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The Digital Risk and Investigative Landscape
Thursday, April 19, 2012 (1074 reads)

Businesses are showing a growing understanding that cyber attacks are not a matter of if, but when, and that the best defense is being prepared with a good offense. They need to think proactively about protecting customer information, and in turn their own corporate reputations, by treating cyber security as a process rather than a one-time product.

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Reduce Redundancies in Fraud and AML Investigations
Thursday, April 19, 2012 (1712 reads)

Over the past two years we have sat through numerous sessions on the topic of combining anti-money-laundering (AML) and fraud at various conferences. Numerous articles have also been written on the topic. Until recently, most of the talk has centered on bigger institutions. But we think the focus should be on how financial institutions of various sizes are working on fraud and AML today.

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Protect Your Data or Suffer Customer Loss
Thursday, April 19, 2012 (998 reads)


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Volcker Rule Requirements for Community Banks
Thursday, April 19, 2012 (1682 reads)

Last November, the federal bank regulatory agencies, together with the Securities and Exchange Commission, issued proposed regulations implementing Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. That section contains prohibitions and restrictions affecting the ability of banks and other financial companies to engage in proprietary trading. These prohibitions and restrictions of the Dodd-Frank Act commonly are referred to as the “Volcker Rule.”

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How to Avoid Check Fraud in the Digital-Imaging Age
Thursday, April 19, 2012 (1145 reads)

Instant availability of funds is and always has been a great marketing move. Today banks of all sizes struggle to replace lost fee income. They’re expanding their target market for check capture services from well-known, trusted users to broader mass market. But it isn’t 2004 anymore. Now, practically everyone carries a high-resolution camera within their mobile phone. Would-be thieves don’t even have to walk into the lobby with a note – they can rob the bank from the parking lot. And then go down the street and do it again at another bank.

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The Under-Banked Consumer: Not ‘Them’ but ‘Us’
Thursday, April 19, 2012 (1574 reads)

Banks have always talked about “banking the unbanked,” but the underlying assumption has been that the unbanked need to be educated to become bankable. Banks have never been willing to change their product offerings to meet this massive consumer group’s real needs, including check cashing, money transfers, walk-up bill payments or prepaid debit cards.

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Wag the Dog The ‘Occupiers’ vs. the Banks
Thursday, April 19, 2012 (1854 reads)

Since its inception last year, the grassroots initiative Occupy Wall Street has gone downtown in a big way. The anti-1 percent folks now have office space both in New York City and Chicago.
Occupy Chicago has two units leased in the Riverfront Work Lofts. In downtown Manhattan, Occupy Wall Street has a 2,500-square-foot office on Broadway near Zuccotti Park, the site of the protesters’ original occupation.

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Provident Buys Gotham
Thursday, April 19, 2012 (2705 reads)

Some of the world’s largest banks are facing new competition in their New York City backyard from a pesky local upstart.
Provident New York Bank recently gained its first beachhead in Manhattan, acquiring Gotham Bank. The bold move puts the $3 billion-plus bank, based in Rockland County in the Lower Hudson Valley outside New York, in direct competition with the likes of $1.8 trillion Citigroup and the $2.2 million JPMorgan Chase & Co.
Montebello-based Provident’s move is yet another example of community or regional banks seeking new growth at the expense of the behemoths of the industry, challenging the titans in their urban strongholds. And New York is an appealing battleground, with the city on the rebound after a tough economic and real estate downturn.

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NY AG Talks ‘Clearing The Air’
Thursday, April 19, 2012 (2267 reads)

In a tone that echoed a long-ago New York attorney general named Dewey, Eric Schneiderman told a packed breakfast at the Roosevelt Hotel of his plans for cleaning up the financial mess.
“When I first took office, there was an effort by the states to resolve issues such as robo-signing in the foreclosure process,” he said at the breakfast on Feb. 16, sponsored by Crain’s New York. “I believe deregulation went too far and many safety features were taken off the system. And folks took advantage of it. There was a big push for people to refinance their homes and everything was rolling along. In 2004, interest rates began to rise and you would think the market would go down. But the amount of questionable loans went up and the quality of the securities declined.”

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Christmas Comes Early to Tarrytown
Thursday, April 19, 2012 (1596 reads)

“Yes, Virginia, Bank Loans are Available” was the catchy subject of an ACGNY panel discussion on Feb. 17 in Tarrytown. And while Christmas was 10 months away, the panelists appeared to believe the lending spigot is open and the economy is rebounding.
The discussion was moderated by Barry Korn, managing director, Barrett Capital Corporation. The panelists were Stephen Altneu, vice president, Capital One Business Credit; Barry Karen, first vice president, IDB Bank; John Mulvey, senior vice president, Wells Fargo Bank; and Oleh Szczupak, executive vice president and chief credit officer, Keltic Financial Services.

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Banks Exploring Conversion from Federal to State Charters
Thursday, April 19, 2012 (3040 reads)

Mergers at both the federal and New York banking regulatory levels have prompted a number of federally chartered thrift institutions to switch to a New York charter.
Banks operating in New York have the choice of having either a state or federal charter. Charter conversions, from either state to federal or federal to state, are nothing new, but in recent months, the New York Department of Financial Services, which oversees the state’s banking industry, has reported a surge in applications from federally chartered banks seeking state charters.

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Local Winners of the ABA’s ‘Lights, Camera, Save’ Video Contest Announced
Thursday, April 19, 2012 (1516 reads)

New York’s winners of the “Lights, Camera, Save!” video contest for teens aged 13-18. The video contest was designed to inspire teenagers to learn about the value of saving and motivate their peers to become life-long savers.

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Ridgewood Savings Bank Promotes Peter Boger to Chairman and CEO William McGarry to Retire
Thursday, April 19, 2012 (1757 reads)

Ridgewood Savings Bank Promotes Peter Boger to Chairman and CEO
William McGarry to Retire
Ridgewood Savings Bank announced that Peter M. Boger will be its new chairman and CEO. He will continue to serve as the bank’s president.
Boger, who joined Ridgewood Savings Bank in 1999, succeeds William C. McGarry as chairman and chief executive officer. McGarry is retiring after serving as chairman and CEO of Ridgewood Savings Bank since 2004.

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