United States federal banking legislation

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

Retrieved on: 
Tuesday, June 1, 2021
Consumer protection law, United States federal banking legislation, Consumer protection, Corporate crime, Federal Trade Commission, Truth in Lending Act, Tila, Business law

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

Retrieved on: 
Tuesday, May 18, 2021
United States federal banking legislation

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

Retrieved on: 
Wednesday, May 12, 2021
United States federal banking legislation, Valuation, Truth in Lending Act, Economy, Academic disciplines

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

Retrieved on: 
Wednesday, May 12, 2021
Office of the Comptroller of the Currency, United States federal banking legislation, Government, Separation of investment and retail banking, Financial services

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

Retrieved on: 
Friday, May 7, 2021
Banking, Other Professional Services, Professional services, Finance, Debt, Leverage, Finance, Great Recession in the United States, United States federal banking legislation, Economy, Hedge fund

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.

NCLA Cries Foul on CFPB Final Rule that Doubles Down on Unlawful Eviction Moratorium Policy

Retrieved on: 
Tuesday, May 4, 2021
United States federal banking legislation, Corporate taxation in the United States, Debt collection, Consumer Financial Protection Bureau, Corporate crime, Limited liability company, Fair Debt Collection Practices Act, Schoeffler, Economy, Articles, Financial services

NCLA represents The Property Management Connection LLC, attorney Gordon Schoeffler, and the National Association of Residential Property Managers.

Key Points: 
  • NCLA represents The Property Management Connection LLC, attorney Gordon Schoeffler, and the National Association of Residential Property Managers.
  • The CFPB rule is an unlawful agency action in violation of the Administrative Procedure Act (APA) because it requires disclosures that are not required under the Fair Debt Collection Practices Act.
  • Two days later, the District Court for the Western District of Tennessee likewise held in Tiger Lily, LLC, et al.
  • that the Halt Order was beyond the scope of CDC\xe2\x80\x99s power and unenforceable in the Western District of Tennessee.

Cinemark to Participate in May Virtual Investor Conferences

Retrieved on: 
Monday, May 3, 2021
Film & Motion Pictures, Entertainment, Corporate crime, Finance, Economy, Money, United States federal banking legislation, Debt collection, Fair Debt Collection Practices Act, Federal Trade Commission, Consumer Financial Protection Bureau, Eviction

b'Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today announced participation at the following virtual institutional investor conferences:\nHeadquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world.

Key Points: 
  • b'Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today announced participation at the following virtual institutional investor conferences:\nHeadquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world.
  • Cinemark\xe2\x80\x99s circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 531 theatres with 5,958 screens in 41 states domestically and 15 countries throughout South and Central America.
  • 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience.
  • For more information go to https://ir.cinemark.com/ .\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210503005011/en/\n'

Badger Meter Declares Regular Quarterly Dividend

Retrieved on: 
Friday, April 30, 2021
Engineering, Other Natural Resources, Other Energy, Utilities, Manufacturing, Natural Resources, Energy, Finance, Money, Vivint, Economy, United States federal banking legislation, Federal Trade Commission, Fair Credit Reporting Act, Identity theft, Debt buyer, Debt collection

b'The Badger Meter, Inc. (NYSE:BMI) Board of Directors today declared a regular quarterly cash dividend of eighteen cents ($0.18) per share to shareholders of record on May 28, 2021, payable June 11, 2021.\nWith more than a century of water technology innovation, Badger Meter is a global provider of industry leading water solutions encompassing flow measurement, quality and other system parameters.

Key Points: 
  • b'The Badger Meter, Inc. (NYSE:BMI) Board of Directors today declared a regular quarterly cash dividend of eighteen cents ($0.18) per share to shareholders of record on May 28, 2021, payable June 11, 2021.\nWith more than a century of water technology innovation, Badger Meter is a global provider of industry leading water solutions encompassing flow measurement, quality and other system parameters.
  • These offerings provide our customers with the data and analytics essential to optimize their operations and contribute to the sustainable use and protection of the world\xe2\x80\x99s most precious resource.
  • For more information, visit badgermeter.com .\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210430005058/en/\n'

Union Bankshares Announces Earnings for the three months ended March 31, 2021 and Declares Quarterly Dividend

Retrieved on: 
Wednesday, April 21, 2021
United States federal banking legislation, Community Reinvestment Act, Mortgage industry of the United States, Redlining, United States housing bubble, XC2, Dividend, Union Bank, Urban planning, Cities in the United States, Housing in the United States

b'MORRISVILLE, Vt., April 21, 2021 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three months ended March 31, 2021 and declared a regular quarterly cash dividend.

Key Points: 
  • b'MORRISVILLE, Vt., April 21, 2021 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three months ended March 31, 2021 and declared a regular quarterly cash dividend.
  • In addition to loan growth, investment securities, including interest bearing deposits in other banks increased $61.7 million from March\xc2\xa031, 2020 to March\xc2\xa031, 2021.
  • All of these efforts have resulted in Union receiving and "Outstanding" rating for its compliance with the Community Reinvestment Act ("CRA") in its most recent examination.
  • These values--combined with financial expertise, quality products and the latest technology--make Union Bank the premier choice for your banking services, both personal and business.

FTC Staff Issues Note on Holder Rule and Large Transactions

Retrieved on: 
Saturday, April 17, 2021
United States federal banking legislation, Consumer protection law, Truth in Lending Act, Federal Trade Commission, Tila, Business law, Articles, Economy, Holder in due course

The staff of the Federal Trade Commission hasissued a notecorrecting previous staff guidelines on the FTCs Trade Regulation Rule Concerning Preservation of Consumers Claims and Defensescommonly known as the Holder Rule.

Key Points: 
  • The staff of the Federal Trade Commission hasissued a notecorrecting previous staff guidelines on the FTCs Trade Regulation Rule Concerning Preservation of Consumers Claims and Defensescommonly known as the Holder Rule.
  • The new staff note corrects an erroneous statement in a 1976 pamphlet by FTC staff that the Holder Rule did not apply to transactions larger than $25,000.
  • Those staff guidelines stated that the Rule incorporates the transaction cap that was present in the Truth in Lending Act (TILA).
  • The note states that the text of the Holder Rule does not contain any exemption based on the size of a transaction.