Anonymous hacker targeting banks, oil companies

Banks, fintechs differ on new Fed payment system | OCC clarifies interest terms during bank loan sales | Consumer spending shows signs of slowdown Created for {EMAIL} | [Web Version]( November 20, 2019 [SIGN UP]( ⋅ [FORWARD]( [] Risk Management and Insurance [] [Banks, fintechs differ on new Fed payment system]( The Federal Reserve Bank's new payment system has reignited a debate between banks and fintechs. Banks have their own payment system and say more regulation is need for tech companies that act like banks, while fintechs see the federal payment system as a way to enter the payment business. [Roll Call (free content)]( (11/19) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [OCC clarifies interest terms during bank loan sales]( The Office of the Comptroller of the Currency's proposal released Monday allows banks to keep the same interest rate for the entire sale of a loan and the Federal Deposit Insurance Corp. is expected to release a similar proposal this week. The proposal is in response to 2015's Madden v. Midland Funding case in which an appeals court said buyers can apply the usury law in their states. [American Banker online (subscription required)]( (11/18) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Consumer spending shows signs of slowdown]( The Wall Street Journal (tiered subscription model) (11/15) [] - [African Americans have larger student loan debts]( CBS News (11/15) [] Cybersecurity [] [Infamous hacker targeting banks, oil companies]( A well-known hacker dubbed Phineas Fisher has offered $100,000 in cryptocurrency to anyone who can hack into the systems of banks, oil companies or large corporations and release information that they deem is "in the public interest." Phineas Fisher has taken responsibility for other hacks, including one in 2016 of the Cayman Bank and Trust Co. [Vice News]( (11/17) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Prepare for cybersecurity risks related to tech advancements]( The Business Journals (tiered subscription model)/Cincinnati (11/15) [] Government Regulation [] [Fed: Industry deems trade row top risk to financial stability]( Market participants consider the US-Chinese trade dispute the biggest threat to stability of the US financial system, the Federal Reserve says in a report. The second-biggest concern is whether central banks can cope with a recession. [Agence France-Presse]( (11/16) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] Innovation [] [Tech companies continue to enter banking industry through partnerships]( Google is the latest technology company to offer banking services, following up on services offered by Apple and Venmo. Regulators are still developing a possible special charter for tech companies, but until then the companies are partnering with banks. [Fortune]( (11/18) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Tech partnerships could lead to more deposit for banks]( Bloomberg (tiered subscription model) (11/17) [] News from Aon [] [Fight To The Top: Is Collaboration The New Competition?]( Businesses are facing increasingly complex challenges. Collaboration within or across industries, powered by the increasing efficiency in the way data are collected and analyzed, could be the key to addressing many of those challenges. Can your competitors help you stay agile and relevant? [Read more.]( [LinkedIn]( [Twitter]( [Facebook]( [Email]( Learn more about Aon Financial Institutions: [Aon Home Page]( | [Aon Financial Institutions]( [Thought Leadership]( | [Media Room]( [] [] The world is possibility if only you'll discover it. Ralph Ellison, writer [LinkedIn]( [Twitter]( [Facebook]( [Email]( About Aon Financial Institutions The Aon Financial Institutions Practice develops risk transfer and consulting solutions for a wide range of businesses including banks, insurance companies, asset managers and diversified investment and finance firms. Our experts draw on deep experience in developing products involving management and professional liability, property and casualty, cyber, operational and enterprise risk management, environmental liability, employee benefits, and transactional solutions. These solutions help clients build a tailored risk management program that empowers results for their organizations. Contact Aon Joel Sulkes Aon Global Financial Institutions Practice Leader t 212-441-2364 joel.sulkes@aon.com [www.aon.com]( [Linkedin]( [Twitter]( About Aon Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. 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