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.

December 11, 2013 – 1,095 views
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The Federal Deposit Insurance Corporation is all set to release the long awaited document which outlines the details of how it plans on using ‘single entry point’ method for rebuilding failed companies. Last year, the FDIC had backed this strategy as a part of the Dodd-Frank Act powers implementation for unwinding huge firms. However, the agency consistently said that it will be providing further details in its policy document while also explaining how this single point entry method will work practically... Full Story 
December 4, 2013 – 1,197 views
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The controversial Volcker Rule which will ban proprietary trading by US financial institutions will soon be put to vote by regulators. The Rule which was in the making for a long time is being considered necessary in the wake of the financial collapse, which was blamed on the financial sector by many... Full Story 
November 27, 2013 – 1,206 views
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Legislators in Washington sat down to review and propose amendment to the Volcker rule to the Dodd Frank act. The rule which was intended to keep financial firms away from reckless speculation was in force for several years. The rule made several recommendations and required close monitoring of banks. However, lately several shortcomings have been identified in its operation and implementation. It has been proposed to make changes to fix those shortcomings in the future. Full Story 
November 27, 2013 – 1,190 views
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The Obama administration has appointed Gary Gensler as the chief financial regulator for Wall Street and its banks. Gary Gensler was formerly employed by Goldman Sachs. He is now in charge of directing regulation and making recommendations that affect the financial sector and major banks. Gary Gensler has made several radical recommendations that have caught the ire of the banks. Many banks fear that excessive regulation by Gensler might jeopardize their ability to freely conduct their business. They fear that their market freedom might be taken away from them. Full Story 
November 26, 2013 – 1,083 views
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A guaranty is an agreement that has been made by a third party to pay and/or perform the commitments or obligations of a debtor to satisfy the debt that is owed to a creditor. This is generally upon the occurrence of a certain event, usually a default by the debtor, which is under the terms of the original loan agreement. Like any other contract, a guaranty requires definiteness, consideration and mutual assent. It must be in writing and signed by the guarantors... Full Story 
November 26, 2013 – 1,207 views
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The Office of the Comptroller of the Currency has become the first main banking regulator that has issued an update on the guidelines of third party risks. Other federal bank regulators are expected to follow in the lead of the OCC’s guidelines. This now means that banks must prepare for greater scrutiny of their third party and vendor management programs. The freshly updated guidelines have quite a few specified areas which place banks in a position where they need to improve their vendor management programs regarding third party relations... Full Story 
November 20, 2013 – 1,078 views
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In a recent meet at the Federal Reserve Bank of St. Louis, Rohit Chopra from Consumer Financial Protection Bureau said that it would be very irresponsible of the financial regulators if they made any more delays in shielding the student loan debt market worth $1.2 trillion from a severe crunch. Chopra is the top official of the bureau and looks into the student loans department... Full Story 
November 13, 2013 – 1,148 views
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New changes have been introduced in the standards for banks that hire independent consultants while under any sort of enrollment action. These new standards were recently issued by the Office of the Comptroller of the Currency. This latest guidance directs... Full Story