Banking Report Index-Summary

PANAMA

– Tax information exchange agreement with U.S., access to bank data, 95:1036

PAYDAY LOANS

– Debt collection, alleged attempts to garnish borrowers' wages illegally and other allegedly illegal practices, FTC claims (D. Utah), 94:706
– Finance charge limits, Colo. measure impact on industry, 94:982
– Online applications, Swish Marketing technology officer settlement of FTC claims over websites (N.D. Cal.), 95:639
– Privacy, alleged consumer data protection violations (Ill. Cir. Ct.), 95:694

PAYMENT CARDS

– Canada, code of conduct for credit card and debit card issuers, 94:773; code effective date, 95:332
– Credit cards

See CREDIT CARDS

– Data breach liability

– – Retailer payment cards, Wash. state measure, 94:370
– – Wash., amended state measure, 94:429

– Debit cards

See DEBIT CARDS

– Finland, Luottokunta data breach, theft of data from over 100,000 payment cards, 94:443
– Foreign reporting requirements in proposed IRS rules, witness concerns about competitive disadvantages, 94:556
– Gift cards

See GIFT CARDS

– Interchange fees

– – Dodd-Frank Act, “price setting” provisions for debit cards

– – – Carper (D-Del) concerns about pending FRB proposal, 95:1059
– – – FRB meeting over proposed rules, 95:1060
– – – House Small Business Comm. panel hearing, 95:204

– – Dubin (D-Ill) amendment to appropiations measure dies in committee, 95:203
– – Lawmakers and government agencies exploration of more extensive regulation, 94:1239

– Personal data breach notification, Heartland Payment Sys. settlement of claims, 94:69
– Prepaid access

– – Destruction of old cards

See LEGISLATION, FEDERAL, HR 5502

– – FinCEN consideration of IRS oversight authority under Bank Secrecy Act, 94:1298
– – Unbanked and underbanked consumers, cards as tools for potential transition to traditional banking services, 95:103

– Sale of already-printed prepaid cards, FRB approval of interim final rule, 95:304
– Transaction fees

– – Cal. measure, governor veto, 95:579
– – Wells Fargo Bank fine, impact on other litigation (N.D. Cal.), 95:321

PAYMENT SYSTEMS

– Automated clearinghouse networks, simplified framework of operating rules for participants, 94:865; FRB offering same-day service, 94:1240
– Check conversion method to process taxpayer checks, IRS requirements, 94:976
– Consumer protection, former Your Money Access president prohibited from processing payments debited from consumers' bank accounts (E.D. Pa.), 95:414
– Electronic commerce, operator of computer payment processing firms guilty plea to wire fraud (S.D.N.Y.), 94:987
– Heartland Payment Sys. data breach

– – Consolidated consumer class actions settlement (S.D. Tex.), 94:26
– – Hacker guilty plea, 94:27

– Innovation by trade groups and private firms in globalized economy, 94:310
– International standards, CPSS and IOSCO review in light of global financial crisis, 94:289
– Maritime transactions, momentary movement of funds through N.Y. allows attachment of funds under federal civil procedure rules (2d Cir.), 95:411
– Retail systems guidance updates, 94:412
– Risk management, FRB announcement of effective date for implementation of revisions, 95:12; encouragement of collateralized overdrafts, 95:562
– Smart phones and mobile banking, NACHA survey, 94:864
– SWIFT transfers, EU warn data privacy guarantees necessary, 94:164; European Parliament blockage of temporary agreement, 94:332; Holder remarks, 94:693; revised draft agreement under discussion, 94:1263; new draft agreement not fully in compliance with EU privacy law, 95:29
– 2010 Payment Study, FRB report initiation, 94:140
– Unauthorized electronic funds transfers

– – Capital One Bank's processing of corporate officer embezzlement not covered under Computer Fraud and Abuse Act (E.D. Pa.), 95:848
– – Your Money Access settlement for processing deceptive telemarketer and internet scheme transactions (E.D. Pa.), 95:850

PCAOB

See PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB)

PENNSYLVANIA

– Accounting, auditors not barred from offering “unclean hands” defense (Pa.), 94:432
– Failed banks

– – Allegiance Bank of N. Am. in Bala Cynwyd, 95:930
– – Earthstar Bank in Southampton, 95:1063

