FSR In Focus

Insight from industry leaders, bringing color and scope to topics like cybersecurity, housing finance, regulatory tailoring, tax reform, economic growth, FinTech innovation, and more.

2016 Will Bring New Cyber Protections If Financial Services Industry Bands Together

January 20, 2016

The financial services industry is making strong headway in the fight against cyber crime: more than 2,500 banks have registered a new .BANK domain name, a cybersecurity tool designed to provide a trusted, verified and more secure online experience for their customers.
The Cybersecurity Information Sharing Act (CISA) was passed by Congress and signed into law after years of work advocating before Congress, the administration and policymakers. These moves are and will be critically needed as hundreds of millions of Americans have been exposed in recent breaches, falling victim to cyber crime.

You have a 100% chance of winning this lottery

January 14, 2016

Chances are, you woke up this morning to learn you weren’t the winner of the Powerball’s $1.5 billion lottery. Life will go on as usual (unless you emptied your savings on Powerball tickets…then not so much).

Will 2016 Be a Waste for Washington? Far From It.

January 13, 2016

People in Washington are already suggesting that 2016 will be a “lost” year, marked by early political conventions, long Congressional recesses, a gridlocked Congress, and little achieved.

Nothing could be further from the truth. In fact, 2016 is shaping up to be a very consequential year.

We will elect a new President, and while control of the Senate is up in the air, the House is likely to stay Republican. The new President and Congress will likely have “100 Day” agendas, passing bills that will be the basis for discussion during the rest of the year. Those bills debated in early 2017 will build off of what happens in 2016.

Wonky Talkin’: A Whole Lotta Nothing for Washington in 2016?

January 7, 2016

“Wonky Talk” is FSR’s new blog series that boils down political and regulatory issues from Washington into plain English for the average American. This week, VP of Government Affairs for Investment Management Jill Hoffman explains why Congress appears dysfunctional and breaks down a damaging regulation that could impact Americans’ ability to save for retirement.

10 Regulatory Issues the Financial Industry is Watching in 2016

January 5, 2016

by FSR’s Robert Hatch: At the end of November, federal regulators submitted their anticipated rulemaking agendas for the upcoming year. The information, collected by the Office of Information and Regulatory Affairs, shows the financial industry should expect another busy year on the regulatory front. Financial sector regulators have set an aggressive schedule for adopting new regulations in a wide variety of areas. Below are 10 regulatory developments FSR will be watching closely in 2016.

The Federal Reserve Shouldn’t Make Banks Cram for the Annual Stress Test

December 16, 2015

It’s December and that means students across the country are busily preparing for final exams in advance of their winter break. I remember many long nights of cramming for tests and hustling to complete final research papers—often because I procrastinated putting in the necessary time until the very last second.

Tests are an important way for students to show progress in grasping the skills they have been taught by their teachers and professors.

Who Puts an IRA on their Holiday Wish List?

December 10, 2015

I recently wrote about taking some time to remember yourself this holiday season. I noted that the average American spends $765 on holiday gifts and how by taking just a small amount of that to put into a retirement account — say $50 a month — can grow to thousands of dollars if you start early enough.

History Lessons: The Data Security Legislative Fight Has Changed

December 9, 2015


That’s the number of days it has been since the House Financial Services Committee last passed pro-consumer data security legislation that would help stop data breaches. Today, the Committee passed H.R. 2205, the Data Security Act, authored by Reps. Neugebauer (R-TX) and Carney (D-DE), by an overwhelming vote of 46-9.

Let’s Escape From This PIN Sideshow for Better Data Security

December 9, 2015

Protecting consumers’ data with strong security requirements continues to be a key focus on Capitol Hill, with an important Committee markup happening this week on related legislation.

The retailer trade associations continue to try and make a mess out of this very important issue. In one recent instance, they even suggested that protecting consumers from data breaches is optional, even though financial institutions have been required to uphold very high standards of protection for at least 15 years. They’re also suggesting that the law’s explicit data breach notification program that federal regulators have used to protect customers are merely discretionary.

The International Impact of .BANK: 11 Percent of Global Registrants

December 3, 2015

U.S.-based banks quickly leapt to acquire .BANK domain names when they became available in May 2015. They did so for a variety of reasons: increased security, mandatory verification, cohesive branding and to provide a trusted online experience for their customers.