Links in “Banks”
- CT to Consumers: Beware Bitcoin
Citing market fluctuations that have seen Bitcoin's value rise from $100 in July 2013 to more than $1,100 in December 2013, the Connecticut Department of Banking issues a consumer advisory warning of the dangers of virtual currency. [5/13]
- Are Bankers Being Drafted as Morality Police?
News reports are stacking up about how payday lenders, check cashers, telemarketers, gun dealers and adult entertainers are having their accounts terminated by banks being pressured by regulators, leading to the question of what industry will they feel compelled to shut out next. [5/13]
- VA on QM
The Department of Veterans Affairs (VA) has proposed an interim rule to replace the CFPB's temporary rule that exempts VA loans from the 43% DTI threshold for Qualified Mortgages. [5/13]
- A Closer Look at FFIEC’s Plans for New Cybersecurity Tests
OCC spokesperson provides more details about the joint agencies' recently announced plans for cybersecurity risk assessments, including timeframe, whether they'll be standalone exams or part of the safety and soundness exams, etc. [5/12]
- Fannie & Freddie: Sticking Around for Awhile?
The movement to phase out Fannie Mae and Freddie Mac hits another snag, as six key senators appear to be deciding not to lend their support to the reform bill. [5/12]
- A Look at Fair Business Practices Enforcement Across the Pond
There's a new regulator in the U.K. called the Financial Conduct Authority. Here are some thoughts from its director of supervision, who considers the banking industry biased against the consumer, which is why a regulator is needed to ensure that markets act fairly. [5/12]
- New Type of Website Attack: Bank Referred to CFPB after Refusing to Participate in Self-Regulatory Process
Group finds issues with Atlanta-based SunTrust Bank's website, seeks to involve the bank in a self-regulatory process. When the bank refused, the group referred the bank to the CFPB. [5/9]
- Bankers’ Group Lends Support for CFPB Rule of Privacy Notices
It's not often that bankers and the CFPB see eye to eye, but when it comes to the CFPB's proposal to let banks post privacy notices online, instead of having to mail paper-based copies to their customers, the ICBA lends its full support. [5/9]
- NY’s Debt Collection Reforms: Cutting Edge or Too Consumer Friendly?
A look at how NY's proposed debt collection reforms stack up against other states, including Maryland. Some consider the revisions cutting edge; others see it as the court giving legal advice to consumers. [5/9]
- How Long Before U.S. Finally Exceeds Credit Card Security Used in Mongolia?
The plan is for the U.S. to abandon the archaic magnetic strip technology and put a computer chip in every one of its consumers' 1.2 billion credit and debit cards over the next 18 months, finally exceeding the level of credit card security used in Mongolia and Papua New Guinea. [5/8]
