Resources

A mountain of regulations set to go into effect in January, the Fed's mixed signals and fair lending issues topped the list of concerns at a recent mortgage bankers' risk management conference in Phoenix. American Banker's Kate Berry, who attended the event, reports.

Disney World's efforts to test its payments wristband involve patience, investment in technology and a lot of marketing. PaymentsSource editor Daniel Wolfe recently visited the amusement park and has some lessons for banks and other payments companies that want to succeed in similar innovation.

Recent reports that the National Security Agency has been undermining encryption on the Internet raise questions about the security of online banking data. The spy agency has been installing "back doors" in commercial software and introducing weaknesses to industry encryption standards, according to documents leaked to the media by Edward Snowden. The good news (such as it is) is that cybercriminals may not take advantage of these vulnerabilities, since they usually focus more on tricking humans through tactics like phishing than on the time-consuming work of cracking codes.

Financial institutions are required to thoroughly "know" their customers and vet transactions for potential criminal connections in a way that other critical service industries are not. (Imagine an electric company quizzing its customers about what appliances they plug into the wall.) Ellen Zimiles, a former assistant U.S. attorney who now heads the global investigations and compliance practice at Navigant Consulting, explains why banks have been given special responsibilities.

Remittances from the West are a lifeline for many people in the developing world, but anti-money laundering compliance requirements have made it hard for banks and money transmitters to service this market. Ellen Zimiles of Navigant Consulting discusses the delicate balance between regulatory and law enforcement concerns, on the one hand, and business and humanitarian goals on the other.

Reform of housing finance giants Fannie Mae and Freddie Mac gained surprising momentum in recent months. But it's at risk of grinding to a halt as the Capitol Hill is consumed with Syria and the confirmation of a new Federal Reserve chairman. American Banker editors discuss the prospects for GSE legislation amid a packed and contentious legislative agenda.

Deposit balances have declined for two consecutive quarters, threatening a low-cost source of funding for many institutions. American Banker editors discuss the implications and how bankers are responding.