Links in “Banks”

In her final column for American Banker, resigning editor Barbara Rehm calls for a truce between the banking industry and its critics, in recognition that the nation is in a much safer place than it was in 2008 and that we need a workable system that is not punitive and is mutually beneficial. [12/20]

Either definition requires meeting the level for last two consecutive years: "small bank/savings association" means assets of less than $1,202 million and, therefore, "intermediate small bank/savings association" $300 million to $1,202 million. [12/20]

Reports of breach that began on Black Friday and lasted until Dec. 15. 40 million shoppers at Target's physical stores may have been targeted. [12/19]

Test of 275 banking apps from 150 financial institutions finds 8 in 10 improperly configured and not using best practices software development. [12/19]

Social media interaction with customers expected to receive greater scrutiny; banks should have support in place to handle customer service requests through Twitter and Facebook. [12/19]

Using technology in financial institutions is a double-edged sword. On the one hand, it exponentially increases efficiency and accessibility; on the other, insufficiently trained technology staff often fail to prevent security breaches. Attorney Anthony Hendricks gives sage advice on how to avoid the potential problems ushered in with growing technologies. [12/18]

One of a community bank's greatest strengths, relationship banking, can also be one of its biggest downfalls when it comes to anti-money laundering monitoring. [12/18]

When agencies issue "policy statements" or other guidance that may not be specifically within the scope of a regulation, challenging actions based on that guidance can result in prolonged battles with agencies and the courts, as a real estate agent recently found out. [12/18]

Agency seeks comments on plan to reduce maximum size of loans that Fannie Mae and Freddie Mac can purchase from mortgage lenders by 4% to $400,000 for most purchases and $600,000 in high-cost areas. [12/17]

Bank lawyers suspects that CFPB's recent field hearing on arbitration waivers is merely another exercise in "finding facts" to support a foregone conclusion. Another take here. [12/16]