Interview With George Tubin, Research Director, TowerGroup
Keeping the customer satisfied - and getting more of them. Many more.
These are among the priorities of banking institutions in 2009, according to a new survey by TowerGroup, "2009 Top 10 Business Drivers, Strategic Responses and IT Initiatives in Retail...
On Thursday, GMAC Financial Services, the GM finance arm, applied to the Federal Reserve to become a bank holding company, allowing it to be eligible for aid under the Treasury's $700 billion bank rescue plan. The Treasury has so far invested $158.5 billion under the Troubled Asset Relief Program (TARP) in 23 banks in...
Interview With Christine Barry, Research Director, Aite Group LLC
An unpredictable market, a new financial services landscape, and an incoming Democratic administration.
This year has been full of change, and the New Year promises even more. To gain some perspective on banking/security priorities in 2009, we...
Consumer prices dropped by the largest amount in the past 61 years last month, as analysts speculate that the government's efforts to stabilize the financial services industry and stock markets may be too reactive and changing too quickly.
Stocks opened lower in trading on Wednesday, with already nervous investors...
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%....
At a time when resources are tight and risks are abundant, many banking institutions are going mobile.
This is one of the findings of the recent Banking Confidence Survey, wherein 41% of respondents say their immediate business objectives include investment in new and enhanced services such as mobile banking. Their...
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.
State-chartered credit unions may think they've at least temporarily dodged the enforcement bullet re: the Identity Theft Red Flags Rule. But just because the Federal Trade Commission (FTC) pushed back the compliance enforcement deadline for these institutions doesn't mean that they can take a break, industry experts...
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...
Interview with Banking/Security Expert Bill Sewall
As of Nov. 1, banking institutions are now eligible to be examined by federal regulators for compliance with the new Identity Theft Red Flags Rule.
So, what should banking/security leaders expect from their initial examinations?
In an exclusive interview,...
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...
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