Compliance

More than 212 million biometric authentication devices will be shipped over the next decade for use in financial services, according to recent Tractica market research.

Phoenixville Federal Bank & and Trust in Pennsylvania has converted to a state charter.

WASHINGTON — A Federal Deposit Insurance Corp. publication on Monday advised banks to include cyber risk in standard disaster-planning and business-continuity exercises as part of general strategic-planning discussions.

As part of the transition to EMV-chip cards in the U.S., some issuers are adding PIN security to cards that used to require only a signature. But as technology advances, the PIN may not provide as much security as consumers believe.

The global loan platforms present an extreme example of the ongoing clash between the fast-moving financial technology sphere and the staid world of financial regulation.

NCUA Board Member J. Mark McWatters points to the agency’s rejection of proposals to revert to an 18-month exam cycle without any debate as further evidence of the need for public budget hearings and greater transparency from the regulator.

As mobile wallets and other high-tech payment mechanisms proliferate, they bring with them more options for security. Companies are increasingly looking for ways to use devices' built-in cameras to urge consumers to take self-portraits for authentication.

Though most merchants will be liable for fraud if they do not upgrade to EMV-chip card terminals by the start of October, many do not see themselves affected by fraud on the same scale as the major retailers that have suffered massive data breaches.

As the 2008 financial crisis fades into memory, it has become increasingly unlikely that any bankers or traders involved will see jail time. But while no individuals were ever charged with a crime, the feeling that the fat cats of the financial industry got away scot-free will affect the 2016 presidential race and beyond.

JPMorgan Chase has named retired Army Gen. Raymond Odierno senior adviser to the company on international relations, cybersecurity, leadership development and other issues.