Risk

The credit union regulator has held back in allowing the use of derivatives but has released a proposal that would remove red tape for some larger institutions.

Examiners are skilled at spotting trouble but often do too little to correct it, as the latest revelations about Citi once again show. Prompt supervisory intervention is essential to protecting the integrity of the financial system.

The control of crypto exchanges will resemble that of regular financial companies in Europe and the U.S., says Extante's Anatoliy Knyazev.

CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.

Opportunistic criminals are taking advantage of an environment where our need to live more of our lives online has outpaced our ability to do so securely. Taking all necessary precautions to protect sensitive information should be at the forefront of the discussion, says Horizon8's Patrick Horgan.

The combination can address the different threats posed by money muling, which is on the rise with more people at home, says FICO's TJ Horan.

During this time of economic disruption that has deep implications for the corporate sector, financial institutions need to make AI a core part of their efforts to adjust to the new normal and take advantage of the enabling technologies that can propel adoption quickly, says Canonical's Kris Sharma.

The company's mistaken payment to Revlon creditors and other lapses are said to have contributed to Citi's recent leadership shake-up. On Wednesday, the OCC and Fed ordered the company to fix its risk management problems.

While validating the card itself can protect merchants from accepting fraudulent cards at the point of sale, it does not protect the actual data on the card itself from being intercepted in the POS device, says Bluefin's Rustin Miles.

The threat has been exacerbated during the pandemic, as shelter in place orders forced consumers inside and businesses to close their physical doors, while simultaneously opening online ones, says Sift's Kevin Lee.