PYMNTS

JANUARY 15, 2021

It also said the bank’s Check Cashing Group admitted that it failed to file thousands of suspicious activity reports (SARs) as well as thousands of Currency Transaction Reports (CTRs) from 2008 to 2014. The statement from FinCEN said Capital One established the Check Cashing Group as a business unit within its commercial bank in 2008.

Capital 268

Capital New Jersey Groups New York 268

PYMNTS

OCTOBER 21, 2019

A major security flaw has been discovered in the Vatican’s eRosary smart device. But French security researcher Elliot Alderson said that he actually discovered a major security flaw in the app within 15 minutes, which would allow a hacker to take over a person’s account by knowing the user’s registered email address.

Security 104

Security Data Retail Technology 104

Chris Skinner

MAY 22, 2017

The post Things worth reading: 23rd May 2017 appeared first on Chris Skinner's blog.

Regulation 157

Regulation Security 157

PYMNTS

APRIL 7, 2020

A Manhattan court denied Goldman Sachs Group’s appeal to dismiss a class-action lawsuit that accuses the investment bank of hiding information when it created subprime securities prior to the Great Recession, according to a report in Reuters. Securities and Exchange Commission (SEC) investigation.

Arkansas 200

Arkansas Security Fraud Management 200

PYMNTS

MARCH 1, 2019

launched FPS in 2008. Security strategies. Faster payments aren’t all doom and gloom, though, and proper security measures can help businesses reap the benefits of real-time payments schemes with fewer detriments. Once payments started moving in seconds, however, fraud instances quickly shot up.

Security 134

Security Payments Fraud Cards 134

PYMNTS

JUNE 29, 2020

EY has been auditing for Wirecard since 2008 when it was hired to conduct a special audit over allegations that there were deficiencies in the company’s financial statements, and then EY continued as the company’s regular auditor from 2009 onward.

Fraud 327

Fraud Risk Management Report Management 327

PYMNTS

OCTOBER 20, 2016

3D Secure 2.0 ’s Built around the increasing popularity of mobile commerce, 3D Secure 2.0 On Wednesday, November 2nd at 1:00 PM (EST) join ecommerce advisors James Rendell, CA Technologies ; Paul Baker, Mastercard ; and Karen Webster, Market Platform Dynamics for a live digital discussion surrounding 3D Secure 2.0. Paul Baker.

Security 100

Security CA Cards Strategy 100

Payments Source

JANUARY 7, 2020

Treasury’s Direct Express prepaid card program, beating out other banks for the third time since the program launched in 2008, despite a high-profile glitch in 2018 that drew lawmakers’ scrutiny. Comerica will continue to handle the U.S.

Cards 97

Cards Security Data Compliance 97

TheGuardian

AUGUST 14, 2023

The civil action was filed in November 2018 alleging misconduct related to UBS’s underwriting and issuance of residential mortgage-backed securities (RMBS) issued in 2006 and 2007, according to the justice department. Continue reading.

Fraud 61

Fraud US Groups Security 61

PYMNTS

APRIL 30, 2019

Cross River and RS2 understand that technology innovators demand regulated, secure payment solutions that address dynamic, ongoing changes in the marketplace,” said Cross River Senior Vice President, Public Affairs Phil Goldfeder. “In RS2 builds payment solutions for upwards of 14 million merchants.

Digital Banking 179

Digital Banking Payments Software Fintech 179

PYMNTS

JULY 29, 2019

He said he got the idea for the business after the big financial crisis of 2008. Banks aren’t necessarily a secure place for your money,” he said. Many people have been using Glint to get a larger return on savings, and Cozens said if the system crashes, people can always claim their physical gold. They lend out more than they have.”.

Cards 191

Cards Colorado Denver Fintech 191

South State Correspondent

MARCH 13, 2023

While we will cover the general lessons HERE , in this article, we wanted to focus on the root cause – how and why interest rate risk caused the second-largest bank failure in US history (Washington Mutual was the largest in 2008). Equally important is the bank’s securities duration, as shown in the graph below.

