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News Archive

Year 2017 (49)
Year 2016 (87)
Year 2013 (3)
Year 2012 (35)
By Industry By Topic

2017

Nov

08

Cambridge's Darktrace fighting industrial cyber crime

World leaders move into new market

2017

Sep

11

2017

Aug

25

Could a cyberattack send your stock price crashing?

A 2015 Harvard Business Review article argued that data breeches at ..

2017

Jul

26

End to End Encryption and Proof of Supervision: Who Wins?

ustralia’s recent move to ban end to end encryption puts the spotlight

2017

Jul

22

Cyber Security Regulation Implemented by New York Department of Financial Servic

The New York Department of Financial Services has implemented a cyber security r

2017

Jul

22

Study predicts Machines to take over 30% of Work at Banks

According to McKinsey & Co, new technologies are poised to sweep through investm

2017

Jul

19

Incoming: I Just Wanna Cry Again, This Time Over Ransomware

Cyber attacks are certainly no exception.

2017

Jul

12

OCC report said risks remain top concern for federal banking system

n a new report, the U.S. Office of the Comptroller of the Currency (OCC) said st

2017

Jul

06

Current US Housing Finance System 'Unsustainable': Fed's Powell

Current US Housing Finance System 'Unsustainable': Fed's Powell

2017

Jul

05

N.Y. Cyber Security Regulations to be Faced by Insurance Professionals

NYDFS needs more than 3,000 financial services firms to maintain written policy

2017

Jul

05

Cyber Security a Global Struggle: UN Survey

According to the UN report, Cybersecurity is a global challenge

2017

Jul

01

SEC Rule 17a-4 & 17a-3 – Records to be made by and preserved by certain exchange

The U.S. Securities and Exchange Commission pursuant to its regulatory authority

2017

May

23

2018 HUD Budget Proposal Released by Trump Administration

The Trump Administration has announced its proposed 2018 budget for the HUD

2017

May

23

Trump Budget Will Reverse Burdensome Regulation

Trump Budget Will Reverse Burdensome Regulation

2017

May

18

It's Vital to Maintain Robust Security Informed Fitch Ratings to Servicers

Mortgage finance industry witnesses increasing number of cyber attacks

2017

May

12

Political Groundwork for Construction Loan Revival Starts

Political groundwork for construction loan revival starts

2017

May

12

FinTechs Need Regulatory Clarity Now More Than Ever Stated Bankthink

This is the time for FinTechs to have more clarity ever on regulations

2017

May

12

FHFA’S Watt: Congress Needs To Move On GSE Reform

Congress needs to move on GSE reform, according to FHSA

2017

May

10

Financial Choice Act Still Needs Work: Independent Mortgage Bankers

Financial Choice Act still needs work, according to Independent Mortgage Bankers

2017

May

05

Federal Agency Shuts Down Number of Guaranty Bank Branches

Guaranty Bank collapse marks second failure in the two weeks

2017

May

05

NASDAQ Expects Market Modernization to Benefit Small and Mid-Sized Firms

NASDAQ calls for market reforms to help small financial firms

2017

May

04

U.S. OCC Fintech Charter Plans to Delay as Thomas Curry Departs

Proposed OCC fintech charter plans expected to further delay

2017

May

04

Credit Union Consortium to Explore Distributed Ledger for Digital Identity

Credit union consortium to demo digital identities on DLT network

2017

Apr

16

APAC Banks Suspicious About Fintech Consortiums

APAC Banks Suspicious About Fintech Consortiums

2017

Apr

15

CFPB Proposes New Changes to HMDA

CFPB Proposes New Changes to HMDA

2017

Apr

12

Leading Banks Partnered with Broadridge to Pilot Blockchain-Based Proxy Voting

Big banks have teamed up with Broadridge for blockchain-based proxy voting

2017

Apr

12

Swift Unveiled New Services to Help Banks Spot Fraudulent Messages

Swift introduced real-time payment controls services for banks

2017

Apr

07

Genpact Exposed Sensitive Information of around 20,000 Scottrade Customers

Genpact by mistake exposed personal information on 20,000 Scottrade customers

2017

Mar

31

First Working Blockchain Solution for Syndicated Loans Market Demonstrated

Synaps Loans demonstrated the working blockchain for syndicated loan servicing

2017

Mar

29

Bank of America Ordered to Pay US$46 Million for Foreclosure Strategies

Bank of America was told to pay a US$46 million for forecloure strategies

2017

Mar

27

U.S. Supreme Court Refused to Revive US$5.7 Billion Settlement over Interchange

The U.S. Supreme Court refused to revive US$5.7 bn from Visa and MasterCard

2017

Mar

16

NYDFS Reignited its Arguments with OCC over Plans to Offer Banks Charter Status

