Links in “Banks”
- Behavioral Patterns Trump Mother’s Maiden Name in Fraud Detection
Personal privacy issues aside, consistency of behavioral patterns (same phone, same general location, same general time) in aggregate is a better risk than asking the consumer for his or her mother's maiden name, which can easily be obtained via social media. [8/11/14]
- Why Increasing Liability of Directors of TBTF Banks Matters to Directors of Community Banks
The push for increasing personal liability of the directors of "too big to fail" banks is likely to trickle down to the directors of "too small to save" banks, which are more at risk of FDIC litigation than their larger counterparts. [8/11/14]
- Booming Subprime Auto Lending Industry = Booming DOJ Attention
Santander Consumer joins General Motors as recipients of Department of Justice subpoenas related to their subprime auto loans, a booming market segment fueled in part by an influx of money from private-equity firms. [8/11/14]
- Risk Watch 24: Proposed Risk-Based Capital Rule: What You Need to Know in Less Than 9 Minutes
Confused or overwhelmed by the volumes of material written about the controversial risk-based capital proposed rule? In the latest episode of Risk Watch, SVP and In-House Counsel Jane Pannier boils it down to what you really need to know in less than 9 minutes. [8/8/14]
- Retail Credit Card Rates Far Exceed Those at Credit Unions
You need to tell your members that the next time their favorite retailer offers them one of their credit cards, they should think twice! A recent survey shows that on average retail card rates are 200 basis points higher than average credit union card rates. The survey noted that lowest retail rate belonged to Office Max at 9.99% APR, while Toys R Us weighed in with a hefty 26.99% APR. [8/8/14]
- TD Bank’s YouTube Video Exceeds 8 Million Views
Sure, the budget of TD Bank's ATM commercial (the "automated thanking machine") exceeds the annual marketing budget for many smaller institutions, but still, gotta hand it to them for this video, which has crossed the 8 million viewer mark. Take 4 minutes out of your Friday to watch. (Grab a hankie.) [8/8/14]
- Real Time “Motorcycle” Banking in Thailand
More banks in Asian countries are switching to real-time core banking systems to accommodate young consumers on motorcycles who "want to be able to start a transaction while riding and finish it at an ATM." [8/8/14]
- Can US Payments Go Faster?
Industry concerns about infrastructure changes needed to accommodate customer demand for real-time transactions notwithstanding, here's how they're doing it in the U.K. and what we can learn from the UK Faster Payments scheme. [8/8/14]
- Asking Applicants about Disabilities Costs Fifth Third $1.5 Million
Justice Department settles with Fifth Third Mortgage Co. to resolve allegations that it asked loan applicants to provide a letter from their doctor to document the income they received from Social Security Disability Insurance. [8/8/14]
- Wrangling Complaints in the Shadow of the UDAAP Beast
In an age when a customer complaint can easily slip into an unfair, deceptive or abusive act or practice (UDAAP) with the flick of an examiner's wrist, your ability to effectively track and manage complaints is paramount. [8/7/14]
