While Wall Street institutions struggle to survive, Main Street banking businesses stand safe and sound.
This is the message to consumers from community banking institutions - that they've made smart investment decisions, and they're not in jeopardy from the fallout of the global credit crunch. From newspaper...
As the markets tumble and the American consumer watches retirement funds evaporate, fraudsters are eagerly seeking new victims.
The Federal Deposit Insurance Corporation (FDIC) warns consumers to beware fraudulent emails purporting to be from the agency. In a news alert issued on Thursday, the FDIC warns recipients...
Interview with Nancy Atkinson of Aite Group
Market crashes, bank closures, history in the making.
Today's news is filled with troubling symptoms of the global credit crunch. Yet, despite this economic crisis, regulatory compliance and risk management remain top priorities of banking institutions.
In this...
In an unprecedented move, U.S. Department of Treasury sources say the federal government may inject funds directly into troubled banks in order to get banks to begin lending -- another move to try to stabilize the shaky stock markets.
The European markets rallied behind the news that leaked yesterday, and the US...
Interview With Dan Clements, President of Card Cops
We all know the bad guys are getting smarter, more organized and better fortified. But so are the good guys.
In this exclusive interview, Dan Clements, President of Card Cops (www.cardcops.com), a data security company, discusses how his group helps...
The sad scenario plays out on the news on a regular basis these days. A homeowner facing foreclosure is barricaded inside their home as law enforcement comes to serve the papers. Shots ring out, and officers rush in to find the wounded homeowner.
What happened last Friday with Addie Polk of Akron, Ohio, a...
In discussing our current banking crisis with a colleague earlier this week, I was surprised by the level of cynicism he displayed towards the regulatory agencies and their efforts to govern the institutions they oversee. He's a practitioner like me, and I'd always thought of him as being of an equal mind on such...
It's officially the 11th hour.
The deadline for compliance with the Identity Theft Red Flags Rule is less than one month away, and financial institutions are scrambling to meet it.
Yet, a new study from Tower Group, the financial services research firm, predicts that less than one-third of institutions will be...
The Payment Card Industry (PCI) has released its newest version of its data security standards (PCI-DSS). The version is designed to help protect transmitted charge and debit card information, and spells out a comprehensive vulnerability management program.
While not a banking regulatory standard, PCI was...
The passage of the $700 billion bailout of Wall Street didn't have the desired effect on the world's stock markets, as they all suffered through another traumatic session on Monday. The Dow Jones industrials plunged as much as 800 points, setting a new record for a one-day point drop.
Investors watched with baited...
In a stunning move announced early Friday morning, Wells Fargo & Company (NYSE:WFC) and Wachovia Corporation (NYSE:WB) have signed a definitive agreement to merge their operations in a stock-for-stock transaction requiring no government assistance.
This merger is a 180-degree turnaround from the news announced...
We just saw banking history being created.
It isn't over yet, the reshaping of the U.S. financial services landscape, but when you look back on the seismic changes that occurred in September, you appreciate that we have indeed just experienced a series of events unlike any since the Great Depression. It seems every...
Two days after the House narrowly rejected the Bush Administration's proposed $7 billion financial market bailout, the U.S. Senate on Wednesday approved an amended version of the bill.
By a 74-25 vote, the Senate gave thumbs-up to an aid package that includes new "sweeteners" to attract House critics - i.e. middle...
A quick update on economic events since Tuesday ...
The stock market rose on Tuesday on news that the work on the revised $7 billion financial market bailout bill looked promising. This was one day after the biggest point drop in its history.
The Countrywide insider case appears bigger than initially revealed.
After first informing the State of Massachusetts that only three of its citizens were affected by the data theft, Countrywide has now revealed that, as a result of an internal investigation, as many as 45,282 Massachusetts residents are "at risk."
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