United States federal banking legislation

First Financial Bank Earns Top Rating of "Outstanding" for Performance under Community Reinvestment Act

Tuesday, June 15, 2021 - 1:00pm

CINCINNATI, June 15, 2021 /PRNewswire/ --First Financial Bank (Nasdaq: FFBC) has earned the highest overall rating of Outstanding from the Federal Reserve Board for its performance under the Community Reinvestment Act (CRA) to meet the credit needs of the people and businesses in its communities.

Key Points: 
  • CINCINNATI, June 15, 2021 /PRNewswire/ --First Financial Bank (Nasdaq: FFBC) has earned the highest overall rating of Outstanding from the Federal Reserve Board for its performance under the Community Reinvestment Act (CRA) to meet the credit needs of the people and businesses in its communities.
  • "We are extremely proud to have earned this Outstanding rating for our CRA performance," said Archie Brown, president and CEO of First Financial Bank.
  • The Outstanding rating is achieved by only a small number of banks.
  • First Financial has emphasized the delivery of financial education programs to help individuals achieve financial stability and reach personal financial goals, including a new financial literacy collaboration with the National Underground Railroad Freedom Center.

Hims & Hers To Expand UK Footprint, Acquire London-Based Honest Health

Monday, June 14, 2021 - 9:33pm

Hims & Hers Health, Inc., the multi-specialty telehealth platform focused on providing modern personalized health and wellness experiences to all consumers, today announced plans to expand their UK footprint and acquire London-based vertical health platform, Honest Health.

Key Points: 
  • Hims & Hers Health, Inc., the multi-specialty telehealth platform focused on providing modern personalized health and wellness experiences to all consumers, today announced plans to expand their UK footprint and acquire London-based vertical health platform, Honest Health.
  • We are thrilled to have the Honest Health team join the Hims & Hers family.
  • Honest Health, founded by Sam Gluck and Pavlo Maherovsky, launched in November 2018 with Freshman , its next generation hair loss virtual clinic for men.
  • Since launching Honest Health in the UK two and a half years ago, we have been dedicated to demolishing the obstacles standing between people and better health, said Gluck.

Pancon Announces Debt Settlement and Option Grant

Thursday, June 10, 2021 - 9:30pm

The Debt Settlement remains subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.

Key Points: 
  • The Debt Settlement remains subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.
  • All securities issued in connection with the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
  • A material change report will be filed not less than 21 days before the closing date of the Debt Settlement.
  • This shorter period was reasonable and necessary in the circumstances, as it was necessary for the Company to complete the Debt Settlement to immediately improve the financial position of the Company.

The TPPPA Files Amicus Brief in Hunstein Case Supporting Rehearing

Friday, June 4, 2021 - 5:00am

The Eleventh Circuit held that the plaintiff stated a claim under the FDCPA, stating that the debt collectors's use of this third-party service provider violated the consumer's privacy under the FDCPA.

Key Points: 
  • The Eleventh Circuit held that the plaintiff stated a claim under the FDCPA, stating that the debt collectors's use of this third-party service provider violated the consumer's privacy under the FDCPA.
  • "The TPPPA membership feels that the court did not fully grasp the far-reaching and disastrous implications of this ruling," said Marsha Jones, TPPPA President.
  • "Third-party service providers are critical to the entire financial services industry generally, and electronic payment processing specifically."
  • A decision on whether the court will rehear this case is expected within 90 days.

FTC Staff Provides 2020 Annual Financial Acts Enforcement Report to the CFPB

Tuesday, June 1, 2021 - 10:03pm

The staff of the Federal Trade Commission has provided its 2020 Annual Financial Acts Enforcement Report to the Consumer Financial Protection Bureau on its enforcement and related activities regarding the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), and Electronic Fund Transfer Act (EFTA).

Key Points: 
  • The staff of the Federal Trade Commission has provided its 2020 Annual Financial Acts Enforcement Report to the Consumer Financial Protection Bureau on its enforcement and related activities regarding the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), and Electronic Fund Transfer Act (EFTA).
  • The report highlights the agencys Military Task Force, which comprises a cross-section of FTC representatives and focuses on various initiatives to assist military consumers.
  • The report further outlines the FTCs consumer and business education efforts on truth in lending and electronic fund transfer issues.
  • The FTC also has provided a copy of the report to the Federal Reserve Board.

