Wall Street Journal
As Columbia Law School professor Robert Jackson noted in an op-ed on Thursday, there needs to be a source of real
Because
An improving job market and steady economic conditions (but
"We'll continue to take this opportunity as far as it will take us," said Richard Fairbank, CEO of Capital One Financial, one of the biggest credit card issuers. American Express is known for targeting consumers who pay off their balance each month, but even Amex is branching out to customers who keep a balance and pay monthly interest fees.
Citigroup and Discover Financial Services have expanded to subprime borrowers, requiring them to make a deposit that equals the credit limit of their card.
Wells Fargo has been accused of ignoring the "red flags" of hackers before thieves
The hackers obtained codes to access the Ecuadorean bank through Swift, according to the lawsuit. Swift claims it was never told about earlier hacks in Vietnam and Bangladesh, so it could inform other banks of potential data breaches. Wells Fargo argues that it would be impossible for banks to meet the expectations that Banco del Austro is asking for, in terms of monitoring accounts for fraud.
Banks would be required to "contact their customers multiple times whenever a payment order is received…and it would eviscerate the efficiencies that wire transfers and Swift payment orders were designed to promote," Wells said.
With the scourge of cyberattacks around the world, officials are scrambling to
"There are many institutions and many countries who think they can just wait for the perfect technology, a silver bullet to make these issues go away. But they're not going away," said Deputy Treasury Secretary Sarah Bloom Raskin. She's leading the U.S. effort for the G-7.
New York Times
The White House was intimately involved in the decision to
At the time, it was said Fannie and Freddie must sweep all profits to Treasury because they were in a death spiral and taxpayers needed protection from future losses. The move effectively made Fannie and Freddie wards of the state, and Congress and the Federal Housing Finance Agency are still struggling with the ultimate fate of GSE reform. Fannie and Freddie have thus far returned more than $50 billion to Treasury than they received during the bailout.
The Times looks at Federal Reserve Bank of Minneapolis President Neel Kashkari and asks why he
Elsewhere ...
Bloomberg: Morgan Stanley is set to be one of the
Mack, who is no longer an employee of Morgan Stanley, was the go-between for the investment bank and Lending Club. Mack also personally invested about $2.5 million in it, and he joined the company's board, along with former Morgan Stanley dot-com analyst Mary Meeker.