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Global Financial Crisis Caused by Banks’ Lack of Understanding on Risk Management

1 Comment | Filed in Industry News

Banks collapse, others are bailed out, executives leave and the world economy suffers from a bad case of blues. Could all of this devastation be caused simply by a lack of knowledge in one critical, but misunderstood area? KPMG surveyed more than 500 senior managers in banking who admitted that a lack of discipline in [...]

Bad Debts Driving Down Banks, Potential Up for Debt Buyers

No Comments | Filed in Industry News

Banks are swimming in bad debt, with two of the giants, Bank of America and Citi, taking the biggest hit. But banks’ folly may create a boom in the collection and debt buying businesses, according to the industry publication Inside ARM. Consequently, prices for portfolios of delinquent accounts have plummeted. Even with the lower costs, [...]