Links in “Banks”

Here is how several banks responded to the Supreme Court's decision to legalize same-sex marriage. [6/29/15]

Scammers encrypt files on infected computers, then demand payment before they provide the key required to decrypt them. Even a police department has recently fallen victim to ransomware and ended up paying the ransom. How to protect your data from ransomware. [6/29/15]

Witnesses in a House Subcommittee hearing allege that the CFPB has the worst track record of all federal financial agencies of protecting its own employees against discrimination. "The CFPB is more concerned with bad press than the underlying problem." [6/29/15]

This novel report tells us that advances have been made in hindering terrorist funding, but that terrorist are seeking new methods of terrorist financing. What new terrorist financing trends does your organization need to be aware of? AdvisX analyst Cody Knudsen brings an analysis of the report and three emerging trends to watch. [6/26/15]

While the U.S. Supreme Court's ruling on disparate impact is giving heartburn to many in the industry, one silver lining is that the court made clear that a disparate-impact case can't rely on just statistics, but must also cite the specific policy that causes the disparate impact. Not much of a silver lining, but it's something. Brace yourselves. [6/26/15]

Despite industry objections, the CFPB added consumer complaint narratives to its database. The feature debuted with more than 7,000 gripe stories. [6/26/15]

Federal Reserve governor tells banks that chip-and-signature cards that U.S. banks are distributing are less secure than chip-and-PIN cards used in other parts of the world. [6/26/15]

The U.S. Supreme Court's decision yesterday in support of disparate impact may have "unintended consequences, such as causing financial institutions to shrink their operations rather than risk litigation, hurting the very groups it is intended to help." [6/26/15]

The U.S. Supreme Court has ruled that disparate impact claims can legally be brought under the Fair Housing Act. Disparate impact means that even if business practices are on their face neutral in regards to the prohibited bases (such as race) if they can be shown to adversely impact a protected group, a legal claim can be brought. This is a big deal. [6/25/15]

The rivalry between "actual business" and "compliance" is heating up, and compliance appears to be winning, with financial institutions like JPMorgan hiring 8,000 compliance people since the start of the financial crisis. [6/25/15]