NYDFS has re-ignited its war of words with the OCC over chartered status

2017

Mar

15

U.S. Fed Hikes Interest Rates by 25 bps

U.S. Fed raised the federal funds rate by 0.25%, marking the first hike in 2017

2017

Mar

15

CFPB Fines Nationstar US$1.75 Million for the Violation of HMDA

Nationstar agreed to pay US$1.75 million to CFPB for home mortgage data

2017

Mar

15

Wells, Deutsche Bank, RBS to Pay US$165 Million in NovaStar Deal

Wells, Deutsche Bank, RBS to Pay US$165 Million in NovaStar Deal

2017

Mar

14

Financial Institutions Spending on Cybersecurity Higher than Non-Financial Firms

Financial institutions spend three times the amount on cybersecurity than others

2017

Mar

09

Final NYDFS Cybersecurity Regulations Announced

NY Governor announced the final NYDFS cybersecurity regulations

2017

Feb

13

Polish Bank Attackers Targeted Banks in 31 Countries since the End of Last Year

Malware attackers of Polish banks have targeted banks in around 31 countries

2017

Feb

08

Lloyds Joins Bank Cyber Crime Alliance to Share Information on Cyber Crime

Lloyds joined an alliance of large banks and law enforcement agencies

2017

Jan

19

Western Union to Pay US$586 Million to the U.S. Government for Fraud Victims

Western Union to pay US$586 to settle Anti-Money Laundering charges

2017

Jan

19

U.S. Fintech Firms Set Up an Industry Group to Push for Data Access via APIs

Fintech firms have set up an industry group to push for consumers' rights

2017

Jan

19

TCF National Bank Sued by CFPB over Overdraft Fees

CFPB sued TCF for tricking consumers into costly overdraft seervices

2017

Jan

13

Blockchain to Impact Massive Cost Savings, According to a McKinsey Study

Blockchain to result in higher cost savings for financial services industry

2017

Jan

12

SWIFT to Explore the Potential of Blockchain to Provide Real-Time Reconciliation

SWIFT is exploring the potential of distributed ledger technology for banks

2016

Dec

21

Morgan Stanley Agreed to pay US$7.5 Million to SEC to Settle Charges

SEC charged Morgan Stanley for the violation of Customer Protection Rule

2016

Dec

20

Big Banks to Invest up to US$20 Million in Blockchain Start-up Axoni

U.S. banking giants are looking to invest in a blockchain startup

2016

Dec

15

Fed Finalizes the Final Elements of the Post-Crisis Regulatory Framework

Federal Reserve finalized one of its last remaining post-crisis regulation

2016

Dec

15

Cash will Account for Less than a Quarter of all Transactions in U.S.by 2026

Due to the rise of digital payments, the use of cash will come down

2016

Dec

15

CFPB Unveils a Web-Based Tool to Deliver Regular Updates on Consumer Lending

CFPB launched Consumer Credit Trends to monitor developments in consumer lending

2016

Dec

14

Fed Announces a Hike in the Interest Rates for the First Time in this Year

The Federal Reserve hiked interest rates for the second time in a decade

2016

Dec

05

CFTC Proposal for Accessing Traders’ Source Code Raises Serious Concerns

CFTC has approved proposals that would give it easier access to source code

2016

Dec

05

OCC Plans to Offer Financial Technologies Firms a Special Charter Status

The U.S. Office of the Comptroller of the Currency (OCC) has said it plans to st

2016

Dec

03

Hackers Targeted Russian Central Bank to Steal 2 Billion Rubles

Hackers have stolen 2 billion Rubles from Russia's Central Bank

2016

Oct

28

S&P Does Not Expect Any Near-Term Impact of Blockchain Technology on Banks

S&P does not see blockchain technology having any near-term impact on banking

2016

Oct

24

10 Members Joined Hypeledger Project to Create Advanced Blockchain Technology

Hyperledger announced an addition of 10 new members to the project

2016

Oct

24

Synchrony Financial to Join R3 Blockchain Consortium

R3 Consortium announced the addition of Synchrony Financial to its partnership

2016

Oct

24

FS-ISAC to Form a Dedicated Group to Deal with Threats to Big Banks

FS-ISAC announced the creation of the FSARC to tackle financial risks

2016

Sep

30

Deutsche Bank to Make a Settlement of US$5.4 Billion with Department of Justice

Deutsche Bank nears s settlement of US$5.4 billion with the U.S. DoJ

2016

Sep

29

Banks are Expected to Start Using Blockchain Technology by Next Year

According to a report by IBM, banks to start using blockchain by the next year

2016

Sep

27

SWIFT to Announce Additional Cyber Security Measures for Banks

SWIFT announced additional efforts to beef up security on its network

2016

Sep

13

Recent Cyber Attacks Raise Questions About Blockchain Security

A series of recent cyber attacks against digital currencies has left the financi

2016

Sep

12

US Congress Votes to Pass a Bill Supporting Blockchain Technology

The US House of Representatives has passed a non-binding resolution calling for

2016

Aug

26

U.S. Banking Regulators Outlines Steps to Tighten Cyber Security Efforts

U.S. bank regulators to tighten the cyber security efforts over SWIFT

2016

Aug

25

CFPB Fines First National Bank of Omaha for Credit Card Add-On Products

First National Bank of Omaha to pay US$32 million fine to CFPB for a fraud

2016

Aug

25

World’s Biggest Banks Team-up to Develop Blockchain Settlement System

Wall Street giants are teaming up for the development of USC

2016

Aug

24

R3 CEV Blockchain Consortium Filed its First Patent Application

R3 CEV has filed its first patent application, shedding light on Corda

2016

Jul

29

CFPB Proposed Updates to “Know Before You Owe” Mortgage Disclosure Rule

CFPB announced updates to its mortgage disclosure rule

2016

Jul

28

Canadian Banks to Start Experimenting with the Blockchain Technology

Around seven Canadian banks are experimenting with blockchain technology

2016

Jul

14

R3 Blockchain Consortium to Develop a Repository of Smart Contract Templates

The blockchain consortium, R3, will create a master template for smart contracts

2016

Jul

14

Citigroup to Pay US$7 Million Penalty for Providing Incomplete Data to SEC

SEC has ordered Citigroup to pay US$7 million fine to settle charges

2016

Jul

14

Santander Bank to Pay US$10 Million Fine for Illegal Overdraft Practices

CFPB has charged Santander Bank to pay a US$10 million fine

2016

Jul

08

U.S. Banks Required to Adopt Safeguards for Avoiding Cyber Attacks

US regulators plan to require banks to adopt safeguards for cyber security

2016

Jul

07

EU to Approve a New Set of Cyber Security Laws to Cover Online Banking

EU approved a new set of cyber security laws for essential services industries

2016

Jun

30

US$24.5 Million Refunded to Consumers in the First Four Month of 2016 by CFPB

CFPB paid around US$24.5 million in restitution to consumers

2016

Jun

30

US$10 Million Stolen from a Ukrainian Bank using the Swift Network

Hackers used the Swift network to steal US$10 million from a Ukrainian bank

2016

Jun

29

CPMI & IOSCO Release Guidelines for Financial Institutions on Cyber Security

CPMI & IOSCO Release Guidelines for Financial Institutions on Cyber Security

2016

Jun

22

Seven Banks to Deploy Ripple’s Distributed Ledger Technology for Payments

Seven global banks will go for Ripple's techology for cross-border payments

2016

Jun

22

CFPB Issued an Updated Mortgage Servicing Manual to Avoid Technology Failures

CFPB updated its mortgage service exam manual to avoid any technological failure

2016

Jun

18

Bank of England to Partner with PwC for Exploring an Opportunity with Blockchain

Bank of England partners with PwC for Blockchain related developments

2016

Jun

18

Hacker Takes Away US$50 Million Worth of Ether that Lies Within DAO

The hacker snatched away US$50 million worth of virtual currency from DAO

2016

Jun

03

ESMA Reported Challenges in Linking Blockchain with Existing Systems

ESMA identifies challenges in linking blockchain with existing systems

2016

Jun

03

Ping An, a Chinese Financial Services Giant, Joined R3’s Blockchain Consortium

A Chinese financial services gianat, Ping An, joined the blockchain consortium

2016

Jun

02

FDIC Announced US$190 Million Settlement over RMBS Claims

FDIC announced $190 million settlement of RMBS claims with eight large institute

2016

May

27

Federal Reserve to Outline Capital Requirements for Insurance Firms

The U.S. insurance firms to face new capital standards proposed by the Fed

2016

May

27

Santander Launched UK’s First Int'l Payment Service Powered by Blockchain

Santander claims to be UK's first money transfer servicer to use blockchain

2016

May

27

The Use of Blockchain Technology could Save US$6 Billion a Year

The use of blockchain technology for clearing and settlement could save US$6 bn

2016

May

27

More Banks Reached Out to Investigators for Possible Network Breaches

Around 12 more banks contacted Bangladesh Bank data breach investigator

2016

May

21

Swift calls on banks to report hacks

SWIFT is calling on clients to report on attacks on their systems

2016

May

21

FDIC Won the Right to Pursue a Lawsuit against 11 Banks

The Federal Deposit Insurance Corporation won the right to pursue a lawsuit

2016

May

20

SEC Charges a Professional Sports Gambler and a Board Member for Insider Trading

SEC announced insider trading charges against a professional sports gambler

2016

May

13

Blockchain Consortium R3CEV Looking for New Funding

R3CEV LLC consortium is seeking a new funding of US$200

2016

May

13

SWIFT Warns Banks of New Malware Threat

SWIFT has issued a warning to all international banks for a new malware threat

2016

May

13

M&T Bank to Pay US$64 Million to Resolve Allegations about FHA Loans

M&T Bank will pay US$64 to the federal government

2016

May

08

Bureau of Labor Statistics Reported Higher Employment in the US Nonbank Lending

More employment is created by non-bank lenders in the US in March this year

2016

May

03

Commercial Real Estate Lenders Could Face Higher Capital Requirements

Regulators may require banks with CRE loans to maintain higher capital ratios

2016

May

03

ESMA to Propose Two Amendments to its RTSs under MiFID II and MiFIR

ESMA proposes to revise the RTS on non-equity transparency

2016

Apr

29

DBRS Expects to Have Higher Mortgage Volumes this Year

Housing mortgage purchase volume is expected to be higher this year

2016

Apr

29

Fed Reported Only Two Bank Failures in the First Four Month of 2016

Only two U.S. banks fell till date in the year 2016

2016

Apr

28

CFPB Plans to Amend Mortgage Disclosure Rule in Late July

CFPB is planning to propose changes in the mortgage disclosure rule in late July

2016

Apr

28

SEC Plans to Build Consolidated Database to Track Trading Activities

SEC has set out plans to build a database to help regulators

2016

Apr

27

Higher Interest Rates Leads to Decline in Mortgage Applications

Mortgage Bankers Association announced a decline in the mortgage applications

2016

Apr

26

CFPB Issued Consent Orders to a Law Firm, its Two Partners, and a Debt Buyer

CFPB takes action against these firms for alleged FDCPA and Dodd-Frank violation

2016

Apr

18

New Malware Steals US$4 Million from US and Canadian Banks

According to IBM’s X-Force research team, a new breed of malicious software has

2016

Apr

12

OCC Plans to Offer Financial Technologies Firms a Special Charter Status

OCC plans to start accepting applications from fintech companies for charter

2016

Apr

11

CFTC Proposal for Accessing Traders’ Source Code Raises Serious Concerns

CFTC has approved proposals that would give it easier access to source code

2016

Mar

24

European Commission Pushes ESMA to Rethink on MiFID II Reforms

The European Commission has asked ESMA to reconsider some aspects to MiFID II

2016

Mar

24

Banks are Showing Concerns Against Upcoming Basel IRB Consultation

Banking industry worried about Basel IRB consultation

2016

Mar

23

Banks to Face Unprecedented Moment if They Dismiss Bitcoin to Embrace Blockchain

Banks are planning to dismiss Bitcoin for taking Blockchain up in demand

2016

Mar

23

Banks and Credit Unions to Demand for Negotiation on Proposed Accounting Plan

Banks and Credit Unions urge compromise on new accounting plan

2016

Mar

18

Wall Street Giants to Face New Limits on Credit Exposure to Other Large Firms

U.S. regulators to limit big banks' dealings with others

2016

Mar

17

CFPB Brings P2P Lenders Under its Radar

CFPB to monitor P2P transactions under a review process

2016

Mar

17

SEC yet to Mandate Clearing of Single-Name Credit Default Swaps

SEC not yet mandated single-name credit swaps to comply with trading requirement

2016

Mar

16

MiFID II Changes to be Debated in European Parliament

European Commission to vote on four changes to MiFID II text

2016

Mar

15

Credit Availability Remained Unchanged in February 2016

Accroding to MCAI, mortgage credit availability was unchanged in February

2016

Mar

15

Fed to Rule out New Rules for Confining the Risk Faced by Banks

Fed is taking next steps to minimize the risk posed by big banks

2016

Mar

12

Citigroup Executives Escaped Criminal Charges for Pre-crisis MBS Sales

The U.S. authorities not to pursue criminal charges against Citigroup executives

2016

Mar

04

SEC Charges Manhattan Based Lending Company with Fraud

The Securities and Exchange Commission charged American Growth Funding II

2016

Mar

04

European Commission Confirms MiFID II Delay

Implementation of MiFID II has been extended for one year

2016

Mar

04

CFTC Charges Florida-Based Asset Manager with Engaging in Illegal, Off-Exchange

CFTC filed a complaint against the asset management firm for engaging in illegal

2016

Mar

03

Banks are Facing Challenges Implementing IFRS

Challenges faced by banks towards new regulatory reforms

2016

Mar

01

Blockchain Technology Disrupts Firms’ Post-trade Services

Impact of Blockchain Technology on Post-Trade Services