Links in “Banks”
- List of Recent CRA Examinations Released
The FDIC released a list of the banks recently evaluated for CRA compliance. Take a look to see how other banks are doing and what examiners are focusing on. [9/5/14]
- Oversight Expectations for Boards of Big Banks Dialed Back
OCC's final rule replaces "duty" of boards to "ensure" their banks are following risk management rules to "actively oversee" and "require" banks to take appropriate steps. The shift is subtle, but is designed to avoid scaring off potential board members due to heightened liabilities. [9/5/14]
- Media (and CFPB) Attention on the Bounce from Bank to Non-Bank Servicing
Bloomberg reports a family's plight as their in-progress modification got lost in the shuffle of a mortgage deal between Bank of America and Nationstar Mortgage. "Regulators never anticipated their servicing rules would be dodged by banks simply by selling off their mortgage servicing business to ... nonbank companies." [9/4/14]
- Industry Group Calls for Better Community Bank Outreach on Regulation Review
Hoping to avoid a repeat of the first Economic Growth and Regulatory Paperwork Reduction Act effort 10 years ago, which did little to reduce regulatory burden, the ICBA is calling on the agencies to get more community bank input and to appoint a director who can resolve interagency disputes. [9/4/14]
- EMV Cards Expected to Push Fraud Losses Up; Here’s Why
"Card not present" fraud expected to increase as EMV implementation rolls out, which could start shifting consumer wrath from physical retailers to online retailers. [9/4/14]
- Vendor Management: How Much Is Too Much?
While vendor management is a vital part of banking today, it is possible to push that relationship scrutiny too far. The trick is to find the right balance. [9/4/14]
- Malware on Vendor’s System Source of Goodwill Breach
Criminals accessed 10% of all Goodwill stores through malware placed on a third-party vendor's system. The breach lasted as long as six months at some stores. [9/4/14]
- Evans Bank Redlining Case a Harbinger of Other Lawsuits?
New York is taking aim at Evans Bank, alleging that the regional lender in the Buffalo area is denying mortgages in certain African-American neighborhoods regardless of applicant credit. Sources say it is a harbinger of other lawsuits that could be brought against other banks. [9/3/14]
- Are Credit Unions Vulnerable to APTs?
Thatâs "advanced persistent threats," like the one that hit JPMorgan Chase. APTs differ from ordinary hacks because the hackers start with a specific target and stick with it, sometimes for months, until theyâre able to penetrate it or until theyâre called off by their masters. [9/3/14]
- Home Depot Breach May Dwarf Target Breach
Home Depot appears to be the latest target of a security breach. Credit card info was offered for sale on an underground site that traffics in stolen financial information. The data were labeled "American Sanctions," which suggests it was intended as retribution for sanctions against Russia. [9/3/14]
