Risk management

As the COVID-19 virus spreads globally, many U.S. financial institutions are said to be taking steps to protect employees and minimize disruption. But only a handful are sharing specifics, to avoid contributing to any public panic.

The Payment Card Industry data security standard applies to organizations of all sizes, but has often been seen as an intro to data security for small-business owners who know more about cooking burgers than securing data.

Regions, Citizens, BMO and others are adopting principles IBM unveiled at Davos.

Ally Financial's recently announced $2.65 billion cash-and-stock deal for CardWorks, which offers unsecured credit cards among other products, places a high price tag on a traditionally risky product.

Goldman Sachs pledged in late 2019 to stop financing projects in coal and Arctic oil exploration. Activist groups and Democratic senators say other large institutions should do the same given the economic and environmental risks from climate change.

Investors are reacting skeptically to the auto lender's deal to acquire CardWorks for $2.65 billion.

New messaging protocols calls can meet crooks at the pass, says FIME's Jean Fang.

There's much bank executives can learn from the 737 Max and Deepwater Horizon catastrophes, which could have been averted if regulators had been notified sooner.

Despite advances in anti-fraud technology, scams remain a major problem for the energy industry, as criminals continue to exploit vulnerabilities present within the current system.

Square has buttressed its deep-learning with the purchase of Dessa, a Toronto-based machine learning startup that specializes in advanced risk management.

A New Jersey jury has put banks and other businesses on notice about their liability for incidents involving clients who mistreat employees in the workplace.

From taboos to cost concerns, some say the industry hasn’t moved quickly enough to tackle a key risk area.

The timing couldn’t be worse for ag and energy lenders as well as global banks, which were all counting on the Chinese market to help bolster commercial lending and fee income.

The new accounting standard meant to prevent another financial crisis could actually trigger one.

Outages or disruptions of GPS signals — sometimes malicious, sometimes not — could quickly knock out computers, ATMs and card networks.

To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.

For banks and other financial institutions to survive and thrive in the age of mobile payments and e-commerce, they need to continue to enhance their mobile apps with more innovations, tighter security features and more time-saving capabilities.

Moving to an open banking system comes with both costs and benefits that each bank will need to weigh before diving in.

The Massachusetts senator and presidential contender sent a letter to eight of the biggest U.S. banks asking about how they assess climate-related risks to assets and how they plan to mitigate social and economic fallout.

The two agencies cited geopolitical tensions in issuing the warning and best practices tips, though they stopped short of referring directly to the recent U.S. clashes with Iran.