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.

Given the proliferation of printers in banking – a large institution may have tens of thousands in facilities spread across the country – printer management needs to play a critical role in the ongoing war against hackers.

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Handing someone a $100 bill is an instant payment.

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In April, a joint committee of federal regulators issued their long-awaited proposed rule limiting incentive-based compensation for bankers.

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EMV verification, a global standard for credit and debit payment cards based on chip card technology, makes it difficult for fraudsters to make counterfeit credit cards.

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The financial services industry is evolving at an exponential rate in this age of digital transformation.

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The Financial Accounting Standards Board (FASB) is expected to release the final standard of the current expected credit loss (CECL) model in the first half of 2016.

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Beginning in January of 2014, the Ability to Repay (ATR)/Qualified Mortgage (QM) Rule took effect, which establishes a standard to differentiate “qualifying” and “non-qualifying” residential mortgage loans.

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From initial discussions to final closing, merging two financial institutions is no small feat.

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Up to 5% of global gross domestic product (GDP) is lost annually to money laundering according to the UN Office on Drugs and Crimes.

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As the world continues its transformation to an always-on status, data breaches and, in turn, fraud, are on the rise.

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We are seeing a very fundamental shift in the focus and importance of vendor management.

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Don’t get lulled by the 2018 date for collecting the expanded data required under the revised Home Mortgage Disclosure Act (HMDA).

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The concept of de-risking has become increasingly in vogue in the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) field.

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For much of its history, banking was a personal business, with customers interacting directly with their bankers and visiting bank branches when specific needs arose.

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Regulatory compliance is and always will be a major challenge for financial institutions, particularly when it comes to customer onboarding.

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As regulatory pressures continue to mount, financial institutions are looking to their frontline staff to act effectively as their first line of defense when it comes to ensuring that the bank is acting in a compliant way with customers and discovering potential problems or bad actors in their own day-to-day operations.

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In the wake of recent well-publicized breaches of cybersecurity, regulations and new legislation has proliferated, putting bank directors in the cross-hairs of scrutiny for potential liability.

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Most financial institutions take an iterative approach to their budgeting process – running through multiple passes and scenarios before finalizing.

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On a regular basis, the banking regulators publish information about the most commonly cited compliance violations.

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