Bankruptcy Blogs

How OCC can help banks disrupt the payday loan industry

05/23/17

With the future of payday lending in flux, the Office of the Comptroller of the Currency has the ability to help provide consumers with a better credit option.

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Open banking is inevitable. Let’s rethink data security, too

05/23/17

Better information security will remain the foundation of success as the financial services industry moves quickly to engage new business models.

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Banks pour $107M into blockchain consortium R3

05/23/17

The money will be used to hire more people. It is also a morale boost for the group, which has suffered some high-profile recent defections.

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Citi settles Banamex probe; bitcoin surges again

05/23/17

Bank agrees to pay $97 million as DOJ drops criminal charges involving money laundering at Citi uni; digital currency price roars past $2,200 as Japanese catch the bitcoin bug.

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'A needle in a stack of needles': Using AI to detect money laundering

05/23/17

David McLaughlin, founder and CEO of QuantaVerse, discusses how artificial intelligence can improve anti-money-laundering compliance; the problems of de-risking and "defensive filing" of suspicious activity reports; the Clearing House's proposal to reduce banks' AML costs; and more.

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Close loopholes for online lenders, N.Y. regulator urges Albany

05/22/17

Online lenders are evading New York regulations by claiming their loans are “made” by federally chartered or out-of-state partner banks, Department of Financial Services Superintendent Maria Vullo told lawmakers Monday.

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Top Fed stress test staffer to retire

05/22/17

Federal Reserve official Tim Clark oversaw the development of the agency’s stress testing program. He will see through this year's round of stress tests and leave this summer.

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Citi affiliate settles AML violations probe tied to Mexico-bound remittances

05/22/17

Banamex USA will pay $97.4 million to the Justice Department over widespread anti-money-laundering abuses.

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Why big banks are in an arms race to upgrade the 50-year-old ATM

05/22/17

The gray-bearded ATM would seem like a goner since mobile usage is surging and cash withdrawals are flatlining. But banks such as JPMorgan, B of A and PNC are pouring money into overhauling them in a bid, oddly enough, to attract a younger generation of customer.

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Trump budget to propose risk management upgrade for FHA

05/22/17

The Trump administration will ask for more funds to improve the Federal Housing Administration's risk management systems as part of its budget expected to be released Tuesday, according to a leaked version.

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