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When the lights go out: why does operational risk matter for financial stability?

BankUnderground

But they are only one part of operational risk, which includes losses from any kind of business disruption or human error, including power outages or natural disasters. Why does operational risk matter for financial stability? This includes not just the very large banks, but also critical financial market infrastructures (FMIs).

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Why Community Banks Can’t Afford To ‘Wait and See’ About Faster Payment Innovations

PYMNTS

Are community banks missing the chance to climb aboard the faster payments train? In late July, the Federal Reserve Faster Payments Task Force released its much-anticipated report on how to strengthen and operate the U.S. faster payments system. faster payment system. Millennials Moving Into And Up In The Business World.

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In Cash (And BillMo?) We Trust: Serving Mexico’s Wary Unbanked

PYMNTS

Cash is a physical guarantee of value, tangibly present in their hands; electronic payments are an invisible promise that has been broken too many times to count. LaBella said it all began with a strong online presence, built around a blog and community forum. It’s just a matter of getting users through the door.

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First-Party Fraud Must Be Stopped Across the Customer Lifecycle

FICO

And while 12% of customers say it is normal to add false items to an insurance claim, which is less than any other category, 14% say it is normal to exaggerate income on a mortgage application. Why This Matters Now. The current economic downturn may tip people towards believing that their circumstances make such behaviour acceptable.

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Zillow Successful in Lawsuit Triggered by CFPB Investigation

CFPB Monitor

Underlying the plaintiffs’ claims were alleged violations of RESPA with regard to the co-marketing program, which are the focus of this blog post. The court noted that there was a decline in the price of Zillow stock in the two days after Zillow provided an update in August 2017 regarding the status of the CFPB investigation.

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Montagu Norman and the transformation of the Bank

BankUnderground

In 1944, the Bank of England’s historian, John Clapham , looked back at the ways in which the Bank had changed since 1914 and remarked: ‘. By 1944, the proud institution, which in 1914 had been run by a board with little central banking experience, had espoused professionalism. from 1914 than 1914 was from 1714.’.

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Sizzle Or Fizzle: Payday Loans, Wells Fargo, Chip Cards – And Cybersecurity

PYMNTS

On the heels of Lending Club’s fall from grace this week – the day after to be precise – Wells Fargo announced that it would come to the rescue of SMBs by offering fast decisions on small business loans. Lawyers win even if they lose – since a billable hour is a billable hour no matter what the outcome.

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