Links in “Banks”

Citibank still beats earnings estimates, despite its $7 billion settlement with the DOJ regarding claims of defrauding investors with its mortgage securities. [7/15/14]

Where you store your data is a key factor in shielding it from prying eyes. Here are some factors you should weigh before making that decision for your corporate and customer data. [7/15/14]

As vital as websites are for financial institutions, they are becoming high-profile targets, not just for regulators, but for industry watchdogs and consumer advocate groups. Yes, balancing an effective website and a compliant website is a difficult task. However, we’ve put together a list of the five most common website mistakes we see to help your institution improve the compliance aspect of its website. [7/15/14]

Mobile apps that allow customers to deposit checks via their smart phones are a boon for both banks and their customers. But if history is any indicator, fraudsters will soon be seeking to take in a piece of that boon. How can financial institutions prepare? [7/14/14]

Some mortgage brokers have been switching to a "mini-correspondent" model, and the CFPB is worried that these institutions—rather than intending to grow into a full correspondent model—believe that this status makes them exempt from consumer protection rules regarding broker compensation. Cordray stated that “they cannot avoid those rules by calling themselves by a different name.” [7/14/14]

According to 2010 data from the Small Business Administration, 99.7% of all businesses operating in the US were small businesses, 90% of which were microbusinesses. However, the needs of these small business that typically require no more than $35,000 in start-up capital and employ five or fewer employees are often overlooked by the banking industry. [7/14/14]

Some states, such as New York, California and Massachusetts, are leading the charge in conducting cybersecurity audits of banks. Some are finding smaller banks to be lagging behind their larger counterparts. [7/14/14]

Emboldened by recent court decisions, more cities and counties are filing "predatory lending" cases under the Fair Housing Act using the claim of disparate impact. Claims involve traditional redlining (excluding minority areas) or reverse redlining (targeting minority areas for high-cost loans). [7/14/14]

Wells Fargo will no longer order deposited checks in order of highest amount to lowest amount, which often resulted in overdrafts and angered consumer activist groups. Beginning Aug. 11, checks will be posted based on the date and time they're received. The move comes after a federal judge ordered the bank to pay a $203 million fine. [7/14/14]

Although cybersecurity is a relatively new topic, there is already a healthy mythology about how to do it properly. Unisys President Bob Olson dispels 5 myths about bank IT security. [7/11/14]