Compliance Corner

Big Banks Pass Stress Tests, But The Fed Still Has Some Concerns

All 28 bank holding companies subjected to the Federal Reserve’s latest round of stress testing passed muster, more or less, but the Fed objected to the capital plans of two bank holding companies on qualitative grounds and issued a “conditional non-objection” to Bank of America’s capital plan.

National News
Technology Trends
Products & Services

Fiserv Amps Up Financial Crime Management Services

Financial services tech firm Fiserv this week launched four new solutions on its financial crime risk management (FCRM) platform.

The company has added a Check Fraud Manager, Payment Fraud Manager, Customer Risk Manager and AML Risk Manager, each of which incorporates real-time behavioral risk monitoring, advanced predictive analytics and real-time profile development on any entity, according to a press release.

Long Live the Lockbox

Digital online, remote deposit capture and mobile payment systems are growing rapidly, but they haven’t eclipsed the growth of the analog lockbox yet.

Regulatory Updates

Fed Paper Lays out Grand Payments Vision, Strategy

Positioning itself as a “catalyst for collaboration,” the Federal Reserve System recently laid out its vision for a payments utopia and outlined several strategies for getting there, including the creation of two industry task forces sometime early this year.

Basel III Presents Opportunities for Smaller Banks

In July 2013, the Federal Reserve Board approved a final rule to implement the Basel III regulatory capital reforms in the U.S. Under the final rule, large, national banks had to begin phasing in their Basel III requirements in January 2014; smaller institutions had until January 2015.

Fraud Prevention & Detection

Fed Invites Registration For Payments Task Forces

The Federal Reserve System this week opened up registration for two payments task forces it outlined in a recent paper that laid out the Fed’s grand vision for improving the U.S. payments system.