Links in “Banks”

According to a survey by CrediCards.com, consumers ages 18 to 29 prefer using credit cards 51% of the time, even for purchases under $5. That reflects a dramatic difference from the 65 plus demographic, who prefer cash 82% of the time. [8/28/14]

Or so says one blogger. According to Eric English, CISSP, industry compliance requirements should be treated as a "baseline, not necessarily the best way of responding to a potential problem," especially when it comes to cybersecurity. [8/28/14]

FBI is investigating whether Russian hackers stole gigabytes worth of sensitive data from JPMorgan Chase and another bank using techniques far beyond the capabilities of ordinary criminal hackers. The attacks may have been in retaliation for government-sponsored sanctions. [8/28/14]

The FHFA's recent "duh" report finding that increasing home prices may be keeping some first-time home buyers out of the market is missing the point. Here are some more likely reasons why first-time home buyers are having a hard time breaking into the housing market. [8/28/14]

Under the initiative, announced by Pres. Obama at the American Legion's national convention, mortgage servicers will actively seek out military members eligible for lower-cost refinancing rather than waiting for them to apply. [8/27/14]

While the Fed proposed to repeal Reg. AA, the federal banking agencies have issued guidance on unfair or deceptive credit practices. The agencies are quick to point out that the repeal of Reg. AA should not be seen as a signal that deceptive credit practices it prohibited are now permissible. This move is more of a changing of the guard. [8/27/14]

Financial institutions are subject to a myriad of good ideas that range from what the industry calls “best practices” to full-blown regulatory requirements. AffirmX's Jane Pannier describes the proposed changes to customer due diligence that will potentially transition it from guidelines to law. [8/26/14]

If Democrats manage to hold the Senate after November's elections, Sherrod Brown, a staunch defender of Dodd-Frank, is a strong contender for the top spot on the Senate Banking Committee. What might that mean for bankers? [8/26/14]

The flexibility and convenience of remote deposit capture makes it a tempting target for fraudsters. Here's some guidance on what you can do to prepare for your next RDC audit. [8/26/14]

Federal Housing Finance Agency settles with Goldman Sachs in which the New York-based company agrees to buy back for $3.15 billion faulty mortgage securities now worth $1.95 billion, resulting in a net penalty of $1.2 billion. [8/26/14]