Risk Management 221

Risk Management Management Community Bank Community 221

PYMNTS

MAY 15, 2018

are defaulting on subprime auto loans at a higher rate than during the financial crisis in 2008. The default rate during the 2008 financial crisis was around 5 percent. With that in mind, subprime-auto asset-backed security sales are at about $9.5 Borrowers in the U.S. billion, on track with the $9.6

Maine 136

Maine Security Data Lending 136

PYMNTS

MARCH 10, 2020

District Court for the Northern District of Illinois accusing Fifth Third of being fully aware that employees were opening accounts for customers without their knowledge since 2008. . Our controls are designed to prevent and detect unauthorized account openings.”.

Los Angeles 167

Los Angeles Illinois Meeting Retail 167

PYMNTS

SEPTEMBER 20, 2018

It’s been ten years since the 2008 financial crisis, and it is easy to forget the financial system is one built on trust,” he added. Securities and Exchange Commission (SEC) filed a civil complaint against the men in the same court for violations of federal securities laws. In addition, the U.S.

Baltimore 167

Baltimore Maryland Texas Nevada 167

PYMNTS

JANUARY 8, 2019

She has hired Emily Parcell, who worked as then-Senator Barack Obama’s Iowa political director for the 2008 caucus and as a senior advisor to Clinton in the state in 2016, as well as Brendan Summers, who was the 2016 Iowa and national caucus director for Bernie Sanders during his presidential campaign.

Iowa 189

Iowa Washington National System 189

Let's Talk Payments

AUGUST 9, 2017

In the aftermath of the 2008 economic crisis, financial services regulators introduced a number of new measures to safeguard both the integrity and security of the financial system.

Compliance 106

Compliance Industry Report Fintech 106

TheGuardian

DECEMBER 27, 2022

PwC, administrator of Lehman’s London arm since bank’s failure in 2008, secures three more years to finish process Administrators will spend at least three more years winding up the London-based arm of Lehman Brothers, swelling the almost £1.1bn in fees that PwC has already raked in since the bank’s calamitous collapse in 2008.

Security 98

Security US 98

PYMNTS

JANUARY 24, 2019

A server running an Elasticsearch database contained sensitive data from as far back as 2008 that included loan and mortgage agreements, repayment schedules and other financial and tax documents. The database, which is believed to have been exposed for two weeks, was discovered by independent security researcher Bob Diachenko.

Taxes 155

Taxes New York Security Data 155

PYMNTS

JUNE 29, 2016

First, the housing market is still recovering from the worldwide crash in 2008, but the crash affected millennials less than other demographic groups because many were still in high school or college at the time and were mostly already living with their parents. That number hit 21.3 million households in 2014, while 11.4

Millennials 186

Millennials Study Trends Marketing 186

Bank Innovation

FEBRUARY 1, 2019

The 25% plunge -- the worst since July 2008 -- capped a tumultuous three days that shaved about €7.2 Wirecard AG fell the most in more than a decade on Friday after a report that a law firm found evidence of alleged forgery, the latest fraud allegations to beset the digital payments company. billion ($8.3 […].

Fraud 150

Fraud Report Payments Company 150

CFPB Monitor

DECEMBER 17, 2014

We should ultimately pass legislation to make this protection permanent, but I’m glad we were able to secure peace of mind for our veterans for one more year.”. Congress extended the protection period from three to nine months back in 2008 and then to one year in 2012.

Leadership 133

Leadership Policies Compliance National 133

PYMNTS

FEBRUARY 25, 2019

The banking giant, which bought the longstanding Wall Street firm during the financial crisis in 2008, now plans to rebrand most of its wealth-management business as just Merrill. With the rebranding, the corporate client unit will be called Bank of America and the investment and trading arms will now go by BofA Securities.

America 164

America Management Branding Security 164

PYMNTS

MARCH 9, 2020

The CEO of the Securities Industry and Financial Markets Association (SIFMA), Kenneth Bentsen Jr., The regulators involved include the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the Financial Industry Regulatory Authority (FINRA). New York Gov.

New York 154

New York Regulation Meeting Industry 154

PYMNTS

MARCH 25, 2020

Henry was the CEO of prepaid debit card firm Netspend from 2008 to 2014. Henry served as president and CEO at Euronet through 2006 and was a board member until 2008. In 2017, he was appointed director of security firm The Brink’s Company and was elected chairman of the financial services company Paysign in 2018. million.

