As wild as the end of 2008 has been, I can't get my mind off 2009.
This is because I'm just now helping to put the finishing touches on our annual State of Banking Information Security survey, which helps us take the pulse of the banking/security community, so we can gauge the priorities for the year ahead.
Last...
A week after doing a 180-degree change in direction with the $700 billion dollar bailout, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke on Tuesday defended their choice. The plan is now focused on infusing liquidity into banks to increase lending to consumers, rather than buying up toxic...
I was watching CNN this morning, and one of the stories they covered was that of President-elect Obama's selecting his cabinet. In a poll taken regarding this topic, 41% of respondents identified the Secretary of the Treasury as the most important position to be filled; Secretary of State was a distant second at 25%....
This week's news begins with word that banking giant Citigroup will slash more than 50,000 jobs over the next year due to the souring economic outlook. These cuts are in addition to the 22,000 already announced to cut the bank's 375,000 staff. The latest cuts total 20 percent of Citi's workforce.
This news is on...
US Secretary of the Treasury Henry Paulson on Wednesday changed where money will be directed from the $700 billion economic bailout. The Troubled Asset Repurchase Program, better known as TARP, will no longer buy back from banks their failed mortgages because Paulson cites that faster relief from the economic crisis...
American Express, one of the most recognized brands in the world, with assets of $127 billion, is transforming into a bank holding company in order to strengthen its position in the uncertainty and turmoil of the global economy.
Worries over consumer spending, the ongoing mortgage crisis and the federal bailout are all top of mind for financial institutions on Thursday, as Wall Street heads toward a lower opening with the Dow down more than 150 points initially. Investors and economists remain stumped about how bad the global economic slump...
OK, so first came the subprime mortgage debacle, and it was bad.
Then came the global credit crunch, and it was worse.
Reading the economic tea leaves, the feds in October swept in with a $700 billion economic relief package designed to bail out some of the nation's troubled financial institutions. So, then we...
With double-digit unemployment, central Michigan saw today's financial crisis long before much of the rest of the nation. And Dennis Angner has been front and center to see it.
Past chair of the Michigan Bankers Association, Angner is CEO if Isabella Bank Corp., a $1.5 billion community banking institution. In this...
On Nov. 4, America elected Democrat Barack Obama as its next President, and the Democratic Party also cushioned its majorities in both the House and Senate.
So, what does a Democratic federal government portend for the U.S. banking industry?
In an exclusive interview, Stephen Verdier, Senior Vice President and...
One night in early October, Harbor Credit Union of Green Bay, WI, warned its members of a recent mass of robocalls. "An automated dialer started phoning people and telling them that their account had been compromised, and asking them to enter information," says Mike DeGrand, president of the institution. People were...
Two more bank closures last Friday capped a tumultuous week for the U.S. economy and stock market. And on Monday, the week began with news that the federal government is poised to invest $40 billion in troubled insurance giant AIG.
It's a frantic, historic time for banking institutions of all sizes, with mergers, acquisitions, failures and federal investment.
In an exclusive interview, James Chessen, Chief Economist for the American Bankers Association, speaks about the state of customer confidence at banking institutions, detailing:
The...
As banking unions struggle with the global crisis in confidence, U.S. credit unions are beneficiaries of consumers looking for safe new homes for their deposits.
At least that's the popular theory. But what's the real state of affairs now at federally-chartered credit unions?
In an exclusive interview, Gigi...
The crime of deception is now even more deceptive.
Multi-channel fraud - schemes that are launched simultaneously via telephone, Internet, in person and via mail - is a growing concern for financial institutions. And the linked crimes aren't always easy to spot.
In this exclusive interview, security expert Diana...
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