Bank job cuts expected to continue despite brighter outlook

Bank job cuts expected to continue despite brighter outlook | ACH payments now give banks less time to monitor for fraud | Economist: Auto-loan industry not necessarily headed for bubble Created for {EMAIL} | [Web Version] January 4, 2017 [SIGN UP] ⋅ [FORWARD] Risk Management and Insurance [Bank job cuts expected to continue despite brighter outlook] Bank stocks have soared since Donald Trump's election, and bank earnings are expected to rise in the coming years. But analysts say the industry is likely to continue shedding jobs as banks replace traders and branches with technology. [Bloomberg] (12/30) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] [ACH payments now give banks less time to monitor for fraud] Automated Clearing House credit-based payments now clear within hours rather than days, giving banks less time to monitor for fraudulent transactions and opening the door to more criminal activity, experts say. "Recently we've seen more evidence of incidences of ACH fraud than we have in the past," said Fiserv Vice President Andrew Davies. [AmericanBanker.com (free content)] (12/29) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] - [Economist: Auto-loan industry not necessarily headed for bubble] Car and Driver (12/2016) Cybersecurity [Bangladesh central bank workers might have enabled hackers] A police official heading the investigation of hackers' theft of $81 million from the Bangladesh central bank says the bank's own IT workers might have played a role in the incident. The theft was carried out in early 2016 via the Society for Worldwide Interbank Financial Telecommunication system. [Reuters] (12/29) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] Government Regulation [US relaxes rules on small banks' reporting] [US relaxes rules on small banks' reporting] (Pixabay) US regulators have agreed to lighten requirements on quarterly reports from banks that have no foreign offices and have assets of less than $1 billion. Those institutions, which make up the majority of US banks, can start using the streamlined reporting model in March. [Reuters] (12/30) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] [Court: SEC's hiring of administrative law judges violates Constitution] The US Court of Appeals for the 10th Circuit in Denver has ruled that the Securities and Exchange Commission's system of hiring administrative law judges to hear appeals is unconstitutional. Because federal courts are divided on the constitutionality of the process, the issue could end up before the US Supreme Court. [Pensions & Investments (free access for SmartBrief readers)] (12/29), [InvestmentNews] (12/29), [MLex (subscription required)] (12/28) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] - [Yellen could face challenges in 2017] St. Louis Post-Dispatch/Tribune News Service (12/30) Innovation [Bank makes waves by helping fintechs] Cross River Bank is wielding influence larger than its modest balance sheet because of willingness to embrace technology and to work with the financial-technology sector. "Asset growth is not something I want to focus on; transaction growth is," said CEO Gilles Gade. [S&P Global Market Intelligence] (12/22) [LinkedIn] [Twitter] [Facebook] [Google+] [Email] - [Commentary: Regulatory rollback could benefit fintechs] The Hill (12/29) News from Aon [Aon's One Brief] The One Brief is a guide to the issues that business decision-makers need to know about. Developed by Aon, the world's leading provider of risk management, insurance brokerage and human resources solutions, it focuses on decoding our increasingly interconnected world -- giving you the essential insights you need to make its complexities more understandable. Today's world is rich with information, and parsing out what deserves your attention, and what can be safely ignored, has become almost impossible without a team of expert advisers to alert you to the key issues. The One Brief is here to help you focus on what's important, and to help you better adapt to this rapidly changing, interconnected world. Below are the top 3 articles for 2016: [Cyber and the C-Suite] [The Impact of Natural Disasters] [How Can We Beat Unconscious Gender Bias In The Workplace?] [LinkedIn] [Twitter] [Facebook] [Google+] [Email] [Aon at RIMS 2017] The Aon list of speakers for RIMS 2017 has been finalized and plans are well underway. The meeting will be held April 23 to 26 in Philadelphia, at the Philadelphia Convention Center. What hot topics are you interested in exploring at RIMS 2017? Learn more about our [speaker sessions and plan your schedule here]. [LinkedIn] [Twitter] [Facebook] [Google+] [Email] Learn more about Aon Financial Institutions: [Aon Home Page] | [Aon Financial Institutions] [Thought Leadership] | [Media Room] Making mistakes is the privilege of the active -- of those who can correct their mistakes and put them right. Ingvar Kamprad, business magnate [LinkedIn] [Twitter] [Facebook] [Google+] [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 Aon Financial Institutions Jackie Geiger, Practice Leader +1.212.441.2339 [jacqueline.geiger@aon.com] [www.aon.com] [Linkedin] [Twitter] About Aon Aon plc (NYSE:AON) is a leading global provider of risk management, insurance brokerage and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative risk and people solutions. For further information on our capabilities and to learn how we empower results for clients, please visit: []. 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