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New Senate Financial Reform Bill Released
Today, Senate Banking Committee Chairman Chris Dodd (D-CT) released a revised financial regulatory reform bill, which would create the Bureau of Consumer Financial Protection. The Bureau would be housed in the Federal…
Layaway Making a Comeback? Retailers Beware
With so much of the economy still struggling, credit harder to come by, and consumers being more conservative with their spending, various commentators have suggested that layaway programs are poised to make a…
State Regulators' Powers Over National Banks Reaffirmed by U.S. Supreme Court
Recently, the United States Supreme Court, in its decision styled Andrew M. Cuomo v. The Clearing House Association, L.L.C., No. 08-453, reaffirmed that federal banking regulations do not pre-empt states from…
Federal Agencies Issue FAQs on FACTA Red Flag Compliance
Last week, the Federal Trade Commission, jointly with other federal agencies that regulate financial institutions, released "frequently asked questions" designed to provide additional assistance to companies required…
NAACP To File Subprime Suits Against Wells Fargo and HSBC
The latest class action complaints alleging improper subprime lending practices are due to be filed against two banks today. The NAACP plans to file separate class action lawsuits today against Wells Fargo and HSBC.…