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Burmese Sanctions Amended For Donations
OFAC has issued an amended general license under its Burmese Sanctions Regulations which allows U.S. persons to make donations in support of not-for-profit humanitarian or religious activities in Burma, subject to certain conditions.
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Identity Theft Red Flag compliance is due by November 1, 2008. How do these requirements impact your risk management, fraud prevention and BSA/AML compliance programs? Avoid duplication, reduce costs and still produce programs that meet both regulatory and practical performance needs. Learn more NOW. Call 410-867-8217 x204 or visit us at www.bankdetect.com/Main/RedFlagsLead.htm.
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HUD Extends Comment Period for Proposed Rulemaking for RESPA
This notice extends the public comment period for an additional 30-day period for HUD's proposed rule entitled "Real Estate Settlement Procedures Act (RESPA); Proposed Rule
to Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs," published on March 14, 2008. The public comment period for this proposed rule is scheduled to close on May 13, 2008. HUD is extending the public comment period to June 12, 2008.
Arkansas Bank Closed Deposits Assumed
ANB Financial, National Association, Bentonville, Arkansas, has been closed by the OCC and the FDIC has been appointed receiver. The FDIC has announced the assumption of the insured deposits of ANB Financial by Pulaski Bank and Trust Company, Little Rock, Arkansas.
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Application Security Bulletin Issued
The OCC has issued a Bulletin to remind national banks and their technology service providers that application security is an important component of their information security program.
Myanmar Charity Scams Warning Issued
The FTC has issued a warning urging consumers to be cautious of potential charity scams in connection with the devastating cyclone in Myanmar.
Agencies Announce Consumer Finance Policy Summit
The FDIC, FRB, OCC and OTS will sponsor the sixth annual Consumer Finance Policy Summit on June 12-14, 2008 in Cleveland, Ohio. The sessions will feature discussions regarding subprime lending; unfair and deceptive lending practices; financial education; credit scores and their impact on the cost of credit; and reaching the unbanked.
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