Links in “Banks”

At least, the 10 biggest so far. Experts warn that there may be other massive data breaches that haven’t yet been divulged. [10/6/14]

Beyond the issue of the cost vs. benefits of FinCEN's proposed customer due diligence expansion is the issue that it would provide state and federal law enforcement unfettered surveillance access to small- and medium-sized businesses in a way that exceeds U.S. corporate law requirements and supersedes congressional authority or mandate. [10/6/14]

It turns out to be complicated. JPMorgan's $13 billion settlement last year included $4 billion in consumer relief. The financial institution claims it has doled out more than $862 million in relief through various means. A settlement monitor has to sample loans before confirming JPM is meeting its obligations. [10/6/14]

CFPB's recent action against company accused of disguising referral fee arrangements as advertising fees under a "marketing services agreement" spells the end of this type of strategy to get around RESPA. [10/6/14]

Recently, the FFIEC released last year’s HMDA data. Because HMDA is often a favorite when it comes to regulatory scrutiny, institutions need to perform some self-analysis. In this episode, Ken Agle, AdvisX President, shares with us a few important questions every institution should ask about its HMDA compliance upon the release of new data. [10/3/14]

JPMorgan Chase had been losing its security staff to other banks. Banks are willing to invest heavily in revenue growth, but not so much in the unappealing costs that come with growth. [10/3/14]

First there was Target (40 milion debit and credit cards), then Home Depot (56 million customer payment cards), and now there is JPMorgan Chase, which says contact information for about 76 million households and 7 million small businesses was hacked over the summer. [10/3/14]

The number of bank failures to date this year is 14, compared to 22 last year and 43 during the same period in 2012. [10/3/14]

U.S. Supreme Court may have its third opportunity to rule on the issue of whether disparate impact claims can be considered part of the Fair Housing Act. Two previous cases were settled before the court could rule. The case could also impact disparate impact claims under the Equal Credit Opportunity Act. [10/3/14]

About a third of payday loans are now originated online, but online payday lenders account for about 90% of consumer complaints about payday loans. [10/3/14]