The United States Federal Reserve recently issued a cease-and-desist order against United Texas Bank, highlighting major deficiencies in the bank's risk management systems and cryptocurrency dealings. This order underscores growing concerns from regulators about financial institutions' compliance
The global financial landscape has evolved significantly since the Global Financial Crisis (GFC) of 2007-2008, leading to the proliferation of non-bank financial intermediaries, collectively referred to as "shadow banks." As regulations tightened around traditional banks, these shadow banks grew
The financial industry is at the cusp of a significant transformation, driven by Generative AI (GenAI), which is rapidly becoming a crucial tool in the fight against modern financial frauds and crimes. The article by Ellen Roberson delves into the innovative applications of GenAI, highlighting
Bank of America (BoA) recently faced a corporate culture crisis, bringing to light critical disconnections between business metrics and ethical responsibilities. This misalignment severely impacted employee well-being and raised concerns about the firm’s long-term sustainability. Insights from
As more regional and community banks attempt to scale up to become more competitive, that growth can challenge their ability to effectively secure all their systems and data, which in turn can create lapses that result in critical cybersecurity issues. The risks go beyond simple growth, with other
Operational risk management in the U.S. banking sector has increasingly become a point of contention between banks and their regulators. The core of the debate lies in the balance of scrutiny between operational risks, such as IT and cybersecurity, and more traditional financial risks like interest
