Content tagged with Compliance posted in June 2012
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'High Roller' Online Financial Fraud Ring Robs Big Money Bank Accounts
Attackers do their dirty work from their own cloud-based server infrastructure rather than on the victim's PC in order to camouflage the crime.
CFPB to Examine Mobile Payments
The regulatory agency said it is going to examine the potential harm for consumers around mobile payments.
Big Banks Craft 'Living Wills' in Case They Fail
Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.
Bank Bailout to Spark Firesale of Corporate Spain
The European bailout for Spain's banks will push them to sell an empire of stakes in the nation's top companies, ending a cozy culture of corporate-banking links and prompting a wider shake-up in ownership of the company landscape.
Dodd-Frank, Two Years Later: What Has It Meant for Bank IT?
As more provisions of Dodd-Frank go into effect, how have banks responded to comply to the new regulations? What are some technologies they are adopting to help?
Moody's Set to Cut Top Global Banks Thursday
Ratings agency Moody's will announce its downgrades of many of the world's biggest banks later on Thursday, Sky News reported.
JPMorgan Sold Most of 'London Whale' Position
JPMorgan Chase & Co has sold as much as 70 percent of the controversial position that caused huge trading losses for the bank, CNBC reported on Wednesday.
Kicking the Bank Fee Habit
The future of banking will be based on profitable customer relationships, not transaction-based fees. But can banks really adopt a new -- and healthier -- business model?
CFPB Debuts New Credit Card Consumer Complaint Database
The database will compile and track consumer complaints to prevent credit card fraud.
Three Banks Shuttered by Federal Regulators Last week, FDIC says
Closures bring the total number of US banks shut down by regulators this year to 31.
French Banks to Continue Retreat After Greek Vote
French banks, the top foreign lenders to Greece, are expected to continue their quiet retreat from the debt-wracked country after Greek voters gave a slim majority to parties supporting the international bailout that
keeps it afloat.
The Next Generation of Rewards Programs
How banks can leverage rewards programs in the midst of consumer privacy debates and changing regulatory waters.
JPMorgan Bets Sent False Signals to Wider Debt Market
JPMorgan Chase & Co's disastrous bets on corporate debt may have caused unexpected collateral damage: erratic behavior in a barometer that measures the financial health of blue-chip U.S. companies.
Dimon Says JPMorgan Failed to Rein in Traders
JPMorgan Chief Executive Jamie Dimon will tell lawmakers that the bank's recent multibillion-dollar trading loss occurred because poorly managed traders embarked in January on a misguided hedging strategy they did not fully understand.
How the SEC Could Pursue A Case Against JPMorgan
JPMorgan Chase's failure to timely disclose a major change in how it measured risk could become the centerpiece for an enforcement action by U.S. securities regulators as they probe the bank in connection with its multibillion dollar trading loss.
Mr. Dimon Goes to Washington
Jamie Dimon will be playing a new role in Washington this Wednesday, called to explain JPMorgan's recent trading debacle after years of being known as the Wall Street banker who got it right during the financial crisis.
Global Regulators Chide EU on Bank Capital Rules
Global bank regulators warned the European Union it risked watering down agreed bank capital rules designed to avert another financial crisis and called for more consistency in implementing the regulations.
New SAI Global Compliance Software Aids With CFPB Audits
The addition to the Compliance 360 program conducts automated self-assessments designed to keep banks in line with the bureau's regulations.
U.S. Judge Cancels Apple-Google Phone Patent Trial
A federal judge canceled a scheduled June
11 trial between Apple Inc and Google Inc's
Motorola Mobility unit over patents related to mobile phones and
tablet computers, and expects to dismiss both sides' cases
because neither can prove damages.
Banks Told to Go For Radical Rethink
Banks need a radical overhaul to boost profitability against the backdrop of tougher new rules and a grim economy - and they expect their customers to share some of the pain.
Bernanke Offers Few Hints of Fed Stimulus
Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. central bank was ready to shield the economy if financial troubles mount, but offered few hints that further monetary stimulus was imminent.
JPMorgan Chase Remains Number One Bank by Asset Size
Financial information firm SNL Financial ranked the top 50 banks by asset size for the first quarter of 2012.
Mobile Payments, Regulatory Headaches and Slow Growth: Top Quotes of the Week in Banking
Every week in the financial services industry, there seems to be chatter about increasing regulatory pressure, the slow economy and the potential of mobile payments. This week is no different.
U.S. Regulator Looking at JPMorgan Clawbacks
U.S. bank regulators will review whether JPMorgan Chase & Co executives should have to give back compensation due to the bank's failed hedging strategy that has produced at least $2 billion in losses, the head of the Office of the Comptroller of the Currency said.
Baby Steps to E.U. Bank Union Come Too Late For Crisis
The European Commission will propose far-reaching powers for regulators to deal with failing banks on Wednesday, a step towards the banking union the
European Central Bank has demanded to secure the euro's future.
SEC Says Taking "Close Look" at Zombie Funds
U.S. regulators are looking at so-called zombie funds where money managers continue to get paid from investors even though the fund is essentially inactive, a top Securities and Exchange Commission official said
on Sunday.
European Central Bank to Hold Fire For Now as Crisis Rages
The European Central Bank is expected to hold its nerve and leave interest rates at 1.0 percent when it meets on Wednesday, as it presses political leaders to come up with a solution to the euro zone's raging debt crisis and avoid a breakup of the currency.
JPMorgan Not Triggering Major Regulatory Rethink
U.S. bank regulators are holding daily, high-level calls to try to understand how a seemingly low-risk unit at JPMorgan was able to amass a $2 billion trading loss, but there are no immediate plans to revamp how the nation's largest banks are supervised, according to a source familiar with the matter.
Industry Groups Seek to Operate .bank and .insurance Domain Names
The American Bankers Association and The Financial Services Roundtable announced they have applied to the Internet Corporation for Assigned Names and Numbers (ICANN) for the right to operate two new Web domains.
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Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.
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