– Failed credit unions, Lawrence County Sch. Employees FCU in New Castle, 94:472

PENSIONS

– Breach of fiduciary duty, Regions Financial and affiliates, offering of proprietary mutual funds in retirement plans while reaping kickbacks (W.D. Tenn.), 94:528
– Irwin Financial, PBGC as trustee of underfunded pension plan, 95:362
– Pay-to-play, N.Y. lobbyist and equity firm fine for investing practices associated with CRF, 95:1076
– Stock-drop claims against Citigroup, ERIC and ABC brief requesting upholding of dismissal (2d Cir.), 94:663

POLAND

– Extension of bank support scheme, European Comm'n approval, 95:29

PORTUGAL

– Bank secrecy, alteration of tax law with respect to taxpayer bank accounts, 95:426
– Financial stability report, Bank of Portugal assessment of structural imbalances and reliance on ECB, 95:1033
– Securities, reimbursement of investors in unregistered securities (Mass. Securities Div.), 95:237

PPIP

See PUBLIC PRIVATE INVESTMENT PROGRAM (PPIP)

PREEMPTION

– Consumer protection, National Bank Act supersession of state law (4th Cir.), 94:159
– Disclosure standards, national bank exemptions, interest groups requesting appeal of split Cal. court decisions, 95:276; review to proceed (Cal.), 95:409
– Dodd-Frank Act, murky practical outlines likely, American Bar Ass'n meeting, 95:324
– Mortgages, class claims against Wells Fargo for alleged violations of state unfair competition laws superseded (9th Cir.), 94:527
– National Bank Act, Neiman remarks on “cooperative federalism,” 95:676
– Student loan servicers, Cal. class action claims against Sallie Mae interest rates, late fees, and payment schedules (9th Cir.), 94:236

PRIVACY

– Confidential information

– – Dodd-Frank Wall Street Reform and Consumer Protection Act, Bachus (R-Ala) request for reconsideration of provision, 95:215
– – FDIC employee guilty of disclosure of data about FDIC and customer of bank in receivership (D. Kan.), 94:707

– Credit cards, Ill. restrictions on use of college students' personal information for marketing purposes, 94:19
– Data breaches

See DATA SECURITY

– Disclosures of data collection practices

– – Boucher (D-Va) measure, merger with competing measure possible, 95:213
– – Rush (D-Ill) measure

See LEGISLATION, FEDERAL, HR 5777

– Enforcement policy, “red flags” rule

– – Application to attorneys (D.D.C.), 94:483
– – Fair Credit Reporting Act, amendments to creditor definition

See LEGISLATION, FEDERAL, HR 6420, S 3987

– – Identification of some violations in first cycle of compliance reviews, Analysis and Perspective, 94:633
– – Scope of identity theft rule, FTC and American Bankers Ass'n arguments (D.C. Cir.), 95:583

– GLB Act

See GRAMM-LEACH-BLILEY ACT

– Global network to enhance enforcement of international laws, 95:539
– Money laundering, information sharing rules under Bank Secrecy Act, industry reaction to FinCEN proposed amendments, 94:7
– Personal data

– – Draft Boucher (D-Va)-Stearns (R-Fla) measure forcing safeguards for broad range of information, 94:1191
– – Hill Watch, 95:428

– SWIFT transfers

See PAYMENT SYSTEMS

PROFESSIONAL LIABILITY

– Third-party financial advisors, pleas for broader liability rejected (N.Y. Ct. App.), 95:744; Refco litigation trustee lacks standing to sue institutions allegedly aiding fraudulent activities (2d Cir.), 95:941

PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB)

– “For cause” removal of members, Sarbanes-Oxley Act provision in violation of separation of powers doctrine (U.S., aff in part, rvs in part), 95:22

PUBLIC PRIVATE INVESTMENT PROGRAM (PPIP)

– Assets of failed banks, interest in purchases rather than acquisition of entities, 94:283
– Investing, fund managers seeking transfer of portfolio to new firm, 94:58
– Legacy Securities program, Treasury Dep't report on fourth quarter 2009 performance, 94:215

PUERTO RICO

– Failed banks

– – Eurobank of San Juan, 94:863
– – R-G Premier Bank of Hato Rey, 94:863
– – Westernbank of San Juan, 94:863

– Failed credit unions, Industries Peurto Rico FCU of Manati, 95:458
– Money laundering, Eurobank civil penalty for BSA violations, 94:914