By Mark Rennie Davis, MasterCard | January 25, 2013
U.S. card issuers who delay migration to EMV face a rapidly increasing risk of loss, largely due to the impact of fraud migrating from countries where EMV deployment is more advanced. U.S. issuers should begin to make preparations now.
President Barack Obama will
nominate former federal prosecutor Mary Jo White to head the
Securities and Exchange Commission (SEC), a White House source
said, restoring the agency's power to work on its overhaul of
Tycoons are shunning banks and
wealth managers, preferring to put a flood of money from selling
stakes in companies into property and new ventures rather than
trust industries whose reputations have been battered by the
global financial crisis.
U.S. authorities should
reorganize the country's largest banks to protect against the
risk of institutions that are "too big to fail" and that would
saddle ordinary Americans with the cost of a bailout the next
time they get in trouble, a senior Federal Reserve official said
By Brett Wolf and Carrick Mollenkamp and Emily Flitter, Reuters | January 11, 2013
A U.S. regulatory probe of JP
Morgan Chase & Co is expected to result in an order that
the bank correct lapses in how it polices suspect money flows,
in an action expected as soon as Friday, people familiar with
the situation said.
An outspoken Senate critic of
the Federal Reserve said on Wednesday that he would reintroduce
legislation to ban bankers from the boardroom of the 12 regional
Fed branches, citing potential conflicts of interest.
By Paul Carrel and Marc Jones, Reuters | January 07, 2013
A decision by global
regulators to give banks more time and flexibility to build cash
reserves will not boost lending or speed recovery in
debt-strapped Europe, where firms and households have scant
appetite to borrow.