On Friday, NACHA announced a six month extension of the deadline for International ACH Transactions (IAT) from March 2009 to September 2009. Many smaller banks were caught by surprise by the changes necessary to support IAT. Although software vendors are prepared to...
The American Banker features two "insider perspectives" on the regulatory approach of Presidential candidates Obama and McCain:Obama on RegulationAccording to Daniel Tarullo, economic adviser to Obama The presumptive Democratic nominee backs a detailed list...
The debate over the Federal Reserve's actions to address financial panic intensified yesterday as Jeffrey Lacker, Richmond FR Bank President, warned against the danger of encouraging further risk taking: Excerpt from Bloomberg``The danger is that the effect of...
I was so preoccupied with NACHA Payments 2008 that I almost missed this special report from The Economist on the future of banking. The emphasis is investment banking and the credit crisis, rather than payments, but it is very interesting nonetheless. [excerpt from...
Today's American Banker features a timeline of the Federal Reserve's actions since August of last year. Graphical representation makes the impact of opening the discount window to investment banks really stand out (blue bars). A Crisis...
from the St. Louis Post Dispatch, via What I learned Today Meanwhile, up on Capital Hill the regulators were busy defending their actions, receiving coverage everywhere: CNBC Video: Financial All Stars on Capital Hill Wall Street Journal Bloomberg The New York Times...
(via PaymentsNews) In anticipation of VISA's IPO (scheduled for later this week, as if the market isn't crazy enough) Adam Levitin, a professor at Georgetown Law, has a thoughtful post outlining a payments future no longer dominated by the card networks, one...
For those of you that still rely on spreadsheets - and there are more of you than care to admit it, I know - CFO Magazine has a round up of spreadsheet auditing tools here.
Knowledge@Wharton weighs in on the ongoing discussions to soften the impact of Sarbanes-Oxley, particularly the onerous demands of section 404. The article summarizes arguments in favor of and against SOX and concludes as follows:For all the talk about protecting...
Former congressman Michael Oxley continues his media tour. In this interview with CFO Magazine he blames the PCAOB for starting "all the problems" with the Sarbanes-Oxley Act. See my previous post for highlights from Oxley's interview with the...
