Risk Management

At a time when customers want more personalized service, financial institutions must balance credit risks with the importance of maintaining and nurturing customer relationships.

The causes of the recent financial crisis are well known – the tremendous expansion of subprime mortgages and their proliferation through the international financial system via securitization, for example.

If ever an incident breathed life into an essential discipline, it was the 2008 discovery that a rogue trader lost €4.

The potential impacts of the Dodd-Frank Wall Street Reform and Consumer Protection Act and of the guidelines described in Basel III have been felt from large banks to community banks around the country.

As we navigate the fallout of the worst financial crisis since the Great Depression, focus on the rapidly changing threats to information security, radically improve compliance infrastructures to support regulatory imperatives and work out new and sustainable business models, it almost seems unfair to throw another area of concern at banks.

Your company may not be fully complying with the wage and hour regulations of the U.

Concepts that start out simply rarely end that way, which you can see in the evolution of terminology.

As we move into the height of the 2012 presidential election cycle, issues of consumer protection in the financial services industry are front and center on the political agenda, as can be seen in the recent controversy involving the president’s recess appointment of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB).

Editor’s Note: For an update to the article, read the 2018 article: Today’s best practices for compliance risk assessment.

With Dodd-Frank financial reform legislation more than 2,300 pages long, it will take some time to understand its full impact on financial institutions.