More robust risk management frameworks and technology infrastructures are at least as important as higher capital standards in preventing another global financial crisis.
Bank directors and officers who agree to settle claims brought by the Federal Deposit Insurance Corp. in its capacity as receiver may find themselves next confronting a lifetime ban from the industry.
For too long, both companies and regulators have bought into a narrative that makes the financial industry dependent on the government for rescues and direction. ItÂ's time to pen a new plot.
Appointing a chief ethics officer can help banks maintain their integrity and foster public trust. Banks should also develop decision processes that explicitly address the question of whether they should do something, as opposed to whether they can.
Almost a year after the Volcker Rule was finalized, banks still have questions about which regulators are taking the lead on the rule and how the supervisory and enforcement process will work.
If advance providers want to avoid the same overregulation to which banks have been subjected, they should take action now to improve fee disclosures and collection practices.
A new study suggests that most consumers only waive their right to sue companies in court and participate in class actions because they don't understand the contracts they're signing.
Mandatory retirement ages and term limits can backfire by forcing out board members with badly-needed skills. It's better for boards to take the necessary, though socially uncomfortable, step of convincing underperforming directors to leave.
The Federal Reserve was comfortable as a behind-the-scenes regulator, but itÂ's now expected to be a public enforcer as well. Asking the agency to balance these contradictory roles is a recipe for trouble.
