InfoBytes, July 15, 2011 - Weekly In-depth review of news & developments in the financial services industry

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In This Issue:

Federal Issues; State Issues; Courts; Firm News; Firm Publications; Mortgages; Banking; Consumer Finance; Litigation; and E-Financial Services.

Excerpt from Federal Issues:

FEDERAL ISSUES

Treasury to End Sale of Paper U.S. Savings Bonds. On July 13, the Bureau of the Public Debt announced that paper savings bonds will no longer be sold at financial institutions as of January 1, 2012 but electronic savings bonds will remain available in Series EE and I. Electronic savings bonds are available for purchase through TreasuryDirect, which is a secure, web-based system operated by the Bureau of Public Debt on which one can buy, manage, and redeem electronic bonds. Ending the sale of paper bonds at financial institutions is part of the U.S. Department of the Treasury's all-electronic initiative and is expected to save American taxpayers approximately $70 million over the first five years. Paper savings bond holders still can redeem their bonds at financial institutions, and bonds that have not matured that have been lost, stolen, or destroyed can be reissued in paper or electronic form. For more information about the elimination of paper bonds and how to enroll in TreasuryDirect, visit www.treasurydirect.gov.

Please see full newsletter 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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