News for the ‘obamaspeak’ Category

RIP persian godfather belmont auto center mory zakeri

mory zakeri was a car dealer mentor

” those who teach must also listen ”

mory made it

easy to learn the car business

and we will miss him dearly every day

rest in peace my friend

and we will meet at that persian banquet in the sky

” remember, car business is all about the pie,
we persians love the pie ”

joseph

remember, car business is all about the pie, we persians love the pie ++ mory zakeri rip 2009 persian auto godfather

remember, car business is all about the pie, we persians love the pie ++ mory zakeri rip 2009 persian auto godfather

red flag rules information from the FTC for the red flag rules compliance deadline of june 1, 2010

Are you complying

with the Red Flags Rule?

The Red Flags Rule requires many businesses and organizations to implement a written Identity Theft Prevention Program designed to detect the warning signs – or “red flags” – of identity theft in their day-to-day operations. Are you covered by the Red Flags Rule? Read Fighting Fraud with the Red Flags Rule: A How-To Guide for Business to:

  • Find out if the rule applies to your business or organization;
  • Get practical tips on spotting the red flags of identity theft, taking steps to prevent the crime, and mitigating the damage it inflicts; and
  • Learn how to put in place your written Identity Theft Prevention Program.

By identifying red flags in advance, you’ll be better equipped to spot suspicious patterns when they arise and take steps to prevent a red flag from escalating into a costly episode of identity theft. Take advantage of other resources on this site to educate your employees and colleagues about complying with the Red Flags Rule.

Fighting Fraud with the Red Flags Rule: A How-To Guide for Businesses PDF All About Red Flags Video Do-It-Yourself Template for Businesses at Low Risk PDF

rex our automated man for red flag compliance reveals a federal judge has carved a red flag rules exemption for the new FTC red flag rules +++ are lawyers going to be exempt from the red flag rules ???

Federal Judge Rules:

FTC Cannot Make Lawyers

Comply With Red Flag Rules

Identity Theft Laws

The Federal Trade Commission cannot force practicing lawyers to comply with new regulations aimed at curbing identity theft, a federal judge ruled today at the U.S. District Court for the District of Columbia.

The decision offers a reprieve to law firms across the country, which faced a deadline this weekend to put in place programs to meet so-called “Red Flags Rule” requirements. The rules would have forced firms to verify the identities of potential clients.

The American Bar Association, represented by a Proskauer Rose team led by partner Steven Krane, argued that the rules would impose a serious burden on law firms, and sought an injunction and declaratory judgment finding that lawyers were not covered by the rule. The FTC contended that lawyers should be covered, because many of their billing practices, such as charging clients on a monthly basis rather than up front, made them “creditors.”

Judge Reggie Walton said he had trouble accepting the FTC’s definition of a creditor. He said that under their interpretation, a plumber who charges a customer after working on a toilet for two days would be also be considered a “creditor.”

“I have a real problem with concluding that Congress intended to regulate lawyers when these statutes were enacted,” Walton said.

Proskauer’s Krane said the judge’s ruling granted all of the relief the ABA sought in the case, but that he expected the FTC to try and appeal.

Asked whether they would appeal the ruling, FTC General Counsel Willard Tom said, “It’s safe to assume the commission is going to consider its options very seriously. We think there is no reason lawyers should be exempt.”

rex our automated man for red flag compliance reveals what to do if you have a red flag in your dealership

* The Program should explain how to respond to red flags.

If dealership employees have concerns because of one or more indicators of potential identity theft, what should their response be? Quite clearly, common sense should take over and employees should do more to ensure that they’re not dealing with an identity thief.

The first step is to engage the customer to get more information that explains any discrepancy, such as a utility bill to explain a difference in address. If dealership personnel are still concerned that they might be dealing with an identity thief, then the obvious response is to slow down the deal and get sufficient information to make a reasoned decision whether to do the deal at all.

If the deal is done and the dealership later learns that it dealt with an identity thief, then it must ask itself whether it should contact the correct person. And should it notify law enforcement? And should it contact the assignee of the finance contract to stop collection efforts? The program must detail methods to prevent and mitigate identity theft.

rex our automated man for red flag compliance reveals FTC list of identity theft protection laws

Federal Laws

State Laws
Credit Credit Freeze
Criminal Credit Information Blocking
Privacy and Information Security Criminal
Social Security Numbers

rex our automated man for red flag compliance asks the question: would president obama fail the red flag rules identity verification test ???

