Links in “Banks”
- New Competition in the Underbanked Market: The Post Office?
Debit cards, remittances and loans to the underbanked could be offerings available at your local post office, if an idea floated by the Office of the Inspector General to increase revenues is adopted. [1/28]
- Basketballs and Waterfalls: Optimizing Your AML System
NB Risk's Ken Agle shares how a waterfall model and an analogy to coaching a major college basketball program can help financial institutions seeking to optimize their anti-money laundering systems to reduce noise and increase efficiencies. [1/27]
- Review of CFPB Complaint Database Suggests Remittance Transfer Rule Changes Unlikely
Industry observer foresees no material changes to the CFPB's remittance transfer rule before 2018 based on a review of the bureau's consumer complaint database, which indicates that 74% of the complaints were "closed with explanation." [1/27]
- Second Bank Failure of 2014
The Bank of Union in Oklahoma was closed Friday, and the FDIC was able to find a buyer: BankFirst of Oklahoma City. [1/27]
- Crunching Big Data to Detect Fraud Before the Money Was Lost
Wall Street Journal article describes efforts by Visa to use big data techniques to identify at least $2 billion of fraud activity annually before the money was lost. [1/27]
- $20 Billion in Penalties Later: JPM Gives Raise to Its Chief
Despite $20 billion in penalties that JPMorgan paid last year to federal authorities, the bank's board votes to give chairman and chief executive Jamie Dimon a raise as a reward for his stewardship through such a difficult period. [1/24]
- Treasury Secretary: Bitcoin’s Anonymity Offers Places for People to Hide
Treasury Secretary Jacob J. Lew calls for more time to assess Bitcoin to make sure it does not become an avenue to fund illegal activities, such as terrorism. [1/24]
- Card Fraud Wars: Banks Outperforming Retailers
Study shows credit card fraud is highly pervasive, but banks top retailers in prevention, detection and resolution, indicating "inattention to factors that could help to lower" the overall incidence of card fraud on the part of retailers. [1/24]
- Retailers Blame Bankers for Security Breaches, Bankers Strike Back
ICBA expresses its outrage over National Retail Federation's letter blaming the financial services industry for recent high-profile data breaches, says the NRF should focus its efforts on responding to the harm the security breaches have done to consumers and their financial institutions. [1/23]
- Regulatory Relief Bill Gaining Support in Congress
ICBA reports that regulatory relief legislation, the CLEAR Relief Act, is gaining bipartisan support in both the House and Senate. [1/23]
