Author Archives: Yaren Ay

The regulatory “no man’s land” where banks must distinguish between abnormal behavior and take appropriate action without “tipping off” the authorized user and where customers must engage with banks in a fair manner is a place where both banks and their clients occasionally find themselves. The CFPB’s capacity to define what counts as an unfair,Continue reading “AML and UDAAP: Secrecy vs. Transparency”

According to Federal Reserve data, American holdings of corporate stocks and equity investment shares decreased to $33 trillion at the end of the third half from $42 trillion at the beginning of the year. Industry experts estimate that the current wealth deficits from financial markets could exceed $9.5 trillion to $10 trillion because of mainContinue reading “Stock Market Losses Have Reduced American Wealth by $9 Trillion”

According to latest data from mortgage juggernaut Freddie Mac, the average 30-year mortgage rate has increased to 6.02%, the very first time the number has crossed 6% since 2008. The Federal Reserve’s vigorous push to increase interest rates in an effort to combat inflation has resulted in the new rate level, almost double what itContinue reading “For the First Time Since 2008, Mortgage Interest Rates Have Risen Above 6%”

Investors expressed concern just a few months ago that the Federal Reserve was not combating inflation strongly. After several significant rate increases, some increasingly worry that the Fed’s monetary policy adjustment may cause the economy to enter a recession. Interest rate futures were putting in a 20% possibility that the Fed will increase rates byContinue reading “Many Investors Worry That the Fed May Raise Rates Excessively as Inflation Increases”

Keep Revising Contracts Most businesses are still active in amending their agreements to take into consideration the standard contractual terms of the European Union as of 2021.  Contracts between parties who disclose personal information to one another will be subject to new and different data protection rules that will be imposed under the modified CCPAContinue reading “How to Abide by the CCPA While the New Agency Updates the Regulations in the United States”

Due to enduring political, social, and economic challenges, such as Supreme Court rulings on gun crime, diversification, equity, and inclusion, the war in Ukraine, return-to-office (RTO) orders, and the ongoing Covid-19 crisis, U.S. firms are now confronting a greater number of dangers. Physical security, cybersecurity, IT, human resources, and legal and compliance executives believe inContinue reading “Unknown Threat? Despite Being Aware of the Issue, Businesses Continue to Ignore Real-World Threats”

Banks have been waiting for their regulators’ anticipated instructions on how to retain electronic assets on behalf of their clients for months, but the discussion has suddenly become much trickier. Many SEC registrants that hold cryptocurrency assets for their clients are required to report that risk as a liability on their financial statements according toContinue reading “How the SEC Hampered Efforts by Bank Authorities to Oversee Cryptocurrency Custody”

The SEC’s prosecution of chief compliance officers is still a contentious and sensitive issue. Questions about the function of CCOs and the criteria the SEC employs in disciplining them may become even more complicated considering a recent announcement of an imposed settlement with a financial advisory firm and its CCO. Two partners at Eversheds SutherlandContinue reading “Recent SEC Charges Indicate CCOs Are the Target”

Banks and their clients will profit greatly from the migration to the ISO 20022 message standard and its fuller, greater data structures to allow high-value payments. However, getting there will be difficult for banks this year and in the years to come. The biggest American banks with a wide geographic presence have been planning toContinue reading “Payment Messaging Improvement Provides Advantages”

Principal analyst, Enzo Iannopollo, at Forrester said that the “relationship between privacy, trust, and security is quite interrelated.” According to studies, people believe that building confidence in businesses is most dependent on the safety of their personal information. But “companies still have work to do in this area,” said Iannopollo. Data published by Iannopollo saysContinue reading “Experts Debate the Following Steps for Security, Privacy, and Trust”