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Senate to Consider ATM Fee Cap Among Proposed Amendments to Financial Reform Bill
The Senate is expected to soon consider placing a fifty-cent per transaction cap on ATM fees, as an amendment to the financial reform bill . The proposed amendment, introduced last week by Senator Tom Harkin (D-Iowa)…
FTC Releases Annual Report
Recently, Federal Trade Commission Chairman Jon Leibowitz released the FTC’s 2010 Annual Report, which focused largely on the FTC’s endeavors to defend financially distressed consumers and to spur competition during…
REMINDER: New Credit Card Regulations Take Effect Today; Gift and Debit Card Rules to Follow
Major provisions of a new law related to credit and gift cards take effect today. The Credit CARD Act, which was signed by President Obama in May 2009, marked the culmination of several legislative efforts to reform…
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…