FTC Staff Provides 2020 Annual Financial Acts Enforcement Report to the CFPB

Tuesday, June 1, 2021 - 10:03pm

The staff of the Federal Trade Commission has provided its 2020 Annual Financial Acts Enforcement Report to the Consumer Financial Protection Bureau on its enforcement and related activities regarding the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), and Electronic Fund Transfer Act (EFTA).

Key Points: 
  • The staff of the Federal Trade Commission has provided its 2020 Annual Financial Acts Enforcement Report to the Consumer Financial Protection Bureau on its enforcement and related activities regarding the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), and Electronic Fund Transfer Act (EFTA).
  • The report highlights the agencys Military Task Force, which comprises a cross-section of FTC representatives and focuses on various initiatives to assist military consumers.
  • The report further outlines the FTCs consumer and business education efforts on truth in lending and electronic fund transfer issues.
  • The FTC also has provided a copy of the report to the Federal Reserve Board.

Amount -- One of the Fastest Growing FinTech Players Worldwide -- Reaches $1B Unicorn Status

Tuesday, May 18, 2021 - 1:00pm

Having generated $1B in value in only 16 months, Amountjoins three other Chicago companies who have also reached the $1B+ valuation mark in 2021.

Key Points: 
  • Having generated $1B in value in only 16 months, Amountjoins three other Chicago companies who have also reached the $1B+ valuation mark in 2021.
  • "We\'re honored to continue to back Amount and the important work they\'re doing to help consumers get access to transparent, seamless and easy-to-understand payment options.
  • "\nAmount delivers the technology that financial institutions need to create and enhance the digital consumer experience.
  • Amount clients include financial institutions collectively managing nearly $2T in US assets and servicing more than 50 million U.S. customers.

Westminster Resources Ltd. Closes $2.75 Million Oversubscribed Financing

Wednesday, May 12, 2021 - 2:00pm

The Company is in the process of completing on its due diligence review of the Mostazal Copper Project in Chile and we look forward to a busy and productive field season.

Key Points: 
  • The Company is in the process of completing on its due diligence review of the Mostazal Copper Project in Chile and we look forward to a busy and productive field season.
  • "\nThe Company paid a total of $130,533 in finder\'s fees.
  • Shares and warrants issued on closing will be subject to the customary trading hold period expiring 4 months plus one day from the date of issuance.\nCertain insiders of the Company participated in the financing, including Latin Resources Ltd. and as such, their participation is a related-party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, and TSX Venture Exchange Policy 5.9 (which incorporates by reference MI 61-101).
  • The financing is exempt from valuation requirements and minority shareholder approval requirements pursuant to subsections 5.5(b) and 5.7(b) of MI 61-101.\n'

AFC Statement on Senate CRA of OCC's True Lender Rule

Wednesday, May 12, 2021 - 4:16am

Financial inclusion requires a stable regulatory regime.

Key Points: 
  • Financial inclusion requires a stable regulatory regime.
  • In that vein, the AFC advocates that the OCC\'s True Lender rule remain in place, but be improved and strengthened by the next Comptroller of the Currency, whenever she or he is appointed by the President and confirmed by the Senate.\n"We urge the House of Representatives to work with advocates, civil rights organizations, and trade groups in order to allow the next Comptroller to amend the OCC\'s rule.
  • We are fully committed to supporting a rule that creates a competitive marketplace that protects consumers and empowers them to live better financial lives.
  • "\n'

Certain DWS Closed-End Funds Declare Monthly Distributions

Friday, May 7, 2021 - 10:00pm

Credit risk refers to the ability of an issuer to make timely payments of principal and interest.

Key Points: 
  • Credit risk refers to the ability of an issuer to make timely payments of principal and interest.
  • Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility.
  • Although the fund seeks income that is exempt from federal income taxes, a portion of the fund\xe2\x80\x99s distributions may be subject to federal, state and local taxes, including the alternative minimum tax.\nClosed-end funds, unlike open-end funds, are not continuously offered.
  • There is a one-time public offering and once issued, shares of closed-end funds are bought and sold in the open market through a stock exchange.