Links in “Banks”

Sometimes the easy path is to show customers in high-risk industries the door ("de-risking"). But there are ways banks can keep profitable high-risk clients in their portfolio without running afoul of regulators. [2/29/16]

Articles like these, which feature a healthcare worker from Queens who had no idea why $96 was disappearing from her account each month, are the kinds of things that are sure to capture the attention of the CFPB. [2/29/16]

The CFPB is publishing advice to consumers on how to avoid overdraft fees, it is publishing data about bank overdraft revenues, and it released its policy priorities that included overdrafts. These are ominous signs for the industry. [2/29/16]

When it was passed as part of Dodd-Frank, the Durbin amendment was predicted to enrich retailers at the expense of consumers and their financial institutions. Now, five years later, those predictions have been fully realized. [2/29/16]

Who knows? "Trump is a wild card," said the president of ICBA. The head of the Utah Bankers Association said that if Trump were a loan applicant, bankers would be reluctant to approve him. "Someone comes in with a lot of talk and not a solid plan, they don't do well in loan committee." [2/29/16]

While reports often cite the prevalence of debt-collection complaints in the CFPB's database, the ACA points out that the debt-collection industry makes more than one billion consumer contacts annually, meaning the 74,000 debt-collection complaints in the CFPB's database represents 0.0074% of the total consumer contacts through 2015. [2/26/16]

The "C" for "consumer" may be too limiting for the CFPB, which is seeking to expand its reach into small business lending, according to its recently released near-term priority goals. [2/26/16]

More about CFPB Director Cordray's speech, in which he asks the financial industry to think of the CFPB as "an important new friend and ally" in helping to serve the financial needs of the public. [2/25/16]

This round-up of cybercriminals who got caught includes an item about a Ukrainian citizen who stole bank credentials and payment card data from U.S. citizens and corporations and used a 13,000-strong botnet and Zeus malware in the attacks. He could be looking at anywhere from two to 20 years. [2/25/16]

ABA announces the $5,000 grand prize winner of its national scholarship competition. Students made videos on the value of saving. Here are the winners. [2/25/16]