Links in “Banks”
- Gary Busey as Bank President?
This commercial spot for Unity Bank is as odd as it sounds. [2/22/16]
- Risk Watch 84: Effective Complaint Management
While receiving a consumer complaint is not a new phenomenon, the way financial institutions are expected to handle complaints is changing and is now becoming a focus for examiners and regulatory agencies. Julie Kappenman of Mountain West Credit Union Association describes the eight components of a sound complaint management process. [2/19/16]
- Mortgage Servicers Describe “Incredible Impact” of Regulatory Requirements
MBA official says he has seen the cost of servicing a loan go from $130 to $195 this year, not because of increased defaults, but due to increased expense associated with new regulation. [2/19/16]
- How Quickly Bad Guys Access Phony Stolen Data from a Fictitious Bank Employee
In an experiment, a company created an online persona of an employee for a fictitious bank, created a phony Google Drive account with fake bank data and credit card files, then embedded with tracking technology. The files were then leaked onto the dark web, where the team tracked how much traffic the files received. Here's what they found. [2/19/16]
- Another Institution Hit by Ransomware Attack
In this case, it was a hospital in Los Angeles. But these attacks against prominent institutions are becoming more common: hackers seize control of a critical computer system then demand a ransom paid in Bitcoin. What did the hospital do? Pay $17,000. [2/19/16]
- Is There a Gender Bias in Credit Scores?
The average credit score for men is 630. The average credit score for women is 621. Is there a gender bias in our nation's credit scoring system? [2/19/16]
- Bankers Group Not Happy with NCUA’s Latest Business Lending Moves
The move to expand the eligibility for the 12.25% cap on business lending is "a blatant disregard for Congress and the thousands of concerned citizens who sent in comment letters to the agency. Also see here. [2/19/16]
- What’s the Deal with Negative Interest Rates?
With the Bank of Japan joining several European central banks in setting a negative rate, what are the chances that that could happen here in the U.S. and what would it mean? [2/19/16]
- More Unintended TRID Consequences: Loans Take 10 Days Longer to Close
Loans now take 50 days to close, up from the 40 days they took this time a year ago. [2/18/16]
- Letting “Too Big to Fail” Banks Fail
There is an argument to be made that letting Darwinism play out with banks considered "too big to fail" is a better way to manage a credit crisis. [2/18/16]
