Links in “Banks”

Prohibitions against requiring students to open an account or access devices offered by a specific bank and against overdraft or point-of-sale fee arrangements between colleges and third-party providers are among the restrictions proposed by the U.S. Department of Education. [5/21/15]

The FDIC is said to devote 75% of its supervisory efforts to community banks that hold 13% of the industry's assets, drowning smaller banks in "torrential compliance costs." [5/21/15]

According to a recent report, the most common method retailers use to identify an advanced cyber threat is "a gut feeling." And that gut is a bit sluggish. It takes retailers an average of 197 days to identify that they've been hit, and 39 days to contain it. How do financial institutions do in comparison? [5/20/15]

CFPB goes after PayPal for acts it deems "deceptive" and "abusive." PayPal will pay $15 million to consumers and a $10 million penalty. [5/20/15]

When regulators talk about the root causes of the problems in a financial institution's Bank Secrecy Act and Anti-Money Laundering programs, invariably the cause that comes out at the top of their list is a weak culture of compliance. FinCEN has highlighted six hallmarks of an institution with a sound compliance culture. [5/19/15]

"Card cracking," a scam targeting the 19 to 25-year-old crowd, uses social media to invite consumers into making "easy money" online by allowing a third-party to make a fraudulent withdrawal, then reporting the card as lost or compromised. The action earns the consumer a few bucks and the label of accomplice. [5/19/15]

Pew Charitable Trust releases its third report in a series on overdraft rules and renews its efforts to pressure the CFPB into writing more rules. But here is what Pew is missing in its own reports. [5/19/15]

Here's a summary of key points Sen. Shelby (R-AL) included in the "Financial Regulatory Improvement Act of 2015." [5/18/15]

Four trade associations from the banking and credit union industries unite in this letter to lend their support of the regulatory relief measure before the Senate. [5/18/15]

The line of politicians who make scapegoats of banks is long. [5/18/15]