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News & Commentary
Content tagged with Compliance posted in July 2010
Q&A: Martin Zorn, CAO, Tennessee Commerce Bank, on Dodd-Frank and on Building New Mobile Banking Apps
News  |  7/27/2010
To prepare for new regulations, chief administrative officer Zorn is analyzing IT and other departments for places to squeeze efficiency out of the system. At the same time, he's creating mobile banking apps and seeing use of mobile deposit capture grow.
Credit Scores Aren't Broken, But Are Being Enhanced With New Analytics
News  |  7/22/2010
Dr. Andrew Jennings, Chief Research Officer, FICO The recent economic crisis has led some to wonder whether analytics that measure consumer credit risk are fundamentally broken. I can reliablystate that they're not broken - the robust measures, such as the FICO score, still rank-order consumers by credit risk.
Q&A: Brian Ware, SVP Compliance at FNCB, on How Dodd-Frank Will Affect Bank IT Departments
News  |  7/21/2010
The law will place a greater administrative burden on banks, accelerate their online projects and automation of account opening, and perhaps cause more risk because of that, Ware believes. The silver lining: the bill should provide job security for compliance experts.
Data Management at Heart of New Regulation
News  |  7/20/2010
Among the changes sought by new financial regulation, data protection and integration requirements to reduce risk and improve reporting will drive change in bank IT policies, according to a report from Deloitte.
Bank Execs Plan to Revise Long-Term Strategies Post Dodd-Frank, Survey Shows
News  |  7/19/2010
Two-thirds anticipate an increased focus on growth.
Q&A: Banking Attorney Winthrop Brown on How the Dodd-Frank Bill Will Affect Banks
News  |  7/16/2010
Bankers should help regulators draft their new rules under the law, the Milbank Tweed partner says.
Reactions to Dodd-Frank Law Run A Gamut from Enthusiasm to Disgust
News  |  7/16/2010
Government and industry leaders were quick to react to the Dodd-Frank Wall Street Reform and Consumer Protection Act, which passed yesterday afternoon in a Senate vote and which President Obama promised to sign into law right away.
New BofA Account to Charge for Paper Statements, Tellers
News  |  7/15/2010
Bank of America plans to offer an online bank account that charges an $8.95 monthly fee if a customer receives a paper statement or goes to a teller, as it looks for ways to make up for income lost because of new regulations. The new account will steer customers toward using ATMs and online banking rather than branches. The bank is also phasing out its free checking program for college students. Its other checking accounts carry monthly fees unless the customer maintains a certain balance or mee
Why Must Finance Reform Cost $19 Billion?
News  |  7/1/2010
Yesterday Congress got rid of a large-bank tax that would have raised $19 billion to pay for the new sweeping financial legislation that has passed the House and will be put to vote in the Senate sometime after July 4. It is easy to understand why Congress dropped this assessment - Republications said they would not pass the law with the bank tax in it. The legislation will now be paid for with unused TARP funds and higher FDIC assessments.

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