BankThink

Visa and MasterCard have little real interest in implementing effective security because they donÂ't absorb fraud losses.

Zombie companies have survived on the loose monetary policy of the past few years, designed to help at-risk businesses stay afloat and keep people employed in the wake of the financial crisis. But forthcoming changes will make it hard for these firms to repay their debt.

The authors of banking law have shown a strong and recurring interest in name-identification with their work. Eponyms can provoke emotional reactions and facilitate the merger of persona and policy.

Receiving Wide Coverage ...

JPM Madoff Settlement: It's official. JPMorgan Chase will pay roughly $2.6 billion to resolve allegations that it ignored signs about Bernie Madoff's massive Ponzi scheme. As anticipated, the bank's latest settlement includes a deferred prosecution agreement that saw JPM skirt criminal prosecution "in exchange for the payment and a promise to reform its practices." (Anony-mice provided Dealbook with a bit of a play-by-play regarding the settlement negotiations that involves a face-to-face meeting...

Receiving Wide Coverage ... Confirmed: The Senate voted 56 to 26 to confirm to approve Janet Yellen as the first Federal Reserve chairwoman. Yellen's historical confirmation was by "the thinnest margin of Senate approval for a Fed chairman in the central bank's history," reports the Times, though it's worth noting that a few lawmakers missed the vote due to inclement weather (See: polar vortex.) Yellen will take office on February 1 and "will immediately be forcedÂ...