Jason Kratovil
Jun 17, 2022

Scams to boost scores cause significant losses for banks and consumers alike — and the financial system is ill-equipped to fix it.

In September 2016, the Office of the Comptroller of the Currency (OCC) released final guidance for recovery planning that covered a broad range of financial institutions: insured national banks, federal savings associations and federal branches of foreign banks with more than $50 billion in assets.

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If regulation is by the book these days, it might as well be from the “Harry Potter” series: the lost volume where brave bankers defend the castle from fire-breathing dragons that grow stronger, fiercer and more adept by the day.

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When the Consumer Financial Protection Bureau (CFPB) sued TCF National Bank in January, it charged that the Wayzata, Minn.

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It’s an eternal worry for banks: how best to detect and report money laundering.

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The WannaCry ransomware that just hit more than 150 nations serves as a sobering reminder of the damage cybercriminals can inflict.

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Ask any financial services leader who’s been a scout and they’ll tell you that “Be Prepared” is great advice for organizations as well as life itself.

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A recent poll asked financial services leaders when their organizations expect to execute preliminary current expected credit loss (CECL) calculations for the allowance for loan and lease losses (ALLL).

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Individuals and organizations tend to act cautious—extremely cautious—during and immediately after a crisis.

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More than 25 years ago, Bill Gates declared: “Banks are dinosaurs.

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Time deposit owners always want the same thing: more yield and short commitment.

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All financial institutions share one key objective: to generate revenue in a way that supports and sustains profit.

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In articles one and two of this three-part BAI Banking Strategies series, we outlined CECL, the Current Expected Credit Loss standard issued by the Financial Accounting Standards Board.

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Controlling fraud and money laundering amounts to a perpetual game that requires a dynamic and evolving process as fraudsters continuously adjust and adapt their techniques.

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On the last episode of Season One of the BAI Banking Strategies podcast, we talk with Colin Carvey of TransUnion about synthetic fraud, where criminals create fake identities to land and steal from credit lines, at a great cost to banks.

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In June 2016, the Financial Accounting Standards Board (FASB) issued a new standard for the timely reporting of report credit losses on loans and other financial instruments—and in the process, created one of the most significant changes in recent years for financial institutions.

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If necessity is the mother of invention, then there’s a new child in financial services that reconciles compliance and regulation with a seeming opposite: efficiency.

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Back in the good old days, robbers had to show up at banks, guns drawn, to make illicit withdrawals.

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On this episode of the BAI Banking Strategies podcast, we talk with Steve Ehrlich, lead analyst for emerging technologies at Spitzberg Partners LLC in New York.

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So, how hungry are you? In the financial context, this question extends far beyond the usual banking bill of fare.

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