Links in “Banks”
- Industry Group Launches Effort to Reduce Call Report Burden
The ICBA petition calls for allowing healthy banks to file a short-form call report for the first and third quarters. [7/29/14]
- New HMDA Proposal: Reporting Burden Going Up
Institutions originating fewer than 25 mortgages annually would not be subject to HMDA reporting requirements. But for other institutions, the reporting burden is going up, including a quarterly reporting requirement for certain institutions. [7/29/14]
- FDIC Delivers Blow to Operation Choke Point
Department of Justice's "Operation Choke Point," a controversial program to make access to the financial system difficult for certain businesses, has been dealt a blow by the FDIC, which has withdrawn a list of merchant categories that it said warranted heightened attention by banks. The list, including payday lenders, debt consolidation firms, pornography businesses and others, had been misinterpreted, resulting in banks severing ties with legitimate businesses in those industries, according to the FDIC. [7/29/14]
- CUs and Banks Take Different Approaches to Subprime Auto Loans
The market in subprime auto loans is booming. Banks appear to be heading down the same path as they did with subprime mortgages: high rates coupled with insufficient consideration of the borrowerâs ability to repay. Not so with credit unions. [7/28/14]
- Why Postal Banking Is a Bad Idea
Postal banking isn't new. In fact, USPS offered banking services from 1910 to 1967. Here's why it would be a bad idea to bring it back. [7/28/14]
- Western Europe Battling GOZeuS and Cryptolocker Malware
GOZeuS and Cryptolocker malware enable cyber criminals to access bank login credentials, which they have used to steal millions over the last few weeks. Banks in the U.S. are not immune. [7/28/14]
- What If IKEA Ran a Bank?
Actually, it does. And Sweden's Ikano Bank operates on many of the same principles as its retail counterpart. [7/25/14]
- Regulatory Relief Act Turns One, Still Stuck in Congress
The Community Lending Enhancement and Regulatory (CLEAR) Relief Act (S. 1349) celebrates its one-year anniversary, but remains a work in progress in the Senate, along with its companion bill in the House. [7/25/14]
- Banks Win the Consumer Trust War
Survey finds that 58% of consumers believe banks do a better job of safeguarding data than retailers, governments, or law enforcement agencies. [7/25/14]
- New York Moving Toward BitLicense
The state is proposing licensing dealers of virtual currency, including strict anti-money-laundering safeguards and consumer protections. [7/25/14]
