All items from BankThink

Bank of America has taken a significant reputational hit as a result of its 2008 acquisition of Countrywide Financial. Could it have mitigated some of the damage with a different branding strategy?



From BankThink
Posted 1 day 17 hours ago

A Massachusetts mutual's failure to gain depositor approval for a conversion suggests a way for small towns to push back against the loss of their local banks, according to lawyer Kevin Handly.



From BankThink
Posted 1 day 19 hours ago

Editor's note: Morning Scan will not publish on Monday, Sept. 1 in observance of the Labor Day holiday. We'll be back on Tuesday, Sept. 2. Receiving Wide Coverage ...

Was JPMorgan Chase the Only Victim? Seven large banks said Thursday that they had no indication that their systems had been breached in the latest cyber attack on financial institutions, the Wall Street Journal and Financial Times both reported. Bank of America, Wells Fargo, U.S. Bancorp, PNC Financial...



From BankThink
Posted 1 day 20 hours ago

Efforts to limit so-called tax inversions are destined for failure until policymakers reform the corporate tax rate, writes Mark Olson of Treliant Risk Advisors.



From BankThink
Posted 2 days 17 hours ago

Banks that misinterpret regulatory guidance on vendor risk management can wind up shortchanging themselves and stifling industry innovation, according to consultant Paul Schaus.



From BankThink
Posted 2 days 19 hours ago

Receiving Wide Coverage ...

Hacked: JPMorgan Chase and at least four other banks were hacked this summer in a "sophisticated" cyber attack, the Times reports, and the hackers are said to have stolen customers' checking and savings account information. The FBI and Secret Service are investigating whether the hackers have Russian ties. JPMorgan "isn't seeing considerable fraud related to the attack," the Wall Street Journal reports, citing anonymous sources, without really explaining what that vague statement...



From BankThink
Posted 2 days 19 hours ago

For the first time in history, the Federal Reserve will have to engineer changes in the federal funds rate by using taxpayer dollars to pay a higher interest rate on reserves or to implement a reverse repurchase agreement program, according to Paul H. Kupiec of the American Enterprise Institute.



From BankThink
Posted 3 days 17 hours ago

Congress should impose national data security standards on retailers in order to ward off cyberattacks and ensure the safekeeping of sensitive customer information, according to Carrie Hunt of the National Association of Federal Credit Unions.



From BankThink
Posted 3 days 19 hours ago

Wall Street Journal

Dodd-Frank-mandated rules on providing more information on the quality of the mortgages and other loans that back securities are expected to be finalized Wednesday. The Securities and Exchange Commission's rules on asset-backed securities will require banks to provide data to investors like borrowers' credit scores and debt levels. The idea is to help investors rely less on credit ratings. The SEC is also expected to release rules forcing Moody's, S&P and other debt-rating...



From BankThink
Posted 3 days 20 hours ago

Many active-duty service members are unaware that they are eligible to postpone mortgage payments under the Servicemembers Civil Relief Act. A group of major financial services companies have pledged to improve communication about this option, according to the Financial Services Roundtable's Tim Pawlenty and John Dalton.



From BankThink
Posted 4 days 17 hours ago