Links in “Banks”

By the end of 2015, it is expected that there will be more than 575 million EMV chip cards in the U.S., or one in two of U.S. payment cards. [8/14/14]

A loan modification requires minimal new disclosures, whereas a loan refinancing requires the whole ball of disclosure wax. As such, it's imperative to know when modifying the terms of an existing loan results in a modification or a refinancing. Here's some guidance on the matter. [8/14/14]

A survey of small- to mid-sized financial institutions finds 26% very likely and 8% somewhat likely to change AML providers in the next 2-3 years. [8/13/14]

A report conducted by the Center for Financial Services Innovation (CFSI) revealed that the underserved (including minorities) are 50% more likely to pay higher "time costs" for cash access, amongst other findings. [8/12/14]

No, we're not just talking the World Cup losses. Brazil's unique Boleto payment system, which is used for 100% of business-to-business payments, made it the ideal target for cyber criminals, who have potentially stolen $3.75 billion. [8/12/14]

Undaunted by more sophisticated currency, counterfeiters continue their efforts to produce higher quality bogus bills to slip into the economy. More than $88 million in counterfeit currency was confiscated in 2013, an increase of 9% over 2012. [8/11/14]

The Wall Street Journal reported changes to credit scoring that might give some consumers a fresh start: credit scoring will no longer include documentation of late or failed payments for debts that have been paid or settled. Will this improve credit access at your credit union? [8/11/14]

During the Great Recession, home equity lines of credit were quite popular with consumers—the majority of HELOC balances left at the end of 2013 were originated during this time. Those HELOCs created between 2005 and 2007 often had 10-year draw periods, which means the balances will come due soon. A study by TransUnion reveals these consumers may experience "financial" shock when their end of draw periods end. [8/11/14]

While tech won't remove the need for the human touch, it will be necessary for banks to adapt or die. The use of video ATMs, which use a two-way screen to permit customers to have direct assistance from bank personnel in remote locations, is one example. Here are others. [8/11/14]

Total average cost of a data breach in 2013 (not counting the Target breach) comes in at $5.4 million. Here's how it breaks down. [8/11/14]