By Richard Sandor
Federal Reserve Bank of New York President John Williams recently told an audience of financial firms he sensed foot dragging among market participants when it comes to finding an alternative to the Libor interest rate benchmark.
By Anton J. Moch
Picture this: a customer calls to tell you the new mobile payment application you offer through your third party data processor resulted in an unauthorized draw on his $50,000 credit line. The result is an improper electronic payment being made to an outside party.
By Scott Sargent
For the past several years, federal regulators have targeted vendor management risk as one of their top regulatory priorities. The growing reliance on third-party service providers is only increasing the need and demand for effective vendor management programs. On April 2, the FDIC reminded the banks under its supervision that it expects them to comply with the guidance previously issued.
By Justin Dullum
Jo Ann Barefoot has been doing a lot of globetrotting lately. Since being named the first female Deputy Comptroller of the Currency in 1978, Barefoot launched a career in the private sector and describes herself as a “serial entrepreneur.” She is currently CEO of Barefoot Innovation Group, something of a think tank for financial technology, regulatory reform and the future of banking. She is a co-founder of Hummingbird Regtech (industry shorthand for regulation technology), and is a senior fellow emerita at Harvard University’s John F. Kennedy School of Government’s Center for Business & Government.
By Tom Bengtson
Can regulators reduce the regulatory burden for bankers without hurting industry safety and soundness or weakening consumer protections? Two FDIC chairs — one former, one current — shared comments that addressed that question during recent forums in Minneapolis.