Links in “Banks”
- Professor: Don’t Let Banks Use Arbitration Clauses to Block Consumer Protection Laws
A law professor advocates for consumer protection laws to block class action waivers. He also thinks the industry isn't as enamored with arbitration as it claims. [11/13/15]
- Could the Regulatory Kid Glove Treatment for Online Lenders be Coming to a Close?
Online lenders operate outside the traditional banking system, meaning they also face fewer regulatory restrictions. Lawmakers and government officials have taken a fairly hands-off approach. But that may soon change. [11/13/15]
- Fed Orders California Bank to Beef Up AML
East West Bank in Pasadena, CA, was ordered to gather more information about its customers, including those who are overseas, and to change how it judges the risk of customers. [11/13/15]
- Open Season for DOJ Following Disparate Impact Ruling
Department of Justice official finds that lack of credit in affected communities is the root cause of civil unrest across the country. [11/12/15]
- Most Prone to Follow-up Breaches? Government Agencies
While most organizations redouble their efforts to shore up defenses after a data breach, government agencies seems to be most prone to be hit with multiple data breaches. [11/12/15]
- Point of Agreement in GOP Debate: Nobody Likes Dodd-Frank
Dodd-Frank is an "outrage" (Rubio), "vast overreach" (Bush), and ineffective in solving Wall Street's real problem, which is "too much greed" (Kasich). [11/12/15]
- Two Bad Signs for Big Banks in GOP Debate
Even the business-friendly candidates freely criticized big banks and many seemed ill-informed about the current system. [11/12/15]
- Was the Anti-CFPB Ad Too Over the Top?
Though undeniably well-done, an Orwellian anti-CFPB ad that ran during the Republican presidential debate last night was so over the top, it is likely to backfire, some observers believe. (Yes, those are pictures of CFPB Director Cordray and Sen. Warren on the large red banners in the back.)Â The ad, which portrays the CFPB as a Stalinist nightmare, ends with the message "Tell Congress to stop the CFPB." (See the ad here.) [11/11/15]
- “Like Drinking Freaking Vodka in Russia”: U.S. Busts Trio Behind JPMorgan Breach
Remember that breach of more than 83 million customers of JPMorgan Chase & Co. in 2014? The U.S. has charged three men with the crime. One of their schemes: They bought penny stocks, then used the stolen data to email likely buyers to persuade them to purchase the stocks, thereby driving up the price. Then the trio would cash out, leaving investors with significant losses. Was it difficult? "It's like drinking freaking vodka in Russia," one of them bragged. [11/11/15]
- How U.S. Banks Honor Veterans
U.S. banks honor veterans and their families with more than just words. Here are some programs banks offer their service members as they transition back into civilian life. [11/11/15]
