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Massachusetts investigating data breach
On September 14, the Massachusetts attorney general announced the launch of an investigation to determine if an international wireless carrier had proper safeguards in place to protect consumer and mobile device information after a major data breach that allegedly compromised personally-identifying...
InfoBytesOCC’s Hsu discusses priorities for safeguarding trust in banking
On September 15, acting Comptroller of the Currency Michael J. Hsu spoke before the Exchequer Club to discuss several agency priorities relating to reducing inequality, adapting to digitization, acting on climate change, and guarding against complacency. In prepared remarks , Hsu stressed the...
InfoBytesFDIC launches investment vehicle to support MDIs and CDFIs
On September 16, the FDIC announced the launch of a new capital investment vehicle to support insured Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs) that provide capital and financial services to low- and moderate-income, minority, and rural...
InfoBytesFHFA seeks comments on regulatory capital framework
On September 15, FHFA issued a notice requesting public comment on a proposed rule that would amend the regulatory capital framework for Fannie Mae and Freddie Mac (collectively, “GSEs”). The proposed rule would amend the prescribed leverage buffer amount (PLBA) and the capital treatment of credit...
InfoBytesFTC reveals rulemaking petition process
On September 15, the FTC announced significant changes in the agency’s rulemaking process that represent “a significant step to increase public participation and accountability around the work of the FTC.” According to the announcement, the Commission approved changes to the FTC’s “Rules of...
InfoBytesFTC says health apps must comply with Health Breach Notification Rule
On September 15, the FTC warned health apps and connected devices collecting or using consumers’ health information that they must comply with the FTC’s Health Breach Notification Rule (Rule). The Rule requires companies to notify consumers and others if consumers’ health data is breached, and...
InfoBytesOFAC sanctions Columbian drug trafficker
On September 16, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to the Foreign Narcotics Kingpin Designation Act against a leader of a Columbia-based international drug trafficking organization. OFAC noted that the designated individual “...
InfoBytesSEC reaches $1 billion milestone in whistleblower awards
On September 15, the SEC announced whistleblower awards totaling nearly $114 million to two whistleblowers who provided information and assistance leading to successful SEC and related actions. According to the redacted order , the first whistleblower was awarded $110 million for providing “...
InfoBytesDFPI issues mortgage servicer requirements
On September 13, the California Department of Financial Protection and Innovation (DFPI) issued a notice detailing a new requirement that mortgage servicers provide information to DFPI describing the actions servicers are taking to help homeowners avoid foreclosure. According to the announcement,...
InfoBytesSEC charges alternative data provider with securities fraud
On September 14, the SEC announced a settlement with an alternative data provider and one of the company’s co-founders (collectively, "respondents") resolving allegations that the company violated antifraud provisions by engaging in deceptive practices and making material misrepresentations...
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