Updated: 2011-04-30 18:48:15
Four years ago, the Council of Registered Ethical Security Testers began as an organization to bring standardization to the penetration testing industry. Today, CREST's scope is expanding across industries and global regions, says president Ian Glover.
Updated: 2011-04-30 18:48:15
Bank of the Ozarks, Little Rock, Arkansas, acquired the banking operations, including all the deposits, of two Georgia-based banks. To protect depositors, the Federal Deposit Insurance Corporation entered into purchase and assumption agreements with Bank of the Ozarks.
Updated: 2011-04-30 18:48:15
Premier American Bank, National Association, Miami, Florida, acquired the banking operations, including all the deposits, of two Florida-based banks. To protect depositors, the Federal Deposit Insurance Corporation entered into purchase and assumption agreements with Premier American Bank, N.A.
Updated: 2011-04-30 18:48:15
48 Failed Institutions so Far in 2011Federal and state banking regulators closed five banks and one credit union on Friday, April 29.
Updated: 2011-04-30 18:48:15
The Utah Department of Financial Institutions today appointed the National Credit Union Administration as the liquidating agent for Utah Central Credit Union of Salt Lake City.
Updated: 2011-04-30 18:48:15
Investigator Bryan Sartin on the Hot Trends and TargetsThe latest Verizon Data Breach Investigations Report is out, and the good news is: The number of compromised records is down. The troubling news is: The number of breaches is up. Bryan Sartin, one of the report authors, explains why.
Updated: 2011-04-30 18:48:15
Community Central Bank, Mount Clemens, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Talmer Bank & Trust, Troy, Michigan, formerly known as First Michigan Bank, to assume all of the deposits of Community Central Bank.
Updated: 2011-04-30 18:48:15
A review of the month's top stories by Managing Editor Tracy Kitten: A well-crafted e-mail tricked an RSA employee into opening a phishy e-mail that launched a sophisticated attack on the company's information systems, and the list of big-name corporations and brands affected by the Epsilon e-mail breach tops 100.
Updated: 2011-04-30 18:48:15
IT security and privacy lawyer David Navetta says revelations that mobile devices such as the iPhone, iPad and Android maintain hidden files tracking users locations could pose a threat to organizations, regardless of whether the devices are owned by individual employees, the company or government agency for which they work.
Updated: 2011-04-30 18:48:15
Stronger Authentication Can't Wait for New GuidanceIn the absence of the FFIEC's new guidance, industry experts say banks need to act now to help mitigate online risks associated with commercial accounts. "You can be sure the attacks won't abate until banks fight back," says Gartner's Avivah Litan.
Updated: 2011-04-29 17:39:40
Two European Commission probes into whether large financial firms illegally control the market for credit default swaps could drastically alter the derivatives business.
Updated: 2011-04-29 15:22:17
My review of the FDIC's report, up now on Dealbook. The punchline: So, you see, if you assume very stable asset values during a financial crisis and a buyer that is quite generous, it is quite easy to get to...
Updated: 2011-04-29 14:04:22
There's a proposed joint federal rulemaking on the Dodd-Frank Act asset securitization risk retention requirements that would mandate some form of "skin-in-the-game" in most asset securitizations. The proposed rule making provides a number of options for acceptable risk retention, and...
Updated: 2011-04-29 01:31:55
Nancy Reagan taught us to "Just Say No!" Now Dora the Explorer tells us some words of wisdom about uncompetitive debit card swipe fees: "Swiper No Swiping!" Swiper is the incorrigibly rapacious fox who is always trying to steal stuff...
Updated: 2011-04-28 15:55:40
In a little noticed footnote in the FDIC's recent report on a hypothetical liquidtion of Lehman under Dodd-Frank resolution authority, the FDIC states The exemption from the automatic stay under the Bankruptcy Code in the case of qualified financial contracts...
Updated: 2011-04-28 09:24:00
Do you have good credit? Compared to whom? While your credit price may depend largely on how your credit fares against objective criteria (above 680 to avoid being "subprime," for example), do you ever wonder how you are doing compared...
Updated: 2011-04-27 19:06:40
By popular demand, I have made some changes to the news feed for Credit Slips. The first change is that the Credit Slips feed is now available through FeedBurner. I am told this change should not affect anyone who already...
Updated: 2011-04-26 14:50:25
So the outgoing chair of ISDA complains that banks will have to pass on the costs of Dodd-Frank to end users of derivatives. Undoubtedly the usual crowd -- primarily the WSJ op-ed page -- will run with this evidence of...
Updated: 2011-04-25 10:47:05
Wall Street is splashing the cash in its campaign to weaken Dodd-Frank. And it's winning.
Updated: 2011-04-24 07:11:04
Updated: 2011-04-23 01:58:27
Amazon’s cloud computing offering went down, bringing lots of other dot.coms down with it. I have never been a huge fan of cloud computing, as I explained in a previous blog post, Cloud or Fog? My concerns have always been around security. If you don’t know on which server or in which data center your [...]
Updated: 2011-04-21 07:55:00
Updated: 2011-04-21 06:17:27
Updated: 2011-04-20 17:10:28
One thing to remember about credit rating agencies is that investors largely ignore them. Especially when they're carrying water for political interests.
Updated: 2011-04-20 07:06:04
Updated: 2011-04-19 06:53:11
Updated: 2011-04-18 20:05:46
Celent senior analysts, Banking Group
This event is free for Celent clients and the media. Non-clients can attend for a fee of USD $495. Please register by Thursday, June 9, 2011 to guarantee your space.
Please click here for more information.
Updated: 2011-04-18 12:40:48
Over the weekend I read an open letter by Senator Durbin to JP Morgan Chase CEO Jamie Dimon regarding interchange fees. In the letter Senator Durbin sets outs his arguments for why the Senate was compelled to introduce debit interchange regulation, which overall makes a very interesting reading.
One paragraph especially caught my eye (my Bold [...]
Updated: 2011-04-18 06:52:28
Updated: 2011-04-17 07:08:28
Updated: 2011-04-16 00:18:44
In the theoretical world of the analyst, we think about the perfect world and the perfect solutions. Regrettably, that isn’t the world that most of our clients live in. There are legacy systems, limited budgets, time to market issues, project risk, reputational risk, etc. This helps explain why established legacy systems are continuing to sell [...]
Updated: 2011-04-15 19:34:47
The Wall Street firm's CEO has turned the company into the world's most notorious investment bank. Here's why it's time for him to go.
Updated: 2011-04-15 11:51:06
The chemicals and energy company doesn't speculate on the price of oil -- it manipulates it. How? By stockpiling crude until the time is right to sell.
Updated: 2011-04-15 07:32:00
Updated: 2011-04-15 06:51:05
Updated: 2011-04-14 06:14:00
Updated: 2011-04-14 00:55:00
Updated: 2011-04-13 15:57:25
Updated: 2011-04-13 10:08:54
Updated: 2011-04-13 07:12:39
Updated: 2011-04-13 02:15:12
It’s been a busy few weeks. I rounded out a stretch of business travel with a visit to Austin, Texas for the NACHA Payments Conference. Bob Meara and I spent most of the time catching up with our clients and meeting some new and exciting prospects. My first day in Austin was a doozy, as [...]
Updated: 2011-04-11 14:21:12
In March, U.S. Bank launched two consumer/small business products after extensive pilot testing:
• Deposit Point, a desktop RDC product bundled with its online banking solution.
• Deposit Point Mobile, Initially available to U.S. Bank Mobile Wallet users who have an iPhone.
Following up on my previous post, Celent finds two aspects of the product launch noteworthy.
1. U.S. [...]
Updated: 2011-04-08 10:46:27
Everybody knows that it is cheaper to retain existing customers than to acquire new ones. But how well do companies manage customer retention?
I am running a Celent study to benchmark customer retention practices and performance. How do you define retention? What happens when the customer calls or writes to cancel? Do you have a dedicated team? What [...]
Updated: 2011-04-05 01:35:54
Celent analyst Hua Zhang
This event is free to attend. Celent clients and the media will have access to the webinar’s PowerPoint presentation after the event.
Please click here for more information.
