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News & Commentary
Content tagged with Compliance posted in May 2010
42% of Americans Want Government to Leave Banks Alone
News  |  5/27/2010
Survey of 1,000 Americans found that only 26% want to see more government involvement in financial services.
Obama, Bank Lobbyists React to Passed Senate Bill
News  |  5/21/2010
In a major step toward passage of finance reform legislation, late yesterday the Senate passed its 1,566-page version of Wall Street/bank reform. The House and Senate still have to reconcile their two versions of this legislation before it can be enacted, but it seems likely this work will be completed well before the fall elections. Broad measures in the Senate version
FDIC Wants Banks to Draft a 'Living Will'
News  |  5/12/2010
Under a new proposal from the Federal Deposit Insurance Corp., banks would draft a "living will" of sorts, The Wall Street Journal reports.

United American Bank Steps Up Fraud Detection Effort
News  |  5/10/2010
San Mateo, Calif. commercial bank has purchased software to help it detect suspicious activity and mitigate financial crime, as well as ensure compliance with the Bank Secrecy Act.
Citigroup Denies Human Error Contributed to Wall Street Tumble
News  |  5/7/2010
Thursday's dramatic drop in the stock market and subsequent recovery left some theorizing it was human error that led to the Wall Street drama.

Get A Grip on Legal Holds
News  |  5/6/2010
By Jorge Rey The financial industry has been experiencing a dramatic up-tick in litigation due to the economic recession. With record high defaults, foreclosures and the extreme devaluation of property and assets people have turned to lawsuits as one option to mitigate their financial losses. In anticipation of these issues, lenders should take a proactive approach and develop legal hold policies and procedures. You may be tempted to push the creation of a legal hold p
Senators Critique Their Own Finance Reform Bill
News  |  5/6/2010
The Senate passed an amendment to the Financial Stability Act yesterday (called the Boxer Amendment for Senator Barbara Boxer of California, who introduced it) that attempts to banish the concept of "too big to fail" from the government lexicon. But there was also broader debate about the bill, and some Senators brought up interesting criticisms of it.

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