United States federal banking legislation

The COVID-19 Crisis is Affecting the European Payments Landscape - Businesses Facing Unparalleled Uncertainty

Retrieved on: 
Thursday, July 2, 2020
Great Recession in the United States, Applied ethics, Subprime mortgage crisis, United States federal banking legislation

The survey was conducted among financial executives and business leaders in 9,980 companies across 29 European countries.

Key Points: 
  • The survey was conducted among financial executives and business leaders in 9,980 companies across 29 European countries.
  • But in the short-term, the crisis is already affecting consumers, leading to increased negative financial pressure and wellbeing.
  • "Half of European companies now seek initiatives to prevent late payments from corporations and new legislation to tackle the problem, which is a positive sign.
  • These initiatives will be essential in ensuring steady cash flow for European businesses post-crisis," says Ericson.

FTC Releases Agenda for Safeguards Rule Virtual Workshop

Retrieved on: 
Wednesday, July 1, 2020
United States federal banking legislation, Prevention, 106th United States Congress, Gramm–Leach–Bliley Act, Separation of investment and retail banking, Corporate crime, Computer security, Federal Trade Commission, Gramm, Information security, Government, Safety

The Federal Trade Commission released the final agendafor a July 13, 2020 virtual workshop that will seek input on proposed changes to the Gramm-Leach-Bliley Acts Safeguards Rule, which requires financial institutions to develop, implement, and maintain a comprehensive information security program.

Key Points: 
  • The Federal Trade Commission released the final agendafor a July 13, 2020 virtual workshop that will seek input on proposed changes to the Gramm-Leach-Bliley Acts Safeguards Rule, which requires financial institutions to develop, implement, and maintain a comprehensive information security program.
  • The virtual workshop will examine some of the issues raised in response to amendments the FTC has proposed to the Safeguards Rule.
  • In 2019, the FTC sought comments on the proposed amendments to the Rule.
  • The virtual workshop will feature five panel discussions examining such issues as:

    The workshop will be held online.

FTC Releases Agenda for Safeguards Rule Virtual Workshop

Retrieved on: 
Wednesday, July 1, 2020
United States federal banking legislation, Prevention, 106th United States Congress, Gramm–Leach–Bliley Act, Separation of investment and retail banking, Corporate crime, Computer security, Federal Trade Commission, Gramm, Information security, Government, Safety

The Federal Trade Commission released the final agendafor a July 13, 2020 virtual workshop that will seek input on proposed changes to the Gramm-Leach-Bliley Acts Safeguards Rule, which requires financial institutions to develop, implement, and maintain a comprehensive information security program.

Key Points: 
  • The Federal Trade Commission released the final agendafor a July 13, 2020 virtual workshop that will seek input on proposed changes to the Gramm-Leach-Bliley Acts Safeguards Rule, which requires financial institutions to develop, implement, and maintain a comprehensive information security program.
  • The virtual workshop will examine some of the issues raised in response to amendments the FTC has proposed to the Safeguards Rule.
  • In 2019, the FTC sought comments on the proposed amendments to the Rule.
  • The virtual workshop will feature five panel discussions examining such issues as:

    The workshop will be held online.

New SmartyPig App Helps Customers Grow Savings on the Go

Retrieved on: 
Wednesday, July 1, 2020
Other Consumer, Women, Teens, Other Professional Services, Other Technology, MEN, Software, Family, Finance, Banking, Consumer, Professional services, Technology, Mobile, Wireless, Other Education, Continuing, University, Education, Economy, Finance, Financial services, Bank deposits, Bank account, Bank regulation in the United States, United States federal banking legislation, Sallie Mae, Certificate of deposit, Federal Deposit Insurance Corporation, Annual percentage yield, Money market account

Sallie Mae has put saving for any financial goal at your fingertips with the new SmartyPig app.

Key Points: 
  • Sallie Mae has put saving for any financial goal at your fingertips with the new SmartyPig app.
  • Available on both Apple and Android devices, the new SmartyPig app helps account holders easily set new savings goals, make deposits and withdrawals, and manage their accounts all from their mobile device.
  • SmartyPig is Sallie Maes free, FDIC-insured, goal-based savings account with competitive interest rates of up to 1.25 percent APY .
  • In addition to SmartyPig, Sallie Mae provides a variety of savings products, including money market accounts , certificates of deposit , and high-yield savings accounts .

Fifth Third Releases Stress Capital Buffer Requirement

Retrieved on: 
Tuesday, June 30, 2020
Banking, Other Professional Services, Professional services, Finance, Financial services, Finance, Economy, Systemic risk, Bank regulation, United States federal banking legislation, Comprehensive Capital Analysis and Review, Consumer Financial Protection Bureau, Insurance in the United States, Stress test, Psychological resilience, Capital requirement

Fifth Third Bancorp (Nasdaq: FITB) today released its indicative stress capital buffer requirement resulting from the Federal Reserve Boards (FRB) 2020 Comprehensive Capital Analysis and Review results incorporating the FRBs supervisory severely adverse scenario published in February 2020.

Key Points: 
  • Fifth Third Bancorp (Nasdaq: FITB) today released its indicative stress capital buffer requirement resulting from the Federal Reserve Boards (FRB) 2020 Comprehensive Capital Analysis and Review results incorporating the FRBs supervisory severely adverse scenario published in February 2020.
  • Fifth Thirds indicative stress capital buffer under this scenario is 2.5%, effective October 1, 2020.
  • The stress capital buffer of 2.5% is the floor under the regulatory capital rules.
  • The outcomes of the stress test demonstrate Fifth Thirds balance sheet resilience, pre-provision net revenue capabilities, and the soundness of our capital levels.

Bank of America Statement on Federal Reserve’s 2020 Comprehensive Capital Analysis and Review

Retrieved on: 
Monday, June 29, 2020
Banking, Professional services, Finance, Finance, Financial services, Comprehensive Capital Analysis and Review, Consumer Financial Protection Bureau, Insurance in the United States, United States federal banking legislation, CCAR, Economy of the United States, Federal Reserve, Bank of America, Brian Moynihan, Moynihan

Bank of America today commented on the results of the Federal Reserves 2020 Comprehensive Capital Analysis and Review (CCAR).

Key Points: 
  • Bank of America today commented on the results of the Federal Reserves 2020 Comprehensive Capital Analysis and Review (CCAR).
  • This annual regulatory review, conducted since 2009, provides evidence to support that, said Bank of America Chairman and Chief Executive Officer Brian Moynihan.
  • Based on its 2020 CCAR results, Bank of America will be subject to a preliminary 2.5% stress capital buffer (SCB) for the period beginning October 1, 2020 and ending on September 30, 2021.
  • The Federal Reserve has stated it expects to finalize the SCB for all firms by August 31, 2020.

EU Bank times 15-year benchmark Climate Awareness Bond and extension of CAB-eligibilities on approval of EU Sustainability Taxonomy Regulation by European Parliament

Retrieved on: 
Friday, June 26, 2020
Financial markets, Finance, Security, Stock market, Money, Structured finance, 73rd United States Congress, Federal Deposit Insurance Corporation, United States federal banking legislation, Credit rating agency, Decline of the Glass–Steagall Act

The fact that information about a particular issue of securities is given on this web site does not mean that those securities are permitted investments under such laws and regulations.

Key Points: 
  • The fact that information about a particular issue of securities is given on this web site does not mean that those securities are permitted investments under such laws and regulations.
  • Investing in securities carries risks, especially in the case of structured or long-dated securities.
  • Financial intermediaries who recommend investments in securities issued by EIB should ensure that the investors understand the risks attached to such investments.
  • Nothing on this web site constitutes an offer to sell any investment.

Northern Trust Discloses Dodd-Frank Act Stress Test Results

Retrieved on: 
Thursday, June 25, 2020
Banking, Professional services, Finance, Systemic risk, Consumer Financial Protection Bureau, Insurance in the United States, United States federal banking legislation, Finance, Money, Economy, Great Recession in the United States, Stress test, Comprehensive Capital Analysis and Review, Northern Trust, Trust law

Northern Trust Corporation (Nasdaq: NTRS) today disclosed the results of its company-run stress test under the severely adverse scenario provided by the Board of Governors of the Federal Reserve System for the 2020 Comprehensive Capital Analysis and Review.

Key Points: 
  • Northern Trust Corporation (Nasdaq: NTRS) today disclosed the results of its company-run stress test under the severely adverse scenario provided by the Board of Governors of the Federal Reserve System for the 2020 Comprehensive Capital Analysis and Review.
  • Northern Trust, as with other companies covered by the provisions of Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is required to conduct company-run stress tests and to disclose summary results of its company-run stress test under the severely adverse scenario.
  • Northern Trusts results may be found at: https://www.northerntrust.com/united-states/about-us/investor-relations
    Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals.
  • Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S.

U.S. Bancorp Releases 2020 Dodd-Frank Act Stress Test Results

Retrieved on: 
Thursday, June 25, 2020
Banking, Professional services, Finance, United States federal banking legislation, Systemic risk, Economy, Consumer Financial Protection Bureau, Insurance in the United States, Finance, 111th United States Congress, Dodd–Frank Wall Street Reform and Consumer Protection Act, Money, Dodd, Stress test, Wall Street reform

U.S. Bancorp (NYSE: USB) today disclosed the results of its company-run Dodd-Frank Act Stress Test (DFAST) conducted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Key Points: 
  • U.S. Bancorp (NYSE: USB) today disclosed the results of its company-run Dodd-Frank Act Stress Test (DFAST) conducted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act.
  • The DFAST results, along with a summary of the companys risks and methodologies used to calculate the results, are available on the companys website at www.usbank.com under About Us, Investor Relations, Financial Information and Dodd-Frank Act Stress Test results.
  • DFAST results for U.S. Bancorps primary banking subsidiary, U.S. Bank National Association, are also available on the companys website.
  • Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements about U.S. Bancorp.

NexaCollect Launches Commercial Collection Agency Portal

Retrieved on: 
Monday, June 22, 2020
Debt collection, Economy, Money, Finance, Contract law, Bankruptcy in the United States, Fair Debt Collection Practices Act, United States federal banking legislation, Accounts receivable, Fair debt collection, Cash collection

ROHNERT PARK, Calif., June 22, 2020 /PRNewswire-PRWeb/ -- Accounts receivable industry's leading information portal, NexaCollect, has launched a B2B division that now provides facts and advice regarding the Commercial debt collection.

Key Points: 
  • ROHNERT PARK, Calif., June 22, 2020 /PRNewswire-PRWeb/ -- Accounts receivable industry's leading information portal, NexaCollect, has launched a B2B division that now provides facts and advice regarding the Commercial debt collection.
  • After assisting small businesses and medical professionals for over the years in consumer debt collection (or B2C collection), increasing demand for guidance on commercial collection agencies was also observed.
  • After a detailed consultation with industry experts, a new section about commercial collection agency facts and figures has been launched.
  • A Commercial collection agency is not covered under the Fair Debt Collection Practices Act (FDCPA) laws.