Banking Articles

These Banking articles will give you the news and information you need to stay up to date in the ever changing Banking industry.

June 27, 2014 – 2,206 views
Banker Resource
The Consumer Financial Protection Bureau has spent its initial years in existence taking on rogue collection agencies, exploitative banks, and tough credit card terms of service. Its most recent effort, however, might be a bigger boon to banks than to the average consumer. The agency recently revealed plans to increase the effectiveness and efficiency of privacy disclosures. These disclosures must be sent out by financial institutions when an account is first opened and on an annual basis thereafter, and they must also be sent if the financial institution engages in any information or data sharing with third-party enterprises throughout the year. Under new rules, certain banks would be exempt from sending these disclosures. It is perhaps the biggest adjustment to the Gramm-Leach-Bliley Act since its inception. Full Story 
June 27, 2014 – 2,091 views
Banker Resource
The economic crisis that began in 2007 and accelerated dramatically in 2008 reached the peak of its impact at the beginning of 2009 as President Barack Obama took office in the United States. Shortly thereafter, the administration attended a meeting of the G20 finance ministers where the Basel III Accord was reviewed and adopted. This accord contained a number of provisions designed to prevent such a wide-ranging, global economic crisis from happening again. Mostly, the accord was concerned with capital and liquidity levels at major, national and multinational financial institutions. These institutions were the root of the problem in 2009, and targeting them was a popular way to ensure future stability. Full Story 
June 3, 2014 – 2,603 views
Banker Resource
Now more than ever, excellent customer service is vital for the proper functioning of the banking industry. If customers lose faith in the process of banks, they may resort to alternative currency methods like BitCoin. Banking professionals must try to deliver excellent customer service on a consistent basis in order to retain clients. Full Story 
May 2, 2014 – 1,154 views
Banker Resource
Cyber crimes can no longer be ignored. Malware attacks, like Automatic Transfer System (ATS), are not a hypothetical situation, they are happening in the real world. Full Story 
April 23, 2014 – 1,981 views
Banker Resource
Lenders such as banks and financial institutions loan money on a regular basis to individuals, companies and even the government. These loans are required for various purposes. Banks use this money for their own growth and development, to set aside an amount for credit risks and bad debts, while using the principal amount along with the interest to give out more loans. Full Story 
April 16, 2014 – 1,324 views
Banker Resource
While the financial services industry is not new to vendor management and oversight issues, the enforcement measures taken by Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) highlight the increased attention taken by federal regulators. The board of directors of any bank must remain vigilant of the possible hazards due to outsourcing of functions to the third parties. If it is not done, then the financial institution may face considerable financial and reputation harm. Full Story 
April 16, 2014 – 1,355 views
Banker Resource
The Consumer Financial Protection Bureau (CFPB) has brought another errant company to book. It has ordered Bank of America to pay its customers $727 million in damages for indulging in unfair practices on the sales of add-on credit card products. Full Story 
April 14, 2014 – 1,059 views
Banker Resource
Conservatives are fuming at the Consumer Financial Protection Bureau (CFPB) owing to the presence of a socialist in its advisory board. They are pressing Congress to force more transparency on the workings of the bureau. Full Story 

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