Couple things I'd like to quickly bring to your attention.
First, have you checked out any of the new Bank Information Security Handbooks we introduced last week?
These electronic editions compile highlights of our content - articles, interviews, blog postings, agency alerts, etc. - in a unique format that gives...
November is here; let the examinations begin.
This past Saturday, Nov. 1, marked the compliance deadline for the Identity Theft Red Flags Rule. After nearly a year of waiting and preparation, financial institutions now are subject to examination by their regulators on their newly-enhanced ID theft prevention...
Freedom Bank of Bradenton, FL., was closed on Friday by state banking officials, thus becoming the 17th U.S. bank to fail so far this year.
Freedom Bank's deposits were assumed by Fifth Third Bank after the Federal Deposit Insurance Corp. (FDIC) was named receiver. The bank had total assets of $287 million and...
The federal government's plan to help up to 3 million homeowners facing foreclosure is still pending, as the world's stock markets slid in early trading Friday. Asian and European markets were trading down despite the announcement by Japan's central bank that it was cutting its prime interest rate from .05 percent...
Interview with Dennis Koons, CEO/President of the Michigan Bankers Association
The economic downturn struck early in the state of Michigan, where unemployment rates have been higher than most of the nation for years.
In this exclusive interview, Dennis Koons, CEO/President of the Michigan Bankers Association...
Hard to believe that November 1 is already upon us, bringing the onset of the Identity Theft Red Flags Rule compliance. We've been reading about and discussing it for so long that it almost seemed as if though it would always remain six months away, but even a watched regulation eventually transitions into effect. ...
Asian and European markets rose Thursday after the U.S. Federal Reserve slashed interest rates to 1 percent, helping resuscitate the U.S. economy. The U.S. also announced it was opening new credit lines with other central banks, including New Zealand's central bank.
The Federal Reserve's half-point interest rate...
The Federal Reserve's expected interest rate cut pushed the U.S. stock market on Tuesday, with the Dow Jones Industrial Average surging 889 points. Wednesday's Asian and European markets traded higher on anticipation of the news, while U.S. futures trading pointed to a hesitant investor base anxiously awaiting the...
As institutions look at their calendars and see that November 1 compliance deadline looming, it's time to realize that this isn't just another regulation. The ID Theft Red Flags Rule is about stopping identity theft from happening to your customers.
When I hear information security professionals say they're...
With investors waiting anxiously to see if the Federal Reserve will cut its rates to below 1 percent, the world's stock markets surged in volatile reaction to that possibility.
The last time rates were at 1 percent was between June 2003 and June 2004.
Asian markets climbed on the news, with Hong Kong up 14 percent...
Exclusive Interview with the Board Member of the NCUA
As banking unions struggle with the global crisis in confidence, U.S. credit unions are beneficiaries of consumers looking for safe new homes for their deposits.
At least that's the popular theory. But what's the real state of affairs now at...
Nov. 1 is but days away, yet only one-third of all financial institutions will be ready to meet the ID Theft Red Flags Rule compliance deadline, according to one industry estimate.
Many institutions already believe they are compliant because they implemented ID theft-prevention measures from previous regulations,...
The final week of October started off badly, as investors today saw world markets continue last week's slide. The Japanese Nikkei stock index hit a 26-year low, and U.S. government rescue moves for the economy aren't easing jittery consumer and investor fears of a prolonged global recession.
Along with Asian markets...
The Federal Trade Commission (FTC) announced this week it will suspend enforcement of the new Identity Theft Red Flags Rule until May 1, 2009 - six months beyond the original Nov. 1 deadline.
This move will give non-banking creditors and state-chartered credit unions additional time to develop and implement written...
The headlines have been about Wall Street, but what's happening on Main Street?
Community banks make up more than 90 percent of the nation's 8000-plus banking institutions, and it's important to hear from their senior leaders on such topics as safety and soundness, customer confidence and business/security...
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