TSB Train Wreck: Massive Bank IT Failure Going into Fifth Day; Customers Locked Out of Accounts, Getting Into Other People’s Accounts, Getting Bogus Data
An epic IT disaster at the UK’s TSB illustrates how fragile banking systems are.
Read more...Category Archives: Banking industry
Hoisted from E-Mail: Brexit, Security, and the UK’s Coming Poodledom
Adding to the tally of how the UK will come out a loser thanks to Brexit.
Read more...Bank Watch: Wells Fargo Fined $1 Billion
The OCC and CFPB imposed $1 billion in fines on Wells Fargo Friday, continuing the kind and gentle treatment of bank transgressions pioneered by the previous administration.
Read more...Disruptive Finance Huffing and Puffing Won’t Blow Big Bank Houses Down
Why newfangled finance will not have much impact on the banking industry.
Read more...Trade War or Not, China Risks a ‘Minsky Moment’
How China’s officials are trying to protect the county’s economic glass jaw.
Read more...The Hudson Report: The Economic Impact of Bipartisan Bank Deregulation
Michael Hudson debunks the talking points used to sell the just-passed bank deregulation bill.
Read more...Bank Enthusiasm for Blockchain Waning
Blockchain hype is finally meeting commercial realities.
Read more...Central Banks in the Age of Populism
Central banks are under more and more pressure to respond to public dissatisfaction with their stewardship. Is that such a bad thing?
Read more...How Well Does Financial Regulation Work?
Sadly, reactive regulations don’t have a great track record.
Read more...Senate Expands ‘Lobbyist Bill’ to Deregulate Real Estate
Why the plan to weaken regulation of commercial real estate lending isn’t such a hot idea.
Read more...Waiting for the Chinese Bear Stearns
Why the Chinese shadow banking system is a possible source of systemic risk: a outstanding worry that has not gotten any better.
Read more...Meet the Democrats’ ‘Dirty Dozen’ Working to Gut Financial Reforms
Yet again, the Democrats sell out voters to moneyed backers, this time ones in the banking industry.
Read more...Wall Street Journal Hyping Amazon Banking: “Ridiculous, Ridiculous, Ridiculous”
The Wall Street Journal gets itself duped into publishing some particularly flaky, um, nebulous, um, aspirational Amazon banking ideas.
Read more...Elizabeth Warren Slams Democrats for Helping Gut Financial Regulations
The financial services industry is about to get even more unnecessary, risk-feeding breaks, thanks in no small measure to Democrats.
Read more...More Frequent Central Bank Communication Worsens Financial and Macroeconomic Forecasts
Too much communication from central banks to the market may be a problem, creating a cacophony of policy voices.
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