Links in “Banks”
- The Key to Cracking the Compliance Code…
...is understanding the reason behind the regulation. That was one of five key takeaways from a conference on the mortgage industry. (See also Ken Agle's 2-part series, "Those Who Do Remember History.") [3/19/15]
- ABA to Congress: One Federal Breach Law, Not 50 State Laws, Please
ABA's cybersecurity head testifies before the House that the industry is fully behind the need to protect the cybersecurity of the nation, but that one uniform federal breach law is needed in place of disparate state laws. [3/19/15]
- Where Regulatory Overkill Hurts the Most
A trade group tells Congress that regulatory overkill is hurting the very people it is meant to help by pushing would-be homeowners into the rental market and thereby driving rents up, raising the fees for low-dollar loans, and making it hard for people like teachers and doctors to obtain a mortgage for relocating to a new town. [3/19/15]
- Yellen: You Can’t Regulate Bank Culture
Fed Reserve Chair Janet Yellen admits that regulators can change the culture of the institutions they oversee, but they can make sure they have "appropriate compliance regimes in place." Take that how you want. [3/19/15]
- Community Banks to Congress: Enough with the Regulatory Avalanche
A community banker testifies before the House Financial Services Committee that the avalanche of new rules, guidance, and ever-changing regulator expectations is hurting small banks far more than local economic conditions. [3/18/15]
- ABA to CFPB: You’re Going Too Far on Mortgage Servicing Rules
ABA tells the CFPB its mortgage servicing rules have already gone beyond the requirements mandated by Dodd-Frank and that its current course is causing banks to recalculate the minimum number of loans they need to service in order to remain a viable business proposition. That means further consolidation in the industry, which is bad news for the very consumers the bureau is meant to protect. [3/18/15]
- Shouldn’t Filing a SAR be Enough?
Not according to this DOJ official, who suggests that in some cases, filing a SAR is not enough, and institutions should take additional measures to alert law enforcement about the problem. Here's why that's a problem. [3/18/15]
- Is CFPB Credit Card Study a Precursor to Crack Down?
The CFPB is releasing a study on how financial institutions handle debts that charged off or sold and how ability-to-repay standards are being applied to credit card applicants. Industry observers expect that the study is a precursor to a crack down in the credit card market. [3/18/15]
- Community Banks to Congress: Enough with the Regulatory Avalanche
A community banker testifies before the House Financial Services Committee that the avalanche of new rules, guidance and ever-changing regulator expectations is hurting small banks far more than local economic conditions. [3/18/15]
- Raise Your Hand if You Expect to be Hacked in the Next 12 Months
You're not alone. A recent poll of security professionals found that 52% believed their organization will likely be successfully hacked in the next 12 months, compared to 39% in 2013. [3/17/15]
