Credit cards
UK trio sentenced for phishing scam
Three men have been sentenced to a total of 13 years and six months for their part in a phishing scam that attempted to steal more than £1.3 million
The FDIC’s only safe harbour is from itself: Joseph Mason column
The US Court of Appeals has ruled against the FDIC in a case that gave rise to the regulator’s original safe harbour provisions for securitisation deals.
US regulatory changes weigh on consumer ABS
Analysts declare Talf a success but say consumer ABS growth could be hampered by regulatory and accounting uncertainty
FDIC reveals impact of securitisation rule change
The latest US bank results show the effect of recent changes in accounting rules, which brought $295 billion in securitised loans back on to balance sheets
Opening cards
Unprecedented losses on credit card loans are haunting banks and could cause pain for investors in credit card asset-backed securities (ABSs). But despite this, dealers say government support has rehabilitated the market for credit card ABSs. Mark…
House of cards
Credit Card Fraud
HSBC adopts SAS enterprise fraud system
Daily news headlines
UK fraud police unit claims £315m saved
Daily news headlines
UK gang makes £3.5m from cloned credit cards
Daily news headlines
FDIC Announces $114 million Compucredit Settlement
Losses and Lawsuits
Fed proposes unfair practices rules for cards and overdrafts
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CP3 comments: Any last words?
The comments elicited by the Basel Committee's third consultative paper (CP3) show just how little consensus exists between regulators and banks on the Basel II capital Accord. Dwight Cass highlights some of the telling comments.
Basel Accord finalisation delayed by six months
The Basel Committee on Banking Supervision announced today that the finalisation of Basel II will be postponed from year-end 2003 to mid-year 2004.
Credit card capital charges will be lower under Basel II
Major banks will probably have to set aside a lot less capital as a cushion against losses from defaulting credit-card holders under the Basel II bank accord than they in effect do now, global banking supervisors said in early July.