Links in “Banks”
- New York Judge Proposes Debt Collection Rules
Judge proposes new rules to help New York courts navigate their way through a flood of debt-collection lawsuits. Proposal includes requiring banks and other debt collectors to support the accuracy of the debt claims with more documentation, including the original agreement between the bank and the borrower. [5/2]
- Risk Watch 11: The Waterfall: The Key to Optimizing Your AML System
Many institutions suffer from an overproduction of unnecessary AML alerts. On this episode of Risk Watch, Analyst Cody Knudsen will describe the key to optimizing your AML alert monitoring system: the waterfall model. [5/1]
- Nuclear Winter? A Look at the Possible Outcomes If the DOJ Brings Criminal Charges Against Global Banks
If the global banks got off easy with their multi-billion dollar settlements, will the Department of Justice bring criminal charges, and if so, would such charges spook bank customers and investors, causing far-reaching consequences? [5/1]
- Distressing Stress Test Results
If the nation experienced another 2008-style economic downturn, Fannie and Freddie would likely require another $190B bailout, according to the results of the inaugural Dodd-Frank Stress Test. [5/1]
- Is the Definition of “Unfair” Unfair?
The "unfair" umbrella is being used by regulatory agencies to cover more and more activities they perceive unfavorably. In its motion seeking dismissal of a recent CFPB complaint against it, ITT Educational Services argues that regulated parties do not have fair notice of what constitutes "unfair" or "abusive" acts or practices. [5/1]
- You Must Be Mistaken: The Impact of False Positives on the OFAC List
With most hits on the OCAF list being false positives, this article takes a look at the impact on the relationship between the mistaken customer and the bank, which would typically rather lose the customer than risk big regulatory sanctions. [5/1]
- CFPB: This is How You Auto Do It
To the praise of CFPB's Cordray, BMO Harris Bank has introduced a new flat fee for dealerships of 3% of the amount financed, up to a maximum of $2,000. Cordray called it a "proactive step to protect consumers from discrimination." [5/1]
- CFPB to Tribal Lenders: You Are Still Companies Subject to Civil Investigation Demands
CFPB seeks to persuade California court to enforce its civil investigative demands to three tribally affiliated payday lenders. [4/30]
- Is the FDIC Anti-de Novo?
The FDIC may say this it is open for business when it comes to entertaining applications for de novo banks, but the numbers suggest otherwise. [4/30]
- Target Takes Steps to Rebuild Consumer Confidence
Hires CIO who has advised Homeland Security, Department of Justice and Secretary of Defense. Also announces plan to accelerate implementation of its conversion to cards that store information on embedded chips. [4/30]
