Content tagged with Compliance posted in March 2009
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Not All "Banksters," Huntington Exec Shows
In banking's darkest hour bankers on the far side of The Pond have collectively been tarnished with the derisory term "bankster."
Geither Calls for "New Rules" with Insurers, Hedge Funds to be Regulated
Critics question government's 'power grab,' as Treasury Secretary says far more regulation needed.
Resignation by Op-Ed; AIG Bonus Recipient Bows Out
It's kind of like "J'Accuse" in reverse. Instead of a writer using a newspaper to challenge the Establishment, as émile Zola famously did in Paris in 1898, we have today a bonus recipient from AIG using The New York Times' Op-Ed column to publicly resign and as a forum to criticize AIG's CEO, Edward Liddy, and the bonus payments generally as "distasteful."
Anger Toward Banks May Be Warranted, But Don't Lose Sight of Bigger Picture
"We're in a government-dependent financial system," said Paul Volcker, former Federal Reserve chairman, adding, "I never thought I'd see the day."
Don't Sweat Small Bonuses, Citizens Told. Small or Symptomatic?
Some recent commentators have reminded those now frothing over bonus payments that the bonuses paid are small in the scheme of things. Today, WNYC radio host Brian Lehrer noted that "no fewer than four"
Using the Tax Code to Punish the 'Wicked'
Maybe there is a voice of reason in Washington after all. Pres. Obama has made it clear that he does not think the proposal by the House of Representatives to tax the bonuses of bank executives at institutions receiving more than $5 billion in bailout money at 90 percent is constructive lawmaking.
Treasury Secretary Dimon?
A column on Bloomberg.com paints an interesting picture of a future without Tim Geithner as head of the Treasury. Columnist David Reilly seems to think all signs are pointing to J.P. Morgan Chase's CEO Jamie Dimon as the most logical successor to Geithner, assuming the current treasury secretary is ousted-which he just might be, considering the heat he has gotten over the AIG bonuses and aspects of the bank bailout.
In Wake of AIG, Obama Calls for More Authority Over Financial Services
Pres. Obama is seeking more "tools" to keep the financial systems out of trouble.
A Bonus of Contention to be Taxed at 90 Percent
The House reacted Thursday to corporate culture that continues to act as if this crisis never occurred by
voting decisively to slap 90 percent tax on bonuses received by executives of companies bailed out by the taxpayer.
State Bank of Hamburg Picks Goldleaf’s Net.Check for Imaging
Centenarian community bank says imaging is part of "radical" IT overhaul.
AIG Uproar Sees Spitzer Weigh In
AIG's $200b bailout should go neither to banks, nor bonuses, says former NY governor.
G-20 Pushing for Expanded Global Regulatory Cooperation
There's nothing like a crisis to show how interconnected the world has really become. If there's one thing the current economic downturn has shown us is that the financial system is truly global.
Finding a Brighter Path to Banking's Future at Davos
By Richard Muirhead, Tideway
When I packed my bags for the World Economic Forum this year, I wasn't sure what to expect. Clearly the 2009 conference would be like no other, evident in the event's title: "Shaping the Post Crisis World." Attendees came to Davos this year not knowing what to expect for the future of the banking industry. An air of anxiety, if not doom and gloom, often hung over the conference center as nervous questions were constantly
A Record 12 Percent of Mortgage Holders in Arrears
Mortgage Bankers Association stats show 3.3 percent of those were in foreclosure at the end of 2008.
Santander Starts Global Student Card Roll-Out
A Spanish university is for new EMV chip-cards, for ID, access and payments.
UBS Silent on Secret Accounts, But New Yorkers Vocal
An executive from UBS AG who addressed a conference on the risks of long-distance business partners declined to answer whether recent revelations of Americans tax-shielded UBS accounts would make U.S. firms reticent to deal with the Swiss bank.
Amex Experiencing the Credit Crisis Blues
The financial crisis is making everyone step back and reassess the way they do things. Take American Express, for example. According to an article in The Wall Street Journal, the financial services company is starting to regret moving away from its long-time policy of offering charge cards to an exclusive group of people it knew could pay off their balances in full every month.
Amid Scandal, Ireland Moves to New Bank Regulation
Irish Leader Brian Cowen unveils Canadian style model with non-Irish oversight.
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