Risk

While nearly all banks, financial institutions and other organizations have a disaster recovery strategy in place, it’s clear that these plans are not enough to ensure these organizations remain online, regardless of what happens, according to Gijsbert Jassen van Doorn, technology evangelist at Zerto.

As the Cincinnati bank seeks to regroup after the fatal shootings at its headquarters, the incident underscores the need for preparedness at banks and credit unions of all sizes, workplace safety experts say.

“Who’s to know when the economy may turn?” the head of the Alabama bank said in describing its weak business-loan growth as the byproduct of cautious pricing and underwriting.

Heading into the mid-terms, credit unions must remain focused on how to move forward these four key legislative and regulatory initiatives.

Credit union advocates shattered records with the number of comment letters they sent the regulator when its original risk-based capital proposal was issued, but a revision proposed last month garnered just 37 responses.

While certainly connected in both concept and actuation, those with an interest in this burgeoning marketplace will be wise to note that both the risk and the regulatory landscape for existing cryptocurrencies differ from ICOs/tokens, according to Erin Fonte and Ferdose al-Taie, lawyers at Dykema.

The agency says the effort, part of a review conducted every 10 years, will help eliminate regulatory red tape.

There's a flurry of credit union-related activity on tap in Washington this week, but it could all get pushed aside by Hurricane Florence.

Businesses without the substantial resources of a Danske Bank are sitting ducks for even more esoteric scams, like transaction laundering, writes Ron Teicher, CEO of EverCompliant.

A horrific tragedy unfolded at Fifth Third's main building in downtown Cincinnati, when a man opened fire on bystanders in and around the lobby-level branch. Three were killed, and the gunman died in a shootout with police.

Concentration risk, threats to data privacy and the potential for discrimination are among the unintended consequences of letting fintechs and tech giants dabble in financial services without bank-like regulation, an expert says.

It is critical that banks blend data science and their industry knowledge to better identify and mitigate compliance risk, says a director at Promontory Financial Group.

The World Wide Web Consortium (W3C) is sending a message to the payments industry that it might not be wise to wait on the card networks to solve the growing problem of mobile and online payments fraud.

Selling outside of app stores forces users to deactivate a crucial safeguard which would otherwise prevent the download of potentially malicious apps onto their mobile device, contends Samuel Bakken, senior product marketing manager for OneSpan.

Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its technology infrastructure.

State Treasurer John Chiang says that Wells Fargo is keeping patterns of abuse hidden from view by resolving customer disputes through private arbitration.

ATM jackpotting is a growing threat throughout the United States, with thieves attempting to attack the most vulnerable locations possible, according to Paul Albright, executive vice president of Outsource ATM.

The industry’s profit was $60.2 billion, a more than 7% increase from the previous record set in the first quarter and a 25% leap from a year earlier, the agency said in its quarterly report on the industry's health.

A solid software development life cycle method — a way of organizing the work of a software development team — can mean the difference between getting ahead in payments or falling behind, according to Chet Culver, director of application development at CardConnect.