Links in “Banks”
- Breach Fallout: Nearly Half of Cardholders Going Back to Cash
A survey of credit card holders finds that 48% of respondents are more likely to pay with cash this holiday season, because of recent security breaches. The percentage rises the lower the income and education levels. [10/22/14]
- Guidance on How Your Small Business Customers Can Prevent Account Takeover
ABA offers five ways small business customers can protect themselves from corporate account takeover in this latest Cybersecurity Awareness Month installment. [10/22/14]
- Putting Private Student Loan Woes in Perspective
The CFPB focuses much of its attention on the private student loan market, but private student loans make up less than 8% of the student loan market, with default rates of 3%, compared to 14% for federal student loans. [10/21/14]
- FHFA Chief to Bankers: Be More Aggressive in Making Responsible Loans
Federal Housing Finance Administration's chief tells bankers the agency is working to expand availability for mortgage credit in an effort to give the housing market a lift and is looking for bankers to do their part "to fulfill both sides of our shared responsibility." [10/21/14]
- Fed Gov to Bankers: Fix Your Culture or We’ll Do It for You
In a closed-door speech to the Federal Reserve Bank of New York, Federal Reserve Board Gov. Daniel Tarullo said "that if banks do not take more effective steps to control the behavior of those who work for them," regulators and law enforcers will. [10/21/14]
- HUD Chief: Credit Pendulum Has Swung Too Far
Speaking to the Mortgage Bankers Association, HUD Secretary Julian Castro says that credit, which was too loose in the years leading up to the economic crisis, has swung too far the other way. "There's been a vacuum in the market and it needs to be filled." [10/21/14]
- Report: GSE Agreement That Would Jumpstart Mortgage Activity Close
The two GSEs, Fannie Mae and Freddie Mac, and their conservator are reportedly nearing an agreement with lenders that would provide greater assurances that lenders would not be at risk of being pressed to repurchase loans sold, a move that could give a boost to sluggish mortgage activity. [10/20/14]
- Trade Group: President’s EMV Executive Order Misses the Boat
Requiring EMV chip technology to immediately be PIN-capable will actually slow the transition to chip cards and fails to provide safeguards for online transactions. [10/20/14]
- Executive Order Pushes Adoption of EMV Chip-and-PIN Systems
President Obama signed an executive order launching BuySecure, an initiative to improve payment security by encouraging the adoption of EMV chip-and-PIN systems. [10/20/14]
- Awkward Moment of the Year for Some Unlucky Waiter
Speaking at the CFPB on chip-and-PIN technology, President Obama told attendees that he recently had trouble with his personal credit card while dining out last month in New York. Use of the card after a long period of inactivity had flagged it for possible fraud. Fortunately, the president's wife had her card on hand, saving what had to be an awkward moment for their server. [10/20/14]
