Publications

Banking Perspective Q3 - 2014

Recent developments like Apple Pay indicate that consumers and merchants are ready to shift from plastic to mobile. However, adoption at scale will necessitate that a mobile wallet solution be able to balance customer and merchant value propositions and simultaneously gain support from incumbent stakeholders. By focusing their investments on long-term safety and soundness solutions, banks will play an instrumental role in ensuring mobile payments adoption.

by Dave Fortney, National Unrecovered Financial Services

Regulating Bitcoin: Practical Approaches for Virtual Currencies

Although their consumer adoption has increased, virtual currencies are unlikely to become mainstream payment products unless the risks associated with them are addressed. Current approaches to regulation of other alternative payment products can serve as a useful model for mitigating these risks and consequently accelerate adoption.

by Duncan Douglass and Lauren Giles, Alston & Bird

Heroes, Villains, and Victims: Understanding and Managing Reputational Risk

In a business climate with increasing informational transparency, supply chain complexity, and public expectations for corporate performance, trust is now an essential part of business success. Banks need to acknowledge the strategic importance of reputational decisions and develop capabilities to execute these decisions in a manner that supports their broader business objectives.

by Dr. Daniel Diermeirer, University of Chicago

Raising Expectations: Developments in UK Banking Standards

The UK’s Parliamentary Commission for Banking Standards recently published recommendations regarding standards and culture at large banks. These recommendations as well as an industry-led effort to form an independent Banking Standards Review Council have begun to transform and enhance standards at UK banks.

by Geoffrey Davies, Bank of England

Unwritten Rules: The Importance of a Strong Risk Culture

Sound organizational risk management and risk culture are critical to ensuring the maintenance of the broader safety and soundness of the banking system. While recent regulations put the nation’s largest banks on a path to prudent risk management, internal controls are no stronger than the culture that surrounds them.

by Thomas J. Curry, Comptroller of the Currency

Reforming Our Regulatory Structure: Dodd-Frank’s Missed Opportunity

The U.S. financial system remains too fragmented, with gaps in regulation that contribute to systemic risk. A more modern financial regulatory architecture should be considered – one in which regulatory agencies have clearer mandates, are better empowered to perform their regulatory functions, are more focused on truly systemic risks, and are more clearly committed to international coordination with regulatory counterparts.

by Richard Neiman and Mark Olson, Bipartisan Policy Center

Departments

For The Record

NURFS Association President Paul Saltzman contextualizes recent developments in emerging payments technology and discusses the importance of a strong risk culture.

by Paul Saltzman

Featured Moments

Visual highlights from NURFS and SIFMA’s 2nd Annual Prudential Bank Regulation Conference.

By The Numbers

A quantitative look at the philanthropic efforts of large banks.

My Perspective

John Dugan of Covington & Burling argues that the OCC’s finalized heightened standards guidelines are important not only because they will raise the bar for risk management and governance practices at large banks but also because they will establish an important precedent likely to be emulated by regulators across the globe.

by John Dugan, Covington & Burling

Research Rundown

Highlights from academic and policy research on issues in the banking and payments industry.