Links in “Banks”

“After the brutal beating taken in recession years, capital has been replenished, dividends have been restored, marketing investment in the business has resumed...loan losses have returned to more normalized levels,” and the credit card is once again a financial institution's most profitable loan product. [9/22/14]

The agencies are requesting comments on customer due diligence (FinCEN), fixed assets (NCUA), and Regulation C (CFPB). These comments are due during the month of October. [9/22/14]

While TILA provides that borrowers may rescind their mortgage loans within three days, that time period can extend to three years if the creditor fails to make certain disclosures. Some circuit courts have held that borrowers can exercise their right to rescind a transaction under this TILA provision by notifying the creditor within three years of consummation, while others have held that the borrower must file a lawsuit within the three years. The Supreme Court is set to hear arguments in November. [9/22/14]

With constantly changing regulations, it may be more efficient to outsource compliance functions rather than creating an extensive in-house compliance department. [9/22/14]

While it will make fraud more difficult, EMV technology won't make fraud go away. Right now, it's easier for the crooks to go after cards without the enhanced technology of EMV cards. However, as older technologies begin to go away, expect the bad guys to exploit weaknesses in the EMV technology. [9/22/14]

If a disaster struck your institution right now, would you be ready to handle it? In this video, find out how to make your plan ready to be put to the test and learn three elements of a robust disaster recovery/business continuity plan with AffirmX's EVP and Director of Risk Management, Ken Agle. [9/19/14]

With its announcement that 56 million cards were compromised, Home Depot surpasses Target's 40-million-card breach. That said, so far the cost of its breach, estimated at $62 million, is coming in at less than half the Target breach, at $148 million. [9/19/14]

ABA survey finds one in eight Americans depositing a check using mobile devices at least once within the past year, and 80% of those using mobile deposits at least monthly. [9/19/14]

Auto lenders find the CFPB's guidance on its methods for identifying discrimination in auto loans lacking. [9/19/14]

Survey of 54 executives at a risk management conference identifies EMV technology as the most effective in reducing credit card losses over the next three years. [9/18/14]