Compliance

Trump plows into Libra debate as politicians face crytpo learning curve

07/12/19

As Congress and the SEC were taking steps to regulate alternative currencies, they required a deep knowledge of the cryptocurrency market and technologies. For those who put off their crypto education, Facebook's Libra is a wake-up call.

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Proven bank privacy laws should apply to tech firms, too

07/10/19

The Gramm-Leach-Bliley Act is a successful privacy law that ought to govern all financial services providers, not just banks.

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Payday loan alternative moves forward in California

07/09/19

A bill to regulate firms that give workers early access to unpaid wages passed a key committee this week, but industry groups and advocates are still seeking changes.

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Banks take a pass on rollback of overdraft rule

07/08/19

The CFPB asked whether 10-year-old consumer protections against overdrafts are onerous or unfair, especially to smaller financial institutions, but banking industry officials largely said any changes could invite new problems.

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CFPB filed no fair-lending enforcement cases last year

07/02/19

The CFPB did not file any fair-lending enforcement actions in the 2018 fiscal year and did not refer any Equal Credit Opportunity Act violations to the Department of Justice.

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PayPal, card networks may bear a ‘heavy burden’ with Facebook crypto plan

07/01/19

Visa, Mastercard and PayPal may have boosted the single, greatest risk they face -- that of tougher regulation -- by becoming early backers for Facebook new digital money, called Libra.

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Lowering the bar on financial regulation is fraught with risk

06/27/19

A recent proposal by the Financial Stability Oversight Council to focus less on certain nonbank firms and more on risk activities would create unintended economic harm.

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Facebook's Libra will force a reckoning on crypto, privacy law

06/27/19

In the eyes of regulators, Facebook and bitcoin have a lot in common. Both challenge citizens' relationship to privacy, and both use technology in ways that current laws were unprepared for.

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Facebook's Libra turns foes into allies in regulatory face-off

06/18/19

Facebook is focusing the initial discussions around its cryptocurrency project as a preemptive strike against the privacy and legal concerns the public and politicians have about the huge social network.

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Santander’s U.S. units not out of woods yet

06/03/19

Santander Bank and Santander Consumer USA have put many problems behind them in recent years under CEO Scott Powell, but he still has a Federal Reserve enforcement action to resolve and is negotiating with Fiat Chrysler to preserve a crucial auto lending relationship.

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