Links in “Banks”
- Historically Low Interest Rates = Historically High Fees
ATM, overdraft and monthly maintenance fees climbed to new heights this year. [10/1]
- FDIC Hones in on Merchants Engaged in Higher Risk
Key need for FIs to complete risk assessments to search out those commercial customers that engage in higher-risk activities (high rates of return, high rates of unauthorized transactions, consumer complaints, or evidence of state or federal regulatory or criminal actions against the business customer). Expands policing requirements of FIs on their customer base. [10/1]
- Current AML Efforts Barely Making a Dent in Estimated $2â$3 Trillion Annual Laundering Total
It is estimated that current AML techniques are only able to detect and stop $170 million in money laundering activities annually. [9/30]
- Disparate Impact: Waiting on the Supreme Court
How will qualified mortgage rules affect disparate impact analyses? Lawyer suggest holding out for Supreme Court to weigh in on the matter. [9/30]
- FDIC Eases Pressure on Banks Dealing with Online Lenders
In response to lawmaker and industry concerns about shutting down even fully compliant online lenders, FDIC issues letter saying that institutions that correctly manage their third-party relationships "are neither prohibited nor discouraged" from processing payments for legal entities. [9/30]
- Poll Results: Are JPM Fines a Witch Hunt Or Is It Getting Off Easy?
Informal poll results of American Banker readers may surprise you. [9/30]
- Bank Employee Opens Accounts for Accomplices in Fraud Ring
Defendants stole more than 2,000 identities and attempted to collect more than $20 million in bogus tax refunds laundered through accounts; 22 arrested and 33 remain at large. [9/30]
- Chicago-Area Straw Buyers Scheme Nets Indictments for 11
Scam involved persuading straw buyers to submit false documents and persuading homeowners to tell lenders they were selling their homes at falsely inflated prices. [9/27]
- Fake Bank in Florida Swindling Consumers with Bogus Credit Card Offer
Going by the name of "AmTrade International Bank," fake bank instructs victims to send checks to receive a semi-secured credit card. [9/27]
- Robocop: FTC’s New Rules on Robocalls Soon to Take Effect
Effective October 16, 2013, the FTC will implement two significant changes to the 1991 Telephone Consumer Protection Act (TCPA). Here is what you need to know. [9/26]
