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On the West Coast, bankers are talking about starting new banks after a long period with scarcely any new charters, according to industry consultant and former California regulator Walter Mix. While in the aftermath of the crisis regulators seemed to have an unofficial moratorium on de novos, they now appear poised to evaluate applications on the merits, he says. Meanwhile, banks seeking approvals for mergers today can expect to be evaluated on a host of compliance matters, including unfair and deceptive acts and practices, Mix says.
August 5
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Credit Karma says it's giving customers weekly access to their full credit files, to help them fix errors and monitor their information for signs of fraud. Will banks follow suit?
July 30
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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.
July 29
