FIL-30-2020 March 27, 2020 Statement on Part 363 Annual Reports in Response to the Coronavirus Printable Format: FIL-30-2020 – PDF (PDF Help) Summary: The FDIC issued the Statement on Part 363 Annual Reports in Response to the Coronavirus to provide additional information and guidance to insured depository institutions (IDIs) subject to Part 363 of the […]
Monthly Archives: March 2020
FTC Extends Comment Deadline for Endorsement Guides Review to June 22
The Federal Trade Commission is extending by sixty days the deadline to submit comments as part of the agency’s review of its Endorsement Guides. The deadline was originally April 21, 2020; it is now June 22, 2020. The FTC announced in February that it would accept comments on a wide range of issues related to […]
FTC to Resume Processing HSR Early Termination Requests on March 30
The Federal Trade Commission, in partnership with the Department of Justice’s Antitrust Division, will resume the practice of granting early termination of the HSR Act’s waiting periods when both agencies have determined that no enforcement action will be taken during the waiting period, the agency announced in a blog posted today. On March 13, as […]
FTC Warns Nine VoIP Service Providers and Other Companies against ‘Assisting and Facilitating’ Illegal Coronavirus-related Telemarketing Calls
Federal Trade Commission staff sent letters to nine Voice over Internet Protocol (VoIP) service providers and other companies warning them that “assisting and facilitating” illegal telemarketing or robocalls related to the coronavirus or COVID-19 pandemic is against the law. Many of these calls prey upon consumers’ fear of the virus to perpetrate scams or sow […]
FDIC Updates Steps to Protect Banks and Consumers and to Continue Operations
FIL-29-2020 March 27, 2020 FDIC Updates Steps to Protect Banks and Consumers and to Continue Operations Printable Format: FIL-29-2020 – PDF (PDF Help) Summary: The FDIC is updating steps announced on March 16, 2020 to protect banks and consumers and to continue operations. Statement of Applicability to Institutions with Total Assets under $1 billion: This […]
FTC Gives Final Approval to Settlement with Stalking Apps Developer
The Federal Trade Commission has given final approval to a settlement with the developer of three “stalking” apps over allegations the company and its owner failed to secure the data collected by the apps and ensure the apps were used for legitimate purposes. The apps—MobileSpy, PhoneSheriff and TeenShield—sold by Retina-X Studios, LLC allowed purchasers to […]
FTC Seeks Comments on Proposed Changes to the Energy Labeling Rule
The Federal Trade Commission has approved a Federal Register notice (FRN) seeking public comments on proposed changes to the agency’s Energy Labeling Rule. The Commission proposes amending the Rule to require EnergyGuide labels for portable air conditioners and update the energy efficiency descriptors for central air conditioners. The Commission also seeks comment on the burden […]
Statement of the Comptroller of the Currency on the Condition of the Federal Banking System and the Response to COVID-19
News Release 2020-41 | March 26, 2020 Share This Page: WASHINGTON—Comptroller of the Currency Joseph M. Otting made the following statement during today’s Financial Stability Oversight Council meeting regarding the condition of the federal banking system and its response to the COVID-19 national emergency. Thank you, Mr. Secretary, for convening FSOC and the work done by […]
Federal Agencies Encourage Banks, Savings Associations and Credit Unions to Offer Responsible Small-Dollar Loans to Consumers and Small Businesses Affected by COVID-19
News Release 2020-40 | March 26, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemConsumer Financial Protection BureauFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency Five federal financial regulatory agencies today issued a joint statement encouraging banks, savings associations and credit unions to offer responsible small-dollar […]
Secretary Mnuchin on CNBC
Today, Secretary Mnuchin discussed the economic relief package for American workers and businesses on CNBC’s “Squawk on the Street.” On Congressional Negotiations: “I want to thank the Senate for their swift action. People literally worked around the clock for five days. The President and I and others couldn’t be more pleased with the absolute unanimous […]