On Thursday, the Office of Thrift Supervision (OTS) closed troubled Florida lender BankUnited F.S.B., and a new chartered federal savings bank acquired the failed bank's operations. The new bank, BankUnited, FSB, has reopened today. It is the largest bank to fail thus far in 2009.
For thousands of years, people have attempted to hide sensitive information from competitors or enemies.
Since January, critics of the Heartland Payment Systems data breach have called out for tougher encryption standards for financial institutions and their third-party service providers. Applications for...
OK, so today's the day.
After two months of anxious anticipation, today is May 19, the deadline Visa set for financial institutions to file fraud claims related to the Heartland Payment Systems (HPY) data breach.
The Heartland Payment Systems (HPY) data breach has already cost the card processor millions in fines from Visa and MasterCard.
This news was revealed by CEO Bob Carr in Heartland's recent earnings call, wherein Carr said the much-publicized breach has already cost the company $12.5 million.
The federal judge who heard the collective civil claims filed against the Hannaford Bros. supermarket chain issued his opinion on the 21 claims on Tuesday in Portland, ME. All but one of the 21 civil claims filed against the supermarket giant for alleged failure to protect consumers during the company's network breach...
Once again, the Federal Trade Commission (FTC) has delayed the enforcement date for the Identity Theft Red Flags Rule - this time an addition three months, to August 1, 2009 - a move that impacts state-charted credit unions regulated by the FTC.
A Bremerton, WA-based institution, Westsound Bank, was closed on Friday by the Washington Department of Financial Institutions. It is the 33rd FDIC-insured bank to fail in 2009. The FDIC arranged for the failed bank's deposits to be sold to Kitsap Bank Port Orchard, WA.
The stress test results are in, and the news is that of the 19 banks evaluated, 10 will need to raise additional capital -- another $75 billion in total. These stress tests were seen as a major indicator of the level of stability in the banking industry, which is held as a foundation to the country's recovery from the...
Individually, banking institutions, law enforcement agencies and regulatory boards understand the risks of money-laundering crimes.
But collectively, in active collaboration, they could do much more to prevent, detect and investigate these crimes, says AML expert Kevin Sullivan.
In an exclusive interview in...
The Chairman of the Federal Deposit Insurance Corp. sees a change is needed to oversee big institutions that may put the entire economy at risk.
Sheila Bair's comments came a day before the stress test results of the nation's 19 largest banks were to be made public.
Heartland Payment Systems (HPY) has made it back onto Visa's list of PCI DSS Validated Service Providers. The announcement comes almost six weeks after the credit card payment processor was taken off the list and four months since it announced its networks had been breached and credit card information stolen.
A new Federal Reserve report shows most U.S. banks expect more loans to be delinquent and losses will increase this year. In a survey of senior loan officers, more than 70 percent say bad loans will rise should the economy continue to progress as projected by economists. More banks say they have made it harder for...
The Federal Reserve's stress test results may show that 10 bank holding companies will need more money to stay above the water line. Banks are getting more of the results today from the Federal Reserve, and the examination results will be released to the public on May 7 after the markets close.