Risk management

Barclays, Goldman Sachs, HSBC and Morgan Stanley are backing a shared vendor risk management platform. The tough part will be agreeing on a final product.

Readers weigh in on chatbots, Amazon’s physical footprint expansion plans, alternative credit data and more.

The House Financial Services Committee approved several bills Thursday designed to boost the private flood insurance market.

The message to banks is loud and clear: A vendor’s mistake is your mistake. You can outsource a function, but not the responsibility for mishaps.

Narcissistic biases can lead us to favor those who look like us or have similar backgrounds or other common bonds. This inevitably affects the quality of hiring and risk management decisions.

The American Civil Liberties Union is accusing JPMorgan Chase of violating the Civil Rights Act by discriminating against fathers when they ask for parental leave.

Not only is the uninsured sector growing, but the Bank of Canada is seeing some riskier mortgages within that area as it studies recent disruptions in the market.

Some of the biggest risks facing any large bank come from within, such as human error or mischievous traders. Risk management consultant and author Andrew Waxman discusses how cognitive psychology and augmented intelligence offer help.

Auditors performing a review of Ocwen Financial padded time sheets and claimed excessive and improper expenses, including lengthy travel and meals at strip clubs and casinos, according to a lawsuit filed against Fidelity Information Services.

In a world where confidence is rewarded more than indecision, businesses risk elevating confident leaders who overestimate their abilities. In banking, that can have harmful effects.