Following a wave of enforcement actions against global and national institutions, regulators are now scrutinizing the anti-money laundering controls of community banks, says Walter Mix, a consultant and former regulator. Examiners are raising questions about banks' transaction monitoring systems, as well as the documentation supporting decisions about enhanced due diligence (such as whether to file suspicious activity reports), he says.
They haven't caught much media attention lately, but distributed denial of service attacks continue to take place and have become larger, researchers analyzing the latest attack patterns say.
JPMorgan Chase agreed to sell about $1.3 billion of loans and securities to Sankaty Advisors as the largest U.S. bank pares back non-essential holdings.
If there's one lesson bankers can take away from the hacking incident at the online ticket seller StubHub, it's that they need to educate their customers about the dangers of using the same passwords on multiple sites.
The riskiest money-market mutual funds will be required to abandon their stable, $1-share value and allow their prices to float under rules adopted by the Securities and Exchange Commission.
The Department of Veterans Affairs' residual income test would give lenders more confidence to make riskier loans, according to an Urban Institute study.
U.S. regulators are poised to label MetLife a potential threat to the financial system, subjecting the insurer to oversight by the Federal Reserve, according to two people with knowledge of the matter.
Independent mortgage lenders are concerned that regulators will use the report as an excuse to raise minimum net worth requirements for smaller lenders.
Nonbank mortgage lenders pose greater risks to Fannie Mae and Freddie Mac because they have limited government oversight and generally weaker finances than banks, according to a government watchdog report.
Borrowers with a first-lien modification and home equity line of credit could face a spike in their monthly mortgage obligations when the interest rates on both loans reset next year.
"The real question for me is should we be in the FHA business at all," the CEO says.
In his first policy speech, Federal Reserve Board Vice Chair Stanley Fischer highlighted strides regulators have made since the crisis, but said more progress is necessary.
With millions of malware strains targeting mobile devices today, bank CEOs and their security chiefs are understandably anxious. Here's a look at several defensive moves banks can make.
Wall Street's biggest trade group has proposed a government-industry cyber war council to stave off terrorist attacks that could trigger financial panic by temporarily wiping out account balances, according to an internal document.
New federal requirements for private mortgage insurers aim to standardize coverage across the market. That's left some companies looking for ways to distinguish their products as they vie for lenders' business.