More bad news on the economic front, as the U.S. stock market on Thursday faced a third day of downturn. The market plunged on Wednesday -- the Dow closing down 514 points, recording its seventh-worst point loss in history.
The fears sparking these drops are the repercussions from the two bubbles that have burst...
Worries of a world recession continue, as European stock markets opened sharply lower on Wednesday following losses in Asia amid an expected retreat on Wall Street. The bad news includes U.S. banking giant Wachovia announcing its third quarter report and the largest loss by a bank - nearly $24 billion. Wachovia, being...
The crime of deception is now even more deceptive.
Multi-channel fraud - schemes that are launched simultaneously via telephone, Internet, in person and via mail - is a growing concern for financial institutions. And the linked crimes aren't always easy to spot.
In this exclusive interview, security expert Diana...
I just have to chuckle sometimes when I read headlines like the one that appeared recently - 'Dark Market' Takedown: Exclusive Cyber Club for Crooks Exposed.
It seems that the FBI is getting pretty clever at "blending" into the cyber criminal world. A tip of the hat goes to Shawn Henry, the FBI Cyber Division...
Silver State was #11.
On Friday, Sept. 5, Silver State Bank of Henderson, Nev., was closed by the Nevada Financial Institutions Division - the 11th failed U.S. bank of 2008. Three days later, the bank's surviving branches reopened as part of Nevada State Bank. This is the story behind that transition, providing an...
Around the world, bank lending rates continue to ease despite economic uncertainty, with loosening of key inter-bank lending rates pointing to the stabilization of credit markets.
This comes after Monday's talk of a second economic stimulus package in the U.S. and the French government's injection of $14 billion...
Yes, yes, we all know the economy is hanging by threads right now. Banks that have been around forever are closing around us, the largest financial institutions are faltering, the stock market is down and up and down and up again, the Treasury is pumping hundreds of billions of dollars into the economy, and we are all...
The World Bank, an internationally-supported institution that provides loans to developing countries, is reported to have suffered a network intrusion that one insider labeled "an unprecedented crisis."
The breach, first reported by Fox News, alleges that servers in the Washington, D.C.-based bank's treasury unit...
Banco Santander, the Spanish banking giant and the fifth most profitable bank in Europe, has purchased the rest of U.S.-based Sovereign Bankcorp. The Spanish bank had previously bought a 25 percent stake in the bank holding company based in Wyomissing, PA., with operations across the Northeast.
A statement by Banco...
After a week of turmoil, the financial world markets leveled off this past Friday, as the Dow snapped a three-week losing streak with its best weekly gain in more than 5 years.
Monday's opening saw the Dow up 208 points, as Federal Reserve Chairman Ben Bernanke said that yet another economic stimulus plan may be in...
Interview with James Chessen, Chief Economist for the American Bankers Association
It's a frantic, historic time for banking institutions of all sizes, with mergers, acquisitions, failures and federal investment.
In an exclusive interview, James Chessen, Chief Economist for the American Bankers Association,...
OK, with less than two weeks to go, banking regulatory agencies are getting busy. Busier, I should say.
Last week saw both the OCC and FDIC release their approaches to the Identity Theft Red Flags Rule examination procedures.
No huge surprises here. But what's interesting is when you review the somewhat...
Despite economic setbacks this year, data security remains top-of-mind for the majority of community bankers.
Results from the 2008 Independent Community Bankers of America's (ICBA) Community Bank Technology Survey reveal that more than 80 percent of respondents are "vigorously maintaining data security" as their top...
Interview with David Richards, President of the Institute of Internal Auditors
Internal auditing has always been a key function within financial systems, and it becomes even more so when it comes to IT and information security.
In this exclusive interview, David Richards, President of the Institute of Internal...
All it took was a single word: "Recession."
Once a pair of Federal Reserve officials on Tuesday spoke openly of the U.S. economy being at risk of falling into recession, global markets lost all the steam they had gathered early in the week.
In the U.S., The Dow Jones Industrial Average on Weds, lost 733.08...
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