United States federal banking legislation

Citizens Bank Achieves ‘Outstanding’ Community Reinvestment Act Rating

Retrieved on: 
Tuesday, May 12, 2020
Banking, Professional services, Finance, Mortgage industry of the United States, United States federal banking legislation, United States housing bubble, Urban politics in the United States, Royal Bank of Scotland Group, Community Reinvestment Act, Citizens Financial Group, Office of the Comptroller of the Currency, CRA, Economy of the United States, Cities in the United States, United States

Citizens Financial Group (NYSE: CFG) announced today that its Citizens Bank, N.A.

Key Points: 
  • Citizens Financial Group (NYSE: CFG) announced today that its Citizens Bank, N.A.
  • subsidiary has received the highest possible rating from the Office of the Comptroller of the Currency (OCC) for its most recent performance under the Community Reinvestment Act (CRA).
  • Significant community achievements during the exam period which led to Citizens Outstanding rating include:
    Citizens extended nearly $2.1 billion to affordable housing and economic revitalization developments in local communities in the form of debt and equity.
  • For more information about Citizens community efforts and to view the banks most recent Corporate Responsibility report, visit here .

Linus Partners with Passbase to Power Identity Verification for Its New Crypto-Powered Cash Deposit Account

Retrieved on: 
Wednesday, May 6, 2020
Economy, Finance, Money, Annual percentage yield, United States federal banking legislation, Äpy, Yield, Deposit account, Deposit

Starting from today, Passbase will enable Linus to quickly and easily onboard new users who're looking to get seamless access to digital asset credit markets.

Key Points: 
  • Starting from today, Passbase will enable Linus to quickly and easily onboard new users who're looking to get seamless access to digital asset credit markets.
  • Linus is developing a digital-first cash deposit account that delivers inflation-beating yields within a friendly, easy-to-use platform.
  • It is the first FinTech company connecting everyday investors to financial services via a blockchain protocol, launching with a high yield cash account offering 4.0% APY on deposits.
  • Passbase powers identity verification across more than 6000 documents from over 190 countries.

Axcella to Report Top-Line Data from AXA1125-003 in Adult Subjects with NAFLD on May 6, 2020

Retrieved on: 
Tuesday, May 5, 2020
Biotechnology, Pharmaceutical, Health, Clinical trials, Economy, Finance, Money, Credit, United States federal banking legislation, Personal finance, Fair Credit Reporting Act, Federal Trade Commission, Credit history, Credit bureau, Financial privacy laws in the United States, Axcella’s Clinical Studies, Axcella

To access the call via telephone, please dial 1-866-652-5200 (U.S. toll free) or 1-412-317-6060 (international) five minutes prior to the start time.

Key Points: 
  • To access the call via telephone, please dial 1-866-652-5200 (U.S. toll free) or 1-412-317-6060 (international) five minutes prior to the start time.
  • For those unable to listen in live, a webcast archive will be available on the companys website for 30 days following the call.
  • They are not designed or intended to evaluate a product candidates ability to diagnose, cure, mitigate, treat or prevent a disease.
  • Axcella uses its website, www.axcellahealth.com , as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.

FTC Updates Congress on Efforts to Educate Consumers about Their FCRA Rights

Retrieved on: 
Tuesday, May 5, 2020
Finance, Economy, Money, United States federal banking legislation, Credit, Fair Credit Reporting Act, Federal Trade Commission, Tenant screening

The Federal Trade Commission has submitted a report to Congress updating lawmakers on the agencys efforts to educate consumers about their rights to dispute and correct errors in their credit reports.

Key Points: 
  • The Federal Trade Commission has submitted a report to Congress updating lawmakers on the agencys efforts to educate consumers about their rights to dispute and correct errors in their credit reports.
  • Lawmakers requested the reportas part of the fiscal year 2020 spending bill that funds the FTC and other federal agencies.
  • Under the Fair Credit Reporting Act (FCRA), consumer reporting agencies must have reasonable procedures to ensure the accuracy of consumers reports and give consumers the ability to dispute and correct errors.
  • Like the FTC on Facebook, follow us on Twitter, read our blogs, and subscribe to press releases for the latest FTC news and resources.

FTC Updates Congress on Efforts to Educate Consumers about Their FCRA Rights

Retrieved on: 
Tuesday, May 5, 2020
Finance, Economy, Money, United States federal banking legislation, Credit, Fair Credit Reporting Act, Federal Trade Commission, Tenant screening

The Federal Trade Commission has submitted a report to Congress updating lawmakers on the agencys efforts to educate consumers about their rights to dispute and correct errors in their credit reports.

Key Points: 
  • The Federal Trade Commission has submitted a report to Congress updating lawmakers on the agencys efforts to educate consumers about their rights to dispute and correct errors in their credit reports.
  • Lawmakers requested the reportas part of the fiscal year 2020 spending bill that funds the FTC and other federal agencies.
  • Under the Fair Credit Reporting Act (FCRA), consumer reporting agencies must have reasonable procedures to ensure the accuracy of consumers reports and give consumers the ability to dispute and correct errors.
  • Like the FTC on Facebook, follow us on Twitter, read our blogs, and subscribe to press releases for the latest FTC news and resources.

Wells Fargo Receives ‘Outstanding’ Community Reinvestment Act Rating

Retrieved on: 
Monday, May 4, 2020
Finance, Banking, Consumer, Professional services, Hispanic, Financial District, San Francisco, Wells Fargo, United States federal banking legislation, Community Reinvestment Act, Fargo, Economy of the United States, Financial services, Economy of California

Wells Fargo & Company (NYSE: WFC) today announced that its subsidiary, Wells Fargo Bank, N.A., has received a rating of Outstanding in its most recent Community Reinvestment Act (CRA) Performance Evaluation, which covers the years 2012 to 2018.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) today announced that its subsidiary, Wells Fargo Bank, N.A., has received a rating of Outstanding in its most recent Community Reinvestment Act (CRA) Performance Evaluation, which covers the years 2012 to 2018.
  • Wells Fargo Community Lending and Investment provides financial solutions to support the community development needs that are not met through traditional financing methods.
  • In 2017, Wells Fargo received an exam rating of Outstanding, but its final rating was downgraded to Needs to Improve due to past legal issues.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .

K12 Inc. Reports Third Quarter Fiscal 2020 with Revenues of $257.2 Million

Retrieved on: 
Monday, April 27, 2020
Software, Internet, Teens, Family, Technology, Primary, Secondary, Consumer, Education, Prevention, United States federal banking legislation, 106th United States Congress, Gramm–Leach–Bliley Act, Separation of investment and retail banking, Computer security, Security, Gramm, Information security, Safety
Key Points: 

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By:
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<span class="field field-name-field-author field-type-text field-label-inline inline field-wrapper">
Lesley Fair </span>
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  &lt;div class=&quot;field field-name-body field-type-text-with-summary field-label-hidden field-wrapper&quot;&gt;
  &lt;p&gt;As part of its regulatory review, the FTC announced earlier this year &lt;a href=&quot;https://www.ftc.gov/news-events/events-calendar/information-security-financial-institutions-ftc-workshop-examine&quot;&gt;Information Security and Financial Institutions: An FTC Workshop to Examine the Safeguards Rule&lt;/a&gt;. If the Safeguards Rule is of interest to you or your clients, you’ll want to know about three new developments.&lt;/p&gt;

<p><em><strong>First,</strong></em> the FTC has postponed the workshop and <a href="https://www.ftc.gov/news-events/press-releases/2020/04/ftc-safeguards-wo... it for July 13, 2020</a>. If you’rd like to participate as a panelist on the new date, email us at <a href="mailto:[email protected]">safeguardsworkshop2020@ftc.gov</a> by May 14th.</p>

<p><strong><em>Second, </em></strong>it will be a virtual workshop, taking place online only. You can watch the webcast live on July 13th.</p>

<p><em><strong>Third,</strong></em> the workshop will continue to focus on some of the issues raised in response the FTC’s proposed amendment to the Gramm-Leach-Bliley <a href="https://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proce... Rule</a>, which requires financial institutions to develop, implement, and maintain a comprehensive information security program. But we’ve extended until August 12, 2020, the deadline for you to file comments on the topics that will be discussed at the workshop.</p>

<p>As always, if you intend to volunteer as a panelist or file a comment and you’re affiliated with an entity that has provided funding for research, analysis, or commentary on relevant topics, please identify that source of funding in your submission.<br />  <br />  </p>
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ComplianceTech, McLean, VA, today announces the refresh of the Home Mortgage Disclosure Act (HMDA) data in LendingPatterns™ to include the 2019 data

Retrieved on: 
Thursday, April 23, 2020
Mortgage industry of the United States, Economy, Finance, Money, Loans, United States federal banking legislation, Home Mortgage Disclosure Act, Urban politics in the United States, Underwriting, Redlining, Mortgage loan, Consumer Financial Protection Bureau

MCLEAN, Va., April 23, 2020 /PRNewswire-PRWeb/ -- ComplianceTech, McLean, VA, today announces the refresh of the Home Mortgage Disclosure Act (HMDA) data in LendingPatterns to include the 2019 data as published by the CFPB on April 1, 2020.

Key Points: 
  • MCLEAN, Va., April 23, 2020 /PRNewswire-PRWeb/ -- ComplianceTech, McLean, VA, today announces the refresh of the Home Mortgage Disclosure Act (HMDA) data in LendingPatterns to include the 2019 data as published by the CFPB on April 1, 2020.
  • Using the 2019 HMDA data from every lender in the U.S., LendingPatterns can pinpoint fair lending issues related to underwriting, pricing, steering, and redlining.
  • Geographical analysis options include, the entire U.S., metro areas, state, county, city, congressional districts, and lender's CRA assessment areas.
  • There were 5,502 reporters who submitted data for 17.5 million records (including purchased loans) in 2019, a drop of 3%.

FTC Safeguards Workshop Postponed Until July 13, 2020, Will be Held Online

Retrieved on: 
Tuesday, April 21, 2020
106th United States Congress, Gramm–Leach–Bliley Act, Separation of investment and retail banking, United States federal banking legislation, Corporate crime, Gramm, Federal Trade Commission, Economy, Decades, Units of time

The Federal Trade Commission announced that it has postponed its workshop seeking input on proposed changes to the Safeguards Rule under the Gramm-Leach-Bliley Act until July 13, 2020 and that the event will be held online.

Key Points: 
  • The Federal Trade Commission announced that it has postponed its workshop seeking input on proposed changes to the Safeguards Rule under the Gramm-Leach-Bliley Act until July 13, 2020 and that the event will be held online.
  • In 2019, the FTC sought comments on the proposed amendments to the Safeguards Rule.
  • The FTC has extended the deadline to submit a comment on the topics that will be examined at the workshop until August 12, 2020.
  • Those interested in participating as a panelist at the workshop can email the FTC at [email protected] by May 14, 2020.

FTC Safeguards Workshop Postponed Until July 13, 2020, Will be Held Online

Retrieved on: 
Tuesday, April 21, 2020
106th United States Congress, Gramm–Leach–Bliley Act, Separation of investment and retail banking, United States federal banking legislation, Corporate crime, Gramm, Federal Trade Commission, Economy, Decades, Units of time

The Federal Trade Commission announced that it has postponed its workshop seeking input on proposed changes to the Safeguards Rule under the Gramm-Leach-Bliley Act until July 13, 2020 and that the event will be held online.

Key Points: 
  • The Federal Trade Commission announced that it has postponed its workshop seeking input on proposed changes to the Safeguards Rule under the Gramm-Leach-Bliley Act until July 13, 2020 and that the event will be held online.
  • In 2019, the FTC sought comments on the proposed amendments to the Safeguards Rule.
  • The FTC has extended the deadline to submit a comment on the topics that will be examined at the workshop until August 12, 2020.
  • Those interested in participating as a panelist at the workshop can email the FTC at [email protected] by May 14, 2020.