Links in “Banks”

No subtle breaches of ATMs involving stolen cards or fingertip heat sensors for bad guys in Chile, the wealthiest nation in Latin America. In fact the nation has a problem keeping ATMs in place after criminals have taken to sealing the cracks, injecting propane into them, then lighting them to blow the tops off. [11/18/14]

Here are a few key takeaways for mortgage lenders from the CFPB's recent action against Franklin Loan Corporation for its loan originator compensation practices, which were based on interest rates charged. [11/17/14]

A new Harris Poll finds low levels of trust among consumers for online-only banks and megabanks, with far greater levels of trust for local credit unions and community banks. [11/17/14]

With any AML system it can be tempting to look the other way and let things slide, especially when closer inspection can mean a ton of work. However, letting things slide has many potential negative results, from employment termination to closure or acquisition. In this video, Analyst Cody Knudsen explains how quality control and quality assurance factor into your AML efforts. [11/14/14]

Invisible authentication with fewer password interruptions at the point of sale is where MasterCard and Visa want to head in 2015, with facial and voice recognition apps, or maybe even wristbands that authenticate cardholders through their cardiac rhythms. [11/14/14]

BlackPOS, FrameworkPOS and Backoff are the three families of malware that breached Target, Home Depot and UPS, respectively. [11/14/14]

CFPB orders Franklin to pay $730,000 for a compensation system that rewarded loan officers for steering consumers to higher-rate loans. On the other hand, between 2011 and 2013, Franklin Loan originated $887 million in loans. [11/14/14]

Dodd-Frank gives a state attorney general or regulator authority to bring civil action to enforce the prohibition against unfair, deceptive or abusive acts or practices (UDAAP). Here's a rundown of current lawsuits states have brought and where they stand now, including actions in Illinois, New York, Florida, Connecticut and Mississippi. [11/13/14]

While the government is seeking to make lenders more comfortable by expanding their offerings to boost homeownership, Bank of America's CEO says his bank, a top five mortgage lender in the nation, has little incentive to open up low down-payment options. Consumers who can't come up with the down payment should consider renting instead of buying. [11/13/14]

A letter signed by several trade associations, including those representing banks and credit unions, seeks to counter assertions the retail industry has made regarding recent breaches of consumer information. The letter asserts that while both retailers and financial institutions are under attack by cyber criminals, only financial institutions are developing and maintaining robust internal protections to combat attacks. [11/13/14]