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    0 Equifax CEO Richard Smith retires, becomes $18.5M richer... HOORAY, Happy Tuesday, Y'all!

    Today, Equifax announced that its CEO, Richard Smith, would retire, effective immediately. Because of the terms of his executive agreement, Smith is entitled to at least $18.48 million in compensaion

    0 Monday Morning Briefing: "I'd rather invest in a company selling nuclear technology to North Korea [than Equifax]"

    Each week iTod rounds up banking industry developments, top news, and highlights. Last week, the Equifax scandal continued to implode: We've got details about the first financial institution's lawsuit against Equifax; we share the CFPB's "Top 10 Ways to Protect Yourself in the Wake of Equifax"; we've got an update on what Equifax means for the newly finalized rule on arbitration agreements; and, much, much more (did you know Avril Lavigne is the most dangeours celebrity on the internet)?

    0 Plain English Guidance to the CFPB's Final Rule on Arbitration Agreements

    The Consumer Financial Protection Bureau ("CFPB") issued its final rule on arbitration agreements on the 10th of July 2017.  One week ago today, on Monday, the 18th of September, the CFPB released its Small Entity Compliance Guide, which will help you comply with the final arbitration rule. This guidance will help you understand the rule in plain English.

    0 Hurricane Season: Harvey Hit Texas, Irma Hit Florida, Equifax Hits the USA

    This post will cover the newest developments in the Equifax Scandal, which has set the financial industry ablaze, shaken consumers, and outraged lawmakers and regulators. 

    0 Equifax Scandal: New Developments & Tips to Protect You & Your Customers' Identities (Last Updated: Sept. 13 at 1:53AM ET)

    This post will discuss recent developments in the Equifax scandal, which broke on Thursday, the 8th of September 2017; it also provides tips to protect the identities and money of you personally, as well as your Institution's accountholders or members. 

    0 Instructions: Add a Credit Freeze to Your File

    We advise you to inform your accountholders and members about the merits of adding a credit freeze. And this goes for anyone, not just those impacted directly by this breach.

    URGENT: Equifax Data Breach Fall-Out: Steps to Protect Your Customers
    0 URGENT: Equifax Data Breach Fall-Out: Steps to Protect Your Customers

    On Thursday, Equifax announced that roughly 143 million United States citizens' personal data and credit histories could have been compromised due to a cyber hack that occurred IN JULY

    Regardless of Equifax's shoddy inability to promptly notify customers of potential identity theft exposure, if your Institution uses Equifax's credit reporting services, YOU can ACT quickly to help your accountholders and members determine if their personal information has been compromised. 

     

    Your Weekend Briefing: Hurricane Harvey Forces Texas Banks & CUs to Close Friday & Saturday
    0 Your Weekend Briefing: Hurricane Harvey Forces Texas Banks & CUs to Close Friday & Saturday

    iTod has rounded up some of the week's most interesting stories for your weekend digest, including:

    • Southeast Texas banks and credit unions began shuttering operations and ramping up emergency plans on Thursday in preparation for Hurricane Harvey
    • Whether the MLA credit card rules apply retroactively.

    • After 7 Months in Office, How's Trump Doing on Cybersecurity? (Video Analysis)

    • CFPB Issues Final HMDA Rule
    Your Weekend Briefing: Statute of Maggie Walker, First Black Woman Founder of Bank, Unveiled to Cheering Crowds
    0 Your Weekend Briefing: Statute of Maggie Walker, First Black Woman Founder of Bank, Unveiled to Cheering Crowds

    iTod has rounded up some of the week's most interesting stories for your weekend digest, including:

    • Don’t get burned by coming CDD rule: Exploring the enforcement implications of FinCEN’s new “fifth pillar”
    • Judge Robert Mariani announced last week that he found the Consumer Financial Protection Bureau was within its authority to bring a case against Navient and that there is no unconstitutionality with how the Bureau behaved in bringing the case.
    • Breaking Down the TRID Fix: It's the Same with Affiliates, Only Different

     

     

    Wall Street & Gender Equality, TRID Updates, CFPB's Arbitration Rule: Your Weekend Briefing
    1 Wall Street & Gender Equality, TRID Updates, CFPB's Arbitration Rule: Your Weekend Briefing

    What happened in the U.S. banking industry last week? Highlights include:

    • The CFPB finalized updates to the TILA-RESPA Integrated Disclosure Rule (TRID)
    • JP Morgan's CEO opined that Wall Street outpaces Silicon Valley in terms of gender equality (... it's stil not much to brag about)
    • Senator Warren asked CEOs to wieigh in on CFPB's forced arbitration rule