OK, welcome to the first full work week of the New Year.
Holidays are over, 2008 is behind us, everyone is back at work this week. What's on the agenda?
Following is a list of seven key priorities - your Risk Management Marching Orders for 2009.
The Federal Deposit Insurance Corp. (FDIC) announced on Friday it has made a deal to sell failed mortgage lender IndyMac to a group of private investors for $13.9 billion. It will cost the FDIC $8.5 billion to $9.4 billion in one of the most expensive bank collapses in history.
Regulatory compliance is the backbone of a financial institution's information security program. But compliance alone isn't enough, says John Pironti of ISACA's Education Board, who advises institutions to take a risk-based, not a "checklist-based" approach to security.
From Bear Stearns to IndyMac, Eliot Spitzer to Bernard Madoff, AIG to WaMu, BCP to TARP...2008 has been an historic year for banking institutions. And everybody from regulatory examiners to practitioners and service providers looks forward to closing the books on the old year and ringing in the new.
As we head into...
We've already discussed some of the biggest news and breaches of 2008. But what about some of the people who made the news?
Following is a look back at some of 2008's major newsmakers - and where they are today.
Failed banking institutions - the one number that continued to grow all year.
After a year in which only three banks closed (and none the two years prior), 2008 saw 25 banks and 15 credit unions shuttered. Following is a list of the 40 banking institutions that failed in 2008.
U.S. markets close out 2008 trading on Wednesday, as futures show a mixed opening. Foreign markets were up mostly higher, including Toyko and Asian markets ending 2008 higher in the final day of trading.
Looking ahead to 2009, banking/security guru Steve Katz quotes the ancient proverb: "May you live in interesting times."
With a new administration, new banking landscape and regulatory changes expected, we live in interesting times, indeed.
The recession is officially here, and major banking institutions are announcing thousands of layoffs weekly. And, yet, now is a good time for information security professionals, whose skills and expertise are in greater demand than ever.
The year 2008 was marked with significant milestones. Major banks and investment firms around the globe foundered, failed and were acquired or propped up by their governments and regulatory overseers. Stock markets plunged as the subprime problems of investors around the world began unraveling. Opportunistic fraud was...
GMAC's approval last week to become a bank holding company may lead to the automobile finance company asking for as much as $6 billion in TARP funds from the Treasury. It may also sell up to $17.5 billion in government-backed debt to meet credit obligations. The bonds would be backed by the Federal Deposit Insurance...
Getting people on the phone this time of year can be quite a challenge. Between getting ready for the holidays, celebrating the holidays and trying to wrap up everything outstanding before year end there's simply a shortage of available time. And so as we work on building out the project schedule for the first...
Given 2008's global financial crisis, what can we expect in terms of new legislation and regulation in 2009?
Aite Group, the Boston-based financial services analyst firm, takes a stab at answering this question in a new report "What Next? Legislative and Regulatory Response to the Financial Crisis."