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FDIC, OCC issue proposed rule to amend CRA requirements
The proposed rule would modernize the agencies’ Community Reinvestment Act regulations, which have not substantively changed in nearly 25 years.
Economic activity continues rising at moderate rate; ‘funds’ rate unchanged
Indicating that the unemployment rate remains low and household spending has been rising at a strong pace, the FOMC decided to maintain the current federal funds rate.
FDCPA time limit includes no discovery rule, starts on violation
The Fair Debt Collection Practices Act one-year statute of limitations begins to run when the Act is violated, not when the violation is discovered, the Supreme Court has decided.
ABA, CBA comment on California AG’s proposed privacy regulations
The American Bankers Association recommended a number of changes, and the Consumer Bankers Association expressed "significant concerns."
OFAC slaps sanctions on Russia-based cybercriminal group that caused $100 million in theft
The Russia-based cybercriminal organization Evil Corp, that caused $100 million in theft due to its Dridex malware, has been sanctioned by OFAC and its leader has a $5 million bounty on his head.