The number of identity fraud victims has increased 22 percent in the U.S., costing 9.9 million victims a total of $48 billion in 2008.
This is the news from the fifth annual Identity Fraud Survey Report from Javelin Strategy & Research. In an exclusive interview, James Van Dyke, Javelin founder and President,...
General Motors' lending arm, GMAC LLC, which sought federal aid and applied to become a bank holding company, has not garnered enough capital to qualify for that status. It fell short of the $30 billion in regulatory capital demanded by the Federal Reserve, and the Fed says it won't approve the conversion unless the...
One night in early October, Harbor Credit Union of Green Bay, WI, warned its members of a recent mass of robocalls. "An automated dialer started phoning people and telling them that their account had been compromised, and asking them to enter information," says Mike DeGrand, president of the institution. People were...
Silver State was #11.
On Friday, Sept. 5, Silver State Bank of Henderson, Nev., was closed by the Nevada Financial Institutions Division - the 11th failed U.S. bank of 2008. Three days later, the bank's surviving branches reopened as part of Nevada State Bank. This is the story behind that transition, providing an...
Mergers and acquisitions often present tight time frames in which employees must make life-altering decisions for themselves and their families.
Without a doubt, uncertainty is the number one issue after announcing a merger or acquisition. And the key question that most employees dread is: Who stays and who...
Banking regulators have turned up the heat on institutions to conduct better due diligence when selecting third-party service providers to manage sensitive data. But how does one determine if a vendor's security practices are truly up to snuff? Register for this webinar to learn through case studies and insights from...
In the wake of recent economic news, banking/security leaders everywhere are asking "What should I tell my customers about my own bank's safety and soundness?"
Here are three tips for your consideration.
1) Reinforce that Your Institution is Safe & Sound -- Community banks traditionally have had a unique, close...
As the debate continues to roil in Washington over how the $700 billion bank bailout will finally look, the banking industry today felt another tectonic shift in the wake of the nation's most momentous financial crisis since the Great Depression as JP Morgan Chase acquired Washington Mutual yesterday in a $1.9 billion...
There were two crashes heard within the banking industry on Monday.
One was the stock market, which suffered its biggest drop since the aftermath of the terrorist attacks of 2001 - the Dow Jones industrial average alone lost 504 points, or 4.4%. The Nasdaq composite lost 3.6%.
But the second crash may have been...
Within two weeks of one of the largest bank failures ever come the closings of two additional banks in Nevada and California, putting new pressure on banking institutions to address the growing topic of customer confidence.
First National Bank of Nevada, ($3.4 billion assets), Reno, Nevada, and First Heritage...
Last Friday, IndyMac became another financial institution to fail this year because of the credit crisis.
Taken over by federal banking regulators, IndyMac, a Pasadena, California-based mortgage lender with $32 billion in assets, was the largest thrift on record to fail and the third largest bank failure in...
At A Time When Preserving Customer Trust Is Critical, Financial Institutions Bank On Technology Solutions
The credit crisis and security threats have pushed financial institutions to step up their efforts to secure personal data and ensure their customers' trust.
Download this white paper for case studies of...
From payment card fraud to skimming attacks and corporate account takeover, we've seen a wide variety of threats to banking institutions and their customers.
And with the advent of the ID Theft Red Flags Rule, and in the aftermath of the economic upheaval, we know banking regulators are paying closer attention to...
Shockwaves rumbled through the US banking industry this week with the release of a new report estimating the annual incidents of Identity Theft associated with the nation's top banks.
The study, published by the Center for Law and Technology at the University of California, Berkeley, draws from thousands of...
What happens to the victims of identity theft?
What becomes of these people who turn to their financial institution – who want only to talk to someone who understands what they are going through and can help them fix the problem?
That’s where the Identity Theft Assistance Center steps in.
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