Op risk data: Mexico bank hack fuels global payment network fears
Also: roundup of monthly loss data sees Wells Fargo in top slot for second month running. Data by ORX News
Following on from its $1 billion loss in April, US bank Wells Fargo topped the losses again in May. It has agreed to pay $97.3 million to settle a class action lawsuit filed by employees who accused the bank of denying them rest breaks.
The class, which consisted of 4,481 mortgage executives, claimed that Wells Fargo regularly required them to carry out work duties at lunch times, such as
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Comment
The ECB’s geopolitical stress test needs a price
Only a market can say how much it should cost to insure against losses from a geopolitical risk event, and none exists, argues academic
Podcast: Alexander Barzykin on modelling FX market-making
HSBC quant discusses adverse selection, price reading and internal liquidity management
Op risk data: Japanese restaurant payments firm swallows $700m loss
Also: Bank of Baroda fraud filing, Wells’ Ponzi woes, and Swedbank’s Panama Papers payout. Data by ORX News
Private credit risk doesn’t have to be systemic to be serious
Risk management leader outlines three cracks in the consensus that risk in the private credit sector is contained
Perpetual futures: when expiry disappears, governance is key
Perps solve the futures roll problem, but run market-structure and regulatory risks, warns Vishal Gupta
Op risk data: Pentwater pays up for taking Avis shares for a spin
Also: Romania’s Robor cop gets tough on benchmark rigging; Wamco’s cherry-picking squashed. Data by ORX News
EUR vs USD stablecoins is the wrong debate
Market structure and regulatory cohesion is at the centre of the stablecoin liquidity evolution, says Flow Traders’ digital assets head
AI compute has a governance problem
As exchanges move to launch compute futures, Vishal Gupta argues that the real test is not product innovation, but whether governance can keep pace