Links in “Banks”
- Battleground: Rolling Back Dodd-Frank via Spending Bills
The tactic of changing Dodd-Frank via urgent spending bills is either a pathway to solving issues in the financial services area or a hardball way to water down Dodd-Frank, depending on who you talk to. But it appears we have not seen the end of the approach. [12/19/14]
- CFPB v. Sprint: The Bureau Just Got Bigger
The CFPB just added telecommunications to its jurisdiction by filing a lawsuit against Sprint for "cramming," a practice of slipping new fees into consumers' bills for services the customer never signed up for. Of course, everybody wants to cheer the CFPB for that, but did you see what the bureau just did there? [12/18/14]
- Drop in Private Student Loan Delinquencies to Pre-Recession Levels
Report finds that early stage student loan delinquencies dropped to 2.4%, levels not seen since before the recession. [12/18/14]
- International Cyber Warfare
A new set of attacks are allegedly coming in from Iran. They follow attacks by hackers with alleged ties to the U.S. and Israel that seriously harmed Iran's nuclear program. [12/18/14]
- Wake-up Call: Sony’s Data Breach Nightmare
Sony Pictures is reeling in the fallout of its embarrassing data breach, not just because it was breached, but because of the content that is being released. While the business dealings of a movie studio is bound to be of greater interest than the inner workings of most other businesses, the company's recent experience has CEOs of many other industries taking stock of their data security plans and what they would do if they experienced a similar breach. [12/18/14]
- Amex Joining with CFPB in Pilot Program to Promote Consumer Saving
An American Express trial program will seek to promote regular savings behavior for prepaid card users by creating a subaccount dedicated for savings within their main prepaid account. Amex has agreed to share insights from its program with the CFPB. [12/17/14]
- De Novo Banks: FDIC Signaling a Thaw?
A Q&A offered by the FDIC signals a potential thawing of its freeze on de novo banks. But don't expect a gold rush of new applications. Today's regulatory burdens are just one reason. [12/17/14]
- Foreclosure Relief for Servicemembers Unanimously Approved
Both the Senate and House unanimously approved a bill to extend until January 2016 protections from foreclosure to servicemembers for one year following their return from active duty. [12/16/14]
- Was Ocwen Cherry Picking Loans for Compliance Review?
Ocwen workers who picked loans for review weren't independent from management, which may be sloppy or "could be more." A federal monitor is looking into a whistleblower's report. [12/16/14]
- When Fraudsters Mimic Transaction History, What’s Next? Voice!
Fraudsters recognize that they need to pay attention to transaction history in order to make their transactions escape detection for as long as possible. Adding voice biometric analysis into the equation may be not only a way to thwart them, but detect who they are when calls are made to confirm their transactions. [12/16/14]
