Worries of a world recession continue, as European stock markets opened sharply lower on Wednesday following losses in Asia amid an expected retreat on Wall Street. The bad news includes U.S. banking giant Wachovia announcing its third quarter report and the largest loss by a bank - nearly $24 billion. Wachovia, being...
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...
I just have to chuckle sometimes when I read headlines like the one that appeared recently - 'Dark Market' Takedown: Exclusive Cyber Club for Crooks Exposed.
It seems that the FBI is getting pretty clever at "blending" into the cyber criminal world. A tip of the hat goes to Shawn Henry, the FBI Cyber Division...
The Office of the Comptroller of the Currency (OCC) has issued new Fair Credit Reporting Act (FCRA) examination procedures for rules addressing affiliate marketing, identity theft red flags, and address discrepancies last week. These new examination procedures add to existing FCRA procedures.
OCC examiners performing...
Silver State was #11.
On Friday, Sept. 5, Silver State Bank of Henderson, Nev., was closed by the Nevada Financial Institutions Division - the 11th failed U.S. bank of 2008. Three days later, the bank's surviving branches reopened as part of Nevada State Bank. This is the story behind that transition, providing an...
Around the world, bank lending rates continue to ease despite economic uncertainty, with loosening of key inter-bank lending rates pointing to the stabilization of credit markets.
This comes after Monday's talk of a second economic stimulus package in the U.S. and the French government's injection of $14 billion...
The World Bank, an internationally-supported institution that provides loans to developing countries, is reported to have suffered a network intrusion that one insider labeled "an unprecedented crisis."
The breach, first reported by Fox News, alleges that servers in the Washington, D.C.-based bank's treasury unit...
Banco Santander, the Spanish banking giant and the fifth most profitable bank in Europe, has purchased the rest of U.S.-based Sovereign Bankcorp. The Spanish bank had previously bought a 25 percent stake in the bank holding company based in Wyomissing, PA., with operations across the Northeast.
A statement by Banco...
After a week of turmoil, the financial world markets leveled off this past Friday, as the Dow snapped a three-week losing streak with its best weekly gain in more than 5 years.
Monday's opening saw the Dow up 208 points, as Federal Reserve Chairman Ben Bernanke said that yet another economic stimulus plan may be in...
Interview with James Chessen, Chief Economist for the American Bankers Association
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,...
OK, with less than two weeks to go, banking regulatory agencies are getting busy. Busier, I should say.
Last week saw both the OCC and FDIC release their approaches to the Identity Theft Red Flags Rule examination procedures.
No huge surprises here. But what's interesting is when you review the somewhat...
All it took was a single word: "Recession."
Once a pair of Federal Reserve officials on Tuesday spoke openly of the U.S. economy being at risk of falling into recession, global markets lost all the steam they had gathered early in the week.
In the U.S., The Dow Jones Industrial Average on Weds, lost 733.08...
It's time to get real.
As we tackle this wild economy, which has deflated the market, toppled institutions, written history ... it's time to hear from real people to gain real insights on the events that are reshaping reality for us all.
Consider this my open call, then. Banking leaders: I'd like to speak to you...
Customer confidence - everyone from the President of the United States to the chairman of the community bank has an opinion about it and how it's suffered in the wake of recent economic events.
But how deep is this confidence crisis, and what exactly are banking institutions doing - if anything - to battle...
Insights on the Federal Rescue Plan - an Interview with Guillermo Kopp of TowerGroup
Tuesday's news was mainly about Wall Street, with the U.S. government pledging to invest up to $125 billion in nine of the nation's largest banks.
But Main Street banking institutions and their customers will be the ultimate...
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