Banking & Financial Services E-Note - September 2012


In This Issue:

- CFPB Proposes New Rule for Stay-at-Home Parent Credit Cards

- Fewer Credit Card Complaints Than Expected, CFPB Director Reports

- Treasury Recommends Standard Chartered Money Transfer Settlement

- U.S. Should Reject Basel III Unless Changed, FDIC Director Says

- CFPB to Launch Supervision of Big Three Credit Bureaus

- Major Banks Consider Whether to Get into California Carbon Market

- Prosecutors, Debt Collectors Team to Collect Money

- FDIC Urges Banks to Consider Unbanked as Customers

- Ice Cream Shop Owner Faces Scrutiny for Opening Bank Alternative

- Excerpt from CFPB Proposes New Rule for Stay-at-Home Parent Credit Cards:

Help is on the way for stay-at-home parents being denied credit cards because they don't have income of their own. The Consumer Financial Protection Bureau will propose a rule within the next few months that will make it easier for applicants without personal income to qualify for credit cards, the agency's director Richard Cordray said at a congressional hearing.

Please see full E-Note below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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