home...

  • Foreclosure Fraud Firings

    Updated: 2011-07-25 21:56:35
    Every time I think I've seen it all in the foreclosure fraud space, something new comes along and amazes me. This time it's not the banks or their vendors, but an AG. David Dayen at FireDogLake has a disturbing story...

  • In the bleak mid-summer

    Updated: 2011-07-25 13:36:40

  • Things worth reading: 25th July 2011

    Updated: 2011-07-25 06:26:41

  • The Finanser's Week: 18th July - 24th July 2011

    Updated: 2011-07-24 07:24:26

  • Things worth reading: 22nd July 2011

    Updated: 2011-07-22 00:32:41

  • Dodd-Frank Financial Reform: Loved by Few, Hated by Many, Essential to All

    Updated: 2011-07-22 00:15:58
    The landmark financial reform law is off to a slow start, hobbled by its complexity and Wall Street lobbying. As a cornerstone for change, it's also more vital than ever.

  • Cowboy Capitalist: Wells Fargo Pushed Borrowers into Subprime Loans

    Updated: 2011-07-21 11:45:50
    Wall Street's California branch has sought to distinguish itself from other big banks with a lousy rep. Don't believe it.

  • The biggest opportunity for global banks

    Updated: 2011-07-21 07:41:49

  • Things worth reading: 21st July 2011

    Updated: 2011-07-21 01:13:21

  • Gang of Six and the Housing Market

    Updated: 2011-07-20 14:06:32
    There aren't a lot of details about the Gang of Six debt proposal, but apparently it includes cutting or eliminating the home mortgage interest deduction. There's a good case to be for eliminating the home mortgage interest deduction. But regardless...

  • Playing ping-pong with bank's yachts

    Updated: 2011-07-20 07:24:03

  • Things worth reading: 20th July 2011

    Updated: 2011-07-20 03:23:28

  • New Resource: NCLC's Bankruptcy Mortgage Project

    Updated: 2011-07-19 22:52:36
    The National Consumer Law Center has launched a useful new resource for the bankruptcy community called the Bankruptcy Mortgage Project. See here. Those likely to find it handy include judges, consumers, trustees, mortgage servicers, attorneys, and academics. The website, created...

  • Bank of America Still Choking on Poisoned Loans

    Updated: 2011-07-19 21:52:37
    The nation's largest mortgage lender continues to pay the price for its disastrous purchase of Countrywide. And the bank isn't out of the woods yet.

  • Bad Robot: Big Banks Are Still Faking Home Loan Documents

    Updated: 2011-07-19 17:23:20
    The nation's largest loan servicers have struck settlements with the U.S. government promising to stop engaging in illegal "robo-signing." So why are they still doing it?

  • Things worth reading: 19th July 2011

    Updated: 2011-07-19 06:10:17

  • Shocker: Skinner thinks EBA stress tests not worthwhile

    Updated: 2011-07-18 07:30:00

  • European Bank Stress Tests: Please Ignore That Giant Meteor Streaking Our Way

    Updated: 2011-07-15 22:21:32
    A health check of 90 European banks confirms what we already knew -- some institutions need capital. Trouble is, more money won't save the banking system if Greece blow up.

  • A Victory for the People but a Giant Loss for Common Sense?

    Updated: 2011-07-13 09:10:00
    Reader, I had to bite my tongue yesterday. A lot. Indeed, I had to wait until today so my blog was a blog rather than a rant. Yesterday, the UK Payments Council said it had cancelled any plans to retire cheques in the UK , after severe pressure from MPs and from consumer groups. The [...]

  • Run Over By Regulation

    Updated: 2011-07-12 09:57:56
    I’ve written many times about the fact that new regulation often has unintended consequences. To be fair, whilst you can model and theorize, it’s often hard to judge what Joe Public or market will actually do. Sometimes though, you feel like saying ….duhh – what did you expect?! I think one that may [...]

  • If Bankers are from Mars, Are Corporates from Venus?

    Updated: 2011-07-11 11:20:15
    As you may gather from some of my recent posts, it’s the speaking season. This post is the third in a row about insights and observations from recent speaking engagements. Whilst the core of being an analyst is about writing, getting out and talking to people is equally important, and equally as satisfying. This [...]

  • PayPal opens up the market for the unbanked

    Updated: 2011-07-08 02:17:08
    EBay / PayPal has acquired Zong, one of the leading companies in mobile payments. What did they buy? First they bought relationships with hundreds of mobile network operators (MNOs) who trust Zong enough to allow them to bill the MNO’s customer accounts. PayPal knows how to bill a bank account or a credit card, but doesn’t [...]

  • Truth in numbers? “Registered users” is a crock

    Updated: 2011-07-06 14:43:28
    This morning, TechCrunch published an article titled, With Top Banks In Tow, Financial Service Provider Yodlee Hits 30 Million Users. Here are the stats: - Mint.com has 5 million registered users - Yodlee has 30 million registered users Both figures are impressive, so congrats to the vendors. However, as an analyst, I don’t care too much about registered users. I want [...]

  • Something In the Water? Western Union and Travelex Ensure The (Corporate) Marriage Season Continues

    Updated: 2011-07-06 12:39:53
    Is it something in the water? It’s been an incredible few weeks for corporate marriages. From Fundtech and S1 to Fiserv and CashEdge, from Visa and Fundamo to now Western Union and Travelex Global Business Payments. An estimated $24bn B2B cross-border payments market is growing rapidly, driven by both the demand side, such as growth in international [...]

  • Hey FFIEC, Is This Really Guidance?

    Updated: 2011-07-05 17:12:07
    Last week the FFIEC issued the long awaited Supplement to Authentication in an Internet Banking Environment. I read through the 12 page report (it’s actually 8 pages with a 4 page appendix), and kept reminding myself that I should try to look at this in a cup half full manner. Yes, I can be a [...]

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