Links in “Banks”
- Five Predictions for the Rest of 2014
Industry experts have made five predictions for the second half of 2014; some are predictable, but others may surprise you. [6/4]
- Student Loans in the Spotlight: 2 Senate Hearings Today
Today, both the Senate Budget Committee and a Senate Banking subcommittee will be scrutinizing student loans. [6/4]
- Florida Credit Union Seeks to Buy Bank Branch
Florida Central Credit Union is asking regulators for approval to buy a Sarasota branch of First Federal Bank. [6/4]
- Debt-Relief Company Takes Access to Customers’ Bank Accounts
FTC charges California-based DebtPro 123 with deceiving customers. Company promised to settle debts and repair credit, but got direct access to debit their bank accounts and charged customers up to $10K, leaving them in even worse shape than when they started. [6/4]
- Bank Robbery: Not a Thinking Man’s Game
Bank robber in the Chicago area flashes knife, walks out with $87K, but not until after also filling out an account application using a state ID card and providing his social security number. [6/4]
- $7.5M Later: A Laundry List of How Not to Collect Debt
The Federal Trade Commission hits Consumer Portfolio Services (Irvine, CA) with $5.5 million settlement for violations of the FTC Act and another $2 million in civil penalties for violations of the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. Here's a laundry list of how not to collect debt. [6/4]
- DOJ Takes Down Hacking Network That Stole from Bank Accounts
Gameover Zeus, a botnet, infected up to 1 million computers, putting them in the control of hackers in Russia and Ukraine. The network stole bank credentials and used them to make wire transfers overseas. It is estimated the network stole more than $100 million. [6/3]
- Operation Choke Point: DOJ Just Getting Warmed Up?
Operation Choke Point, the Department of Justice program considered by some as a way to enable the administration targets legal companies it finds objectionable, may be moving from payday lenders to other industries, such as gun makers.
- ABA Lobbies for Alternatives to NFIP
Claims alternatives to the National Flood Insurance Program would drive down flood insurance premiums and help restore the NFIP's health. [6/3]
- The Hat Trick of Accreditation
The Massachusetts Division of Banks has received certificates of accreditation from the Conference of State Bank Supervisors (CSBS), the National Association of State Credit Union Supervisors (NASCUS), and the American Association of Residential Mortgage Regulators (AARMR). These accreditations certify that the Massachusetts Division of Banks maintains the highest standards in state banking, credit union, and mortgage supervision. This is the first triple-accreditation of its kind, and is part of a pilot program between the three organizations. [6/3]
