Links in “Banks”
- Open Source Code Available to List HUD-approved Housing Counselors
CFPB makes available open source code to allow lenders to integrate into their websites a tool that can help consumers find local HUD-approved housing counselors, a move that may help lenders comply with housing counseling requirements under Dodd-Frank while reducing the amount of paper given to mortgage applicants. [3/11]
- Is OpenID Connect the Wave of the Future?
What if your app didn't have to store and manage passwords on your own servers, but outsourced the authentication of users to companies like Google or Microsoft, who would be in charge of continually investing in sophisticated authentication infrastructure and abuse detection? [3/10]
- Rumors of Bitcoin’s Demise May Be Exaggerated
After events of the past few weeks, one would think Bitcoin would be quickly on its way out. But after its price increased more than $100 after falling steeply in the wake of the Mt. Gox collapse, one might have to rethink that. [3/10]
- Critical Activities: Complying with OCC’s Vendor Due Diligence Requirements
A look at the guidance concerning third-party relationship requirements, including "critical activities" that have a major impact on bank operations, released by the OCC. [3/10]
- The Cost of a Lack of Checks and Balances at CFPB
The deliberate lack of oversight in the CFPB's design is showing signs that a system of checks and balances may not be such a bad idea after all. [3/10]
- New FICO Scoring Model to Analyze Consumer’s Post-Recession Data
FICO plans to release new scoring model designed to take into account how consumer spending and credit habits have changed now compared to six years ago. [3/10]
- Force-Placed Insurance: The Domino Effect
The 2012 law to stabilize flood insurance could have the unintended consequence of dramatically increasing the price of coverage for borrowers in flood insurance, which could result in more borrowers failing to have insurance, requiring lenders to force-place coverage, resulting in more regulatory heat on lenders. [3/7]
- Who’s Next? Target Begins Search for New CIO
Search begins after CIO and EVP of tech resigned this week following the massive data breach that took place late last year. [3/7]
- “Why Didn’t Your AML Monitoring Catch This?”
Regulators aren't looking for money laundering, they're looking for faults with controls in place. [3/7]
- Wells Fargo Latest to Settle Forced-Placed Insurance Issue
WF doesn't believe it did anything outside the terms of the mortgage agreements and applicable laws, but settles cases to avoid protracted litigation. [3/7]
