GLG News by Core Bank Processing Experts

Yes, it is a mess - I have seen about 3 or 4 cycles such as these over the last 30-years.  We have all seen this mess coming years ago. In 2004, a vast amount of mortgage originators were doing some very creative things to sell mortgages. HEOPA and high cost was in effect while these negative...

a) markets self correct b) yes all sorts of pain occurs c) the cycle continues... lows become floors and investors flood in

For many decades, the world's refined petrolium gasoline consumer  have not had such a plentiful and affordable stream of energy. Finally, the US refined petrolium gasoline consumer has experienced a history of $.27 a gallon in the sixties to $4.50 a gallon today. Price, will eventually CHANGE...

Discover's acquisition of the Diners Club global network could greatly improve Discover's merchant acceptance.  However, there are major technical and operational hurdles involved in integrating the two networks.

From the data available for the year ended 31st March 2008, HDFC Bank has grown substantially when compared to banking industry as a whole both in credit, deposits and earnings. Net profit increased by 39.1%; 85% Dividend as against 70% in the previous year. CAR maintained at 13.6%. By looking at the credit...

The news that Treasury Secretary Paulson and Fed Chairman Bernanke are trying to reassure the broader markets that Fannie Mae (FNM) and Freddie Mac (FRE) will not be allowed to fail has not produced the expected calming effect on the markets. Shares of both firms have plunged into single digits. Who...

Credit Card delinquency and chargeoff rates are still tracking below historic highs.  There are signs that 2007 account vintages, especially those at or near subprime scores, may be among the worst performing vintages ever.  Card issuer guidance on delinquencies, writeoffs and loan loss provisions...

While MasterCard arguably will pay American Express too much, the settlement removes a troubling overhang.   It is time for MasterCard and Visa Inc. to focus their energies on fending off a potentially far more damaging threat: the “Credit Card Fair Fee Act of 2008.”

Angst about the consumer credit environment and risk associated with GE Consumer Finance’s near-prime retail credit card portfolio, not surprisingly, have given a number of large US card issuers who otherwise should have been keen to bid, cause for pause. Nonetheless, for the right buyer – most likely...

Conference take-aways: (1) All payment systems – paper checks, truncated checks, pin and signature debit cards and credit cards and ACH are subject to fraud. (2)  Fraud prevention systems need to take a holistic enterprise-wide rather than a point solution approach.      ...