Fintech 139

Fintech Operations Innovation Company 139

PYMNTS

JUNE 7, 2020

CEO Glenn Fogel at Booking, the Amsterdam-based travel search engine for lodging reservations, told Bloomberg the pandemic would chill global travel more than the 9/11 terrorist attacks, the SARS epidemic and the 2008 financial crisis combined. Demand for air travel is also showing some early signs of life.

North Carolina 197

North Carolina San Francisco Tennessee Texas 197

PYMNTS

MARCH 31, 2020

That has made it less of a risk than debt accrued by banks to finance leveraged buyouts for high-yield companies, but the hefty bill is the biggest to hit the banks since the 2008 financial crisis.

Mobile 171

Mobile Groups System Security 171

PYMNTS

JULY 16, 2020

A lawsuit in 2008 by a small shareholders’ association alleged that Wirecard was using customer deposits as its own cash, resulting in “suspiciously high” margins and suggested the company was involved in things like online pornography and gambling.

Report 169

Report Fraud Regulation Marketing 169

PYMNTS

SEPTEMBER 18, 2018

15, 2008 fall of Lehman, which filed for bankruptcy that day. Much has been said about the wealth effect of those who held and hold stock market securities, and much has been written about income disparity. It should be noted that almost all mortgage security finance (i.e., The median household income in the U.S.

Lending 148

Lending Innovation Fintech Cards 148

Perficient

JUNE 25, 2024

Learning from history, he referenced the lack of regulatory controls in derivatives and financial engineering before the 2008 financial crisis, and more recently, the unregulated growth of cryptocurrencies leading to the “Crypto Winter” of 2022.

Case Study 221

Case Study Risk Management Analysis Innovation 221

Perficient

AUGUST 16, 2023

He was promoted to President and CEO in 2008. Shan Hanes, who served as the bank’s President and CEO until its closure, joined the firm in 1993 as an agricultural loan officer and Informational Technology Officer. billion in deposits), the failure still poses lessons for bank executives.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

FEBRUARY 24, 2020

“As a leader in payments technology, Mastercard is to grow its workforce with notable investments in its artificial intelligence, cyber security, blockchain, user experience teams, and more. Mastercard first opened Ireland operations in 2008, with only 36 people on staff at the location.

Cyber Security 159

Cyber Security User Experience Technology blockchain 159

PYMNTS

SEPTEMBER 12, 2019

Compliance failures are prevalent worldwide: Approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance between 2008 and 2018. The People’s Bank of China announced in March that it plans to create rules for regulating and securing the FinTech sector, for example. . imposed a full $23.52

Fraud 189

Fraud Fintech Compliance Regulation 189

Bobsguide

JUNE 18, 2017

Justin Coker, Vice President - EMEA at Skybox Security. It’s boom time for UK mergers and acquisitions — recent M&A activity stats from the ONS showed that the value of domestic M&A reached its highest value since 2008, with foreign M&A also reaching new levels.

Security 92

Security 92

PYMNTS

JANUARY 23, 2019

Four former high-ranking bank officials at Barclays have been accused of hiding 322 million pounds ($420 million) in payments to Qatar in exchange for investing in the bank and cash infusions in 2008, according to a report from Reuters. percent before acquiescing to 3.25 percent in return for investing in the bank.

Fraud 115

Fraud Security Marketing Report 115

PYMNTS

OCTOBER 21, 2018

The bank took write-downs on loans secured by a mall property in South Carolina and a residential development in North Carolina, the analyst told the FT. Bank OZK said when announcing the write-downs that the two loans were issued in 2007 and 2008 and were older than the rest of its loans, which were originated mainly since 2015.

South Carolina 158

South Carolina North Carolina Arkansas New York 158

PYMNTS

MAY 15, 2019

The bug affects Windows 7, Windows Server 2008, Windows 2003 and Windows XP. This is certainly one to take seriously,” said Chris Coulter, vice president of technology with BlackBerry’s Cylance security group. Windows 10 and Windows 8 users won’t be affected by the flaw, Microsoft said.

Security 115

Security Software National Groups 115