Another injection of federal money has been given to Bank of America, including $20 billion in cash and $118 billion in loan guarantees, in a move to stabilize the mega-bank and the financial industry.
The Federal Reserve, Treasury and the FDIC cut a late-night deal with the largest U.S. bank, as it faces more...
A group of economists led by former Federal Reserve Chairman Paul Volcker says that more risk management and regulations are needed in the financial markets to prevent another global economic implosion.
Volcker leads an economists group called the Group of 30. In a report issued on Thursday, the body of top...
Last week the NCUA announced the formation of the National Examination Team (NET) to "enhance the supervisory process in areas where economic conditions have adversely impacted federally insured credit unions." Or as I like to think of this move, the FDIC sneezes, and NCUA catches a cold.
Charles Plosser, President of the Federal Reserve Bank of Philadelphia, says he expects the recovery to start slowly in the second half of 2009, but the unemployment rate will continue to rise.
Financial institutions are being warned that they may be getting phishing emails that appear to come from the Federal Reserve Bank. The FDIC issued a special alert on Thursday warning of fraudulent emails allegedly coming from the Fed. The email claims that a phishing attack has affected the Fedwire system and that...
Federal banking regulators have just released new risk management guidance on remote deposit capture. This FFIEC guidance is to be used by examiners, financial institutions and technology service providers to identify risks, evaluate controls and assess risk management practices related to remote deposit capture (RDC)...
We all know we're mired in an historic global recession - the biggest economic downturn since the Great Depression, and it may well prove to be the longest.
But when can we hope to escape it?
In this exclusive interview, Ed Friedman, a director with Moody's Economy.com, a division of Moody's Analytics, shares...
It was only a question of time before one of the regulators stepped forward to tell its banking institutions to monitor the use of their federal funds. The FDIC this week drew its own line in the sand when it comes to monitoring how the bailout money will be accounted for at its banks.
Top banking officials told Congress on Tuesday the rest of the $350 billion of the bank bailout needs to be released, and also offered their different ideas on how to spend the money.
Federal Reserve vice chairman Donald Kohn and John Bovenzi, the chief operating officer of the Federal Deposit Insurance...
Federal Reserve Chairman Ben Bernanke says that the proposed economic stimulus could provide a significant boost to economic activity. But more bailouts of financial institutions may be needed to sustain any economic recovery from President-elect Barack Obama's plan to inject more than $700 billion into the economy.
Randy Caraway, a banking/information security consultant, not only knows about the impact of economic conditions on banking institutions - he's felt them personally. Formerly with JPMorgan Chase, Caraway now consults privately, serves on the CISM certification board for ISACA, and in this exclusive interview offers...
An alleged bank robber gets away with nothing, and he's in jail awaiting trial. Not that I'd argue otherwise. Meanwhile, Madoff defrauds investors of billions, quite literally ruins businesses and lives ... and he hasn't even lost access to his premium movie channels.
As banking regulators emphasize the necessity of application security, a broad-based consortium now sheds new light on the most common vulnerabilities.
Experts from more than 30 U.S. and international cyber security organizations, including the National Security Agency and the Department of Homeland Security's...
In the first full trading week of 2009, Wall Street wiped out half of the gains it made during the holiday trading period, as investors play it cautiously on continuing economic indicators pointing to declines in all areas of the economy.
The Government Accountability Office (GAO) on Thursday issued a new report that sums up what many in the financial services industry have known for years - the regulatory system is in dire need of a makeover.
The GAO report, "A Framework for Crafting and Assessing Proposals to Modernize the Outdated U.S. Financial...
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