Bank mergers and failures. Market fluctuations. Looming layoffs. The new administration and the changes it will bring to financial services regulation.
There is much in the news these days for financial institutions - and their customers - to consider. But at a time when consumer confidence in banking is at a...
There's so much we can't control today. The global economy, the fickle stock market, rampant layoffs, decisions being made in Washington, D.C. All these elements affect us, but there's little to nothing we can do to influence them.
Helpless feeling, no?
That's why this week, in advance of the Thanksgiving...
Interview With David Schneier of Icons, Inc.
The market fluctuates, budgets shift, staffing resources change. But regulatory mandates? They stay the same.
Despite the economic downturn and its broad effects, banking institutions continue to be held to - and measure up to - exacting standards from regulatory...
As wild as the end of 2008 has been, I can't get my mind off 2009.
This is because I'm just now helping to put the finishing touches on our annual State of Banking Information Security survey, which helps us take the pulse of the banking/security community, so we can gauge the priorities for the year ahead.
Last...
OK, so first came the subprime mortgage debacle, and it was bad.
Then came the global credit crunch, and it was worse.
Reading the economic tea leaves, the feds in October swept in with a $700 billion economic relief package designed to bail out some of the nation's troubled financial institutions. So, then we...
Hard to believe that November 1 is already upon us, bringing the onset of the Identity Theft Red Flags Rule compliance. We've been reading about and discussing it for so long that it almost seemed as if though it would always remain six months away, but even a watched regulation eventually transitions into effect. ...
As institutions look at their calendars and see that November 1 compliance deadline looming, it's time to realize that this isn't just another regulation. The ID Theft Red Flags Rule is about stopping identity theft from happening to your customers.
When I hear information security professionals say they're...
It's interesting how with everything going on in our industry this year, between the credit crisis, bank mergers, bank closings and emerging regulatory compliance requirements (and on and on and on), that we haven't had time to discuss much else. However, work continues out in the trenches, money is still moving into...
Like most of our readership I've been so caught up in the drama of our current economic crisis that I've thought of little else. But just the other day I participated in a management discussion in which I was asked what the practice has been hearing in the field. Are our clients consumed or distracted by what's...
It used to be the mantra - "Bigger is Better" was the one thing that made sense when it came to risk management models. Goldman Sachs and Morgan Stanley's conversion into bank holding companies, allowing them to buy other retail banks and more readily borrow money from the Federal Reserve Bank, means that long-chanted...
And so the hits just keep on coming.
Just when you think you've seen the biggest bank failure in modern times in IndyMac, WaMu comes along and tops them all.
Just when you think you've seen the blackest of Black Mondays in your lifetime, a darker day dawns, and the stock market reels from a record plunge of 777...
I have issues with weak passwords and easy to guess answers for challenge questions on password resets. This was Sarah Palin's (Republican vice presidential candidate)apparent problem with her personal Yahoo! email account. It only took a Google search and some thought on a young hacker's part to find out the...
I was presenting at a credit union conference this week, where the session before mine covered current economic conditions. The timing was perfect in a macabre sort of way, as the 24 hours prior were filled with news about the Merrill Lynch rescue and Lehman Brothers collapse. As part of the Q&A phase, a prediction...
You know someone. Out of millions of Merrill Lynch customers, you should know at least one. Combine Bank of America's many more millions of banking customers, and you have to know someone. I know quite a few myself. All of these people are waiting to be absorbed into what is ultimately a new regime. This state of...
I can't say enough about the mud slinging and finger pointing being done during the continuing mortgage crisis. It is getting ugly out there. Even the government-sponsored enterprises Fannie Mae and Freddie Mac are now under the watchful conservatorship eye of the federal regulators, as the mortgage foreclosures top...
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