HARRISBURG, Pa. - (06/21/05) -- Recent incidents of mass theft ofpersonal data is expected to give a boost to several billsintroduced in the state legislature aimed at thwarting identitytheft and other unauthorized uses of consumers' personalinformation. One of the bills would require that all businessesnotify their customers, not just their credit agencies, if theylearn that personal information has been compromised. Another wouldmake it crime for someone to install spyware, software used tosteal personal information or steer ads to a computer user, onsomeone's computer without permission, or with the intention ofcollecting personal information. The introduction of this billcomes after the U.S. House passed a similar anti-spyware bill,which would create monetary and criminal penalties for spywarepurveyors. Others measures being proposed would: allow individualsto put a security alert on their credit report, if they suspectsomeone has stolen their credit information; allow cell phonecustomers to opt out of a company's subscriber directory; woulddiscourage businesses and government agencies from posting SocialSecurity numbers online; and require the state Department ofTransportation to issue a new driver's license number to anyone whocan show that he's been the victim of identity theft.
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JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
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House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
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The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
June 26 -
A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.
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Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.
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The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
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