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Regulatory Affairs

The Subprime Lending Business Survives, Even Thrives

March 11, 2010 By: Time

Poor credit? It's still no problem for some lenders. The financial crisis was supposed to ring the death knell for companies that make loans to people who have had problems with debt. But a year and a half later, so-called subprime lending is alive and well. What's more, fears that increased regulat...


LifeLock Will Pay $12 Million to Settle Charges by the FTC and 35 States That Identity Theft Prevention and Data Security Claims Were False


March 10, 2010 By: Federal Trade Commission

LifeLock, Inc. has agreed to pay $11 million to the Federal Trade Commission and $1 million to a group of 35 state attorneys general to settle charges that the company used false claims to promote its identity theft protection services, which it widely advertised by displaying the CEO’s Social Secur...


A Consumer Bill Gives Exemption on Payday Loans


March 10, 2010 By: NY Times

Senator Bob Corker, the Tennessee Republican who is playing a crucial role in bipartisan negotiations over financial regulation, pressed to remove a provision from draft legislation that would have empowered federal authorities to crack down on payday lenders, people involved in the talks said. The ...


FDIC's Bair eyes low interest rates, more lending

March 9, 2010 By: Reuters

U.S. banking regulator Sheila Bair said on Monday that a low interest rate policy is "clearly appropriate" to get credit flowing, while also saying regulators should stop short of ordering banks to lend.


FDIC: Hackers took more than $120M in three months


March 9, 2010 By: BusinessWeek

Ongoing computer scams targeting small businesses cost U.S. companies US$25 million in the third quarter of 2009, according to the U.S. Federal Deposit Insurance Corporation. Online banking fraud involving the electronic transfer of funds has been on the rise since 2007 and rose to more than US$120 ...


FDIC to Provide Quick Tips for Consumers Over the Internet


March 9, 2010 By: FDIC

At any age or stage in life, it's important to stay informed about ways to save and protect your money. The FDIC, in observance of National Consumer Protection Week (NCPW) March 7-13 and its theme of helping people of all ages exercise their consumer rights, announced today that the agency will begi...


Fed proposes rule to limit credit card fees

March 8, 2010 By: USA Today

In the latest move to overhaul consumer banking practices, the Federal Reserve unveiled a preliminary rule last week to address pesky credit card fees such as late and over-limit charges. The rule — which will be finalized after the public is given a chance to comment — is as notable for what it doe...


Senators wrestle with Fed bank oversight issues

March 8, 2010 By: Reuters

The Federal Reserve could retain oversight of large bank holding companies under a scaled-back regulatory reform plan being considered by key senators, but important questions remained unanswered, lobbyists said on Sunday


The Fed flopped

March 5, 2010 By: Milwaukee Journal-Sentinel

"The Fed has repeatedly shown a lack of desire to enforce the laws that are already on its books," said John Taylor, president and chief executive of the National Community Reinvestment Coalition. "I'd take the National Zoo over these guys."


Justice Department Files Lawsuit Alleging Racial Discrimination at Ann Arbor, Michigan, Apartment Complex

March 5, 2010 By: US Justice Department

WASHINGTON – The Justice Department today filed a lawsuit against the owner and property manager of a 48-unit apartment complex in Ann Arbor, Mich., alleging that the defendants discriminated on the basis of race or color in the rental of apartments, the Justice Department’s Civil Rights Division an...


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