News Topic: Risk management

As the COVID-19 virus spreads globally, many U.S. financial institutions are said to be taking steps to protect employees and minimize disruption. But only a handful are sharing specifics, to avoid contributing to any public panic. ... Read full article

Regions, Citizens, BMO and others are adopting principles IBM unveiled at Davos. ... Read full article

Ally Financial's recently announced $2.65 billion cash-and-stock deal for CardWorks, which offers unsecured credit cards among other products, places a high price tag on a traditionally risky product. ... Read full article

Goldman Sachs pledged in late 2019 to stop financing projects in coal and Arctic oil exploration. Activist groups and Democratic senators say other large institutions should do the same given the economic and environmental risks from climate change. ... Read full article

Investors are reacting skeptically to the auto lender's deal to acquire CardWorks for $2.65 billion. ... Read full article

There's much bank executives can learn from the 737 Max and Deepwater Horizon catastrophes, which could have been averted if regulators had been notified sooner. ... Read full article

A New Jersey jury has put banks and other businesses on notice about their liability for incidents involving clients who mistreat employees in the workplace. ... Read full article

The timing couldn’t be worse for ag and energy lenders as well as global banks, which were all counting on the Chinese market to help bolster commercial lending and fee income. ... Read full article

The new accounting standard meant to prevent another financial crisis could actually trigger one. ... Read full article

Outages or disruptions of GPS signals — sometimes malicious, sometimes not — could quickly knock out computers, ATMs and card networks. ... Read full article

To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers. ... Read full article

For banks and other financial institutions to survive and thrive in the age of mobile payments and e-commerce, they need to continue to enhance their mobile apps with more innovations, tighter security features and more time-saving capabilities. ... Read full article

The Massachusetts senator and presidential contender sent a letter to eight of the biggest U.S. banks asking about how they assess climate-related risks to assets and how they plan to mitigate social and economic fallout. ... Read full article

The two agencies cited geopolitical tensions in issuing the warning and best practices tips, though they stopped short of referring directly to the recent U.S. clashes with Iran. ... Read full article

WhatsApp may be a great way to communicate with friends, but when Wall Streeters touch it, their firms get very nervous. ... Read full article

Financial institutions need to be aware of the platform model, strategic and reputational hazards that come with granting access to their networks. ... Read full article

Granting a third party access to a bank's systems in exchange for more advanced technology can help prevent fraud, but it can also attract cyberattacks. ... Read full article

Fintechs want access to customers’ financial data, but banks are resisting, on security concerns; Deutsche Bank may cut bonus pool 20% after 14% drop last year. ... Read full article