PayThink

Although financial institutions have been developing and implementing Anti-Money Laundering programs for at least a decade, many still seek to develop more effective practices for identifying and minimizing risk.

What if NCUA had used college football rankings to decide which corporates survived and which didn't. Would the CU community have been better off?

Cody Andrew Kretsinger was arrested in Arizona Tuesday for allegedly hacking Sony Corp.'s movie business in May.

Alternative capital instruments would allow mutually held banks to become more vital providers of financial services.

Chairman Bernanke and Secretary Paulson wrongly said they lacked the legal power to save Lehman. Then, they almost immediately turned around and saved other major investment banks — by waving a magic wand and making them bank holding companies, eligible for federal support. But Shakespeare's line applies: "If it were done…, then 'twere well it were done quickly."

When pressed by extreme stress, do you, as a leader, stay and fight or fly the coop?

Dodd-Frank will prove hugely expensive and still fail in its main mission of preventing the next financial crisis. Blame Washington and its flawed assumption that it can micro-manage the banking system.

Researchers claim to have created a hacking tool that can exploit the security used by PayPal and other companies.

Traditionally demand deposit account origination has followed a fairly standard process. Enter the application, check OFAC and "closed-for-cause" databases, open the account. Lather, rinse, repeat. However, with banks looking to shore up deposit account profitability in the wake of the Durbin Amendment by cutting costs and reducing fraud losses, the standard origination process just won’t do it anymore.

At year end 2010 Bank of America had $2.3 trillion in assets, $230 billion of capital, 57 million customers, ranked among the top firms in nearly every major growth market in the U.S., employed 288,000 people, made $150 billion of community development loans a year, donated $200 million to charity annually, and was one of the largest home lenders in the nation.