OBAMA Would Get Red Flagged In Identity Fraud

On November 1, millions of small businesses will be required to comply with the Red Flags Rule. 

The law requires that businesses and other organizations authenticate the identity of the person with whom they are doing business. The purpose is to stop identity theft and fraud. Under the new law, Obama’s reluctance to present a birth certificate is consistent with a red flag.

Is this another example of the government asking Americans to do something it will not do? For example, federal, state and local government agencies tell us to protect our Social Security Number, a key identifier used to commit identity theft and fraud. Yet, hundreds of units of local government provide online access to hundreds of millions of documents that contain Social Security Numbers, financial account numbers and other sensitive information. A financial institution that placed any one of these same records online, with or without a Social Security Number, would be subject to a $1,000,000 penalty and its management could face up to 10 years in prison under the Financial Modernization Act of 1999.

The Red Flags Rule provides over 25 examples of red flags that organizations should consider when establishing or continuing a business relationship. Red flags are indicators of potential identity theft or fraud under the Red Flags Rule. Several red flags relate to the Obama birth certificate controversy. Five relate to suspicious documents including those that have been altered, forged or that are inconsistent with other available information. Another, Number 16 states:

“The person opening the covered account or the customer fails to provide all required personal identifying information on an application or in response to notification that the application is incomplete.

http://aconservativeedge.com/2009/08/01/obama-would-get-red-flagged-in-identity-fraud/

rex our automated man for red flag compliance reveals ftc publications available for free download regarding the ftc red flag rules

Posted: October 4th, 2009
Categories: american express / visa red flag rules violation, attorney lobby unhappy with the red flag rules, automated red flag rex makes it simple for you, bank of america / fia card services red flag violation, card holder agreements NEVER supercede the red flag rules, cpa lobby unhappy with the red flag rules, do you feel lucky ???, federal trade commission red flag rules faq's, identity theft account takeover and the red flag rules, obamaspeak, private automated dealer education, red flag rules are not rocket science, red flag rules deadline countdown, retainer agreements NEVER supercede the red flag rules, rex runs the automated red flag news wire, rex the automated man gives amazing red flag service, rex the automated man makes red flag rules razor sharp, visa / american express red flag rules violation
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rex our automated man for red flag compliance asks the question: is ken lewis / bank of america out of red flag compliance or simply out of control ???

SEC going to court over Merrill settlement
Photo: Buck Ennis

SEC going to court over Merrill settlement

The government has decided to go to trial against Bank of America Corp. a week after a judge’s stinging rejection of its proposed $33 million civil settlement with the bank involving bonuses at Merrill Lynch.

The Securities and Exchange Commission said Monday it will “vigorously pursue” its case against one of the biggest U.S. banks, which …

BofA to pay $425M to gov’t over risky assets

Bank of America has reached an agreement to pay the government $425 million to end a loss-sharing arrangement involving risky assets from the company’s takeover of Merrill Lynch.

The fee is being paid to the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp.

Bank of America is paying the fee to get out …

FBI, Justice Dept. probe BofA’s Merrill deal

The FBI and Department of Justice are conducting a criminal probe into Bank of America Corp.’s purchase of Merrill Lynch last year, the Charlotte Observer reports.

The investigation has been under way for six months, the newspaper reported on its Web site.

A BofA spokesman declined to confirm whether the FBI or Justice Department …

Ex-Merrill CEO wishes he'd decorated with Ikea
Photo: Buck Ennis

Ex-Merrill CEO wishes he’d decorated with Ikea

By Michelisa Lanche, InvestmentNews.comFormer Merrill Lynch & Co. Inc. Chief Executive John Thain — whose ouster came shortly after it was learned he spent $1.2 million to refurnish his office — has admitted that the egregious expenditure “was a mistake,” Bloomberg News reported today.

“We decorated it in the style that Merrill Lynch offices were, …

Cuomo preparing charges against BofA
Photo: Buck Ennis

Cuomo preparing charges against BofA

The New York Attorney General’s office is preparing charges against several high-ranking Bank of America executives over the bank’s alleged failure to disclose details about its acquisition of Merrill Lynch, according to a person familiar with the investigation.

Attorney General Andrew Cuomo’s office is likely to file civil charges against …

Former Merrill dealmaker to lead BofA global banking
Photo: Buck Ennis

Former Merrill dealmaker to lead BofA global banking

Bank of America has named Andrea Orcel, one of the bank’s top remaining Merrill Lynch holdovers, as its executive chairman, Global Banking & Markets.

Mr. Orcel will be responsible for strategy and working with other major corporations, along with investors and governments around the world. He’ll remain in London, and report to Thomas Montag, …

SEC calls BoA settlement ‘fair, reasonable’

The federal government says its proposed settlement with Bank of America for misleading shareholders about bonuses for executives paid by Merrill Lynch is fair, reasonable and adequate.

The Securities and Exchange Commission affirmed in a legal filing its defense of the proposed $33 million settlement over the bonus affair, which arose …

Bank of America names head of consumer policy
Photo: Buck Ennis

Bank of America names head of consumer policy

Bank of America Corp. said Wednesday it named Andrew Plepler, who formerly led its charitable foundation, to the newly created position of consumer policy executive.

In the new role, the bank said Mr. Plepler will work with the company’s core consumer business lines to create policies and make decisions to meet customer needs. Mr. Plepler …

Cuomo asks BofA for more details on Merrill deal

Bank of America Corp. and the New York Attorney General’s office are sparring again over the bank’s acquisition of Merrill Lynch & Co.

Attorney General Andrew Cuomo’s office asked Bank of America to provide details by Monday about why it didn’t disclose certain information to shareholders ahead of the acquisition that closed Jan. 1. …

Sallie tests mettle at Merrill
Photo: Bloomberg News

Sallie tests mettle at MerrillSUB – Digital Subscription required

Sallie Krawcheck (pictured) is reaching out to Merrill Lynch’s old guard as she takes control of the firm’s pres-tigious army of retail brokers, in a move to defuse complaints that accompanied her hiring earlier this month.

Ex-Citigroup senior official Ms. Krawcheck has met with former Merrill chief executives Daniel Tully and …

rex our automated man for red flag compliance asks the question: does ken lewis / bank of america really have a black heart ???

Bank of America

Draws Fire for Pulling

U.S. Flags From Property

When a South Carolina woman tried to

honor her next door neighbor, a Marine

who was recently in Afghanistan, by

planting flags along the route the casket

would follow, a Bank of America branch

manager pulled the flags from the bank’s

property, citing “corporate policy.”

FOXNews.com

With a name like Bank of America, it was particularly surprising when a branch manager in South Carolina ordered the removal of a U.S. flag honoring a fallen soldier from the bank’s property.

Brenda Earls of Gaffney, S.C., tried to honor her next-door neighbor, Marine Lance Cpl. Christopher Fowlkes, who was recently killed by a roadside bomb in Afghanistan, by planting flags along the route the casket would follow. But a Bank of America branch manager pulled the flags from the bank’s property, citing “corporate policy.”

Bank of America, which has received $45 billion in federal loans as part of the government rescue of the financial industry, apologized for the incident, calling it a “terrible mistake.”

“We want to ensure the community knows how deeply proud we are of the men and women who have sacrificed so much in service to our country,” the bank said in a written statement. “The bank does fly the American flag at our locations throughout the country and flags were displayed in front of our banking center in Gaffney the evening prior to our dedicated Marine returning home. We deeply apologize for any misunderstandings.”

But customers already have begun canceling their accounts in protest.

Earls and Cherokee County Council closed its account, costing the bank reportedly $500,000. If all city officials follow suit, it will cost the bank $1.5 million in deposits.

Earls said the bank’s apology was misdirected.

“I think who needs the apology is not me (or) the community, but the family and this young solider who gave his life for us so we all have these freedoms,” she told FOX News. “We need to say we’re sorry for this young man who gave his life that someone would understand a policy that they could not fly the American flag yet they would send our young people to fight over there in a war.”

Earls said she watched Fowlkes, 20, grow up in her neighborhood. Planting the flags, she said, was the least she could do to honor him.

But when she placed one on Bank of America’s property, a branch manager ran out of the bank and told her she couldn’t do it, she said

“You mean the American flags?” Earls recalled responding.

The manager said policy prohibits the bank from flying any flag, including the American flag.

Earls said the manager told her that the flags might offend some customers.

“The American flags?” Earl recalled saying in utter disbelief.

“This is a financial institution and this is our policy,” Earls recalled the manager saying.

While Earls expressed relief that the bank is now flying the American flag, she added, “That one moment in time when they took them down is a sad moment in America.”

Larry Di Rita, a spokesman for Bank of America, told FOX News that the incident was a “mistake” that was quickly rectified.

“We apologized to the people involved,” he said.

But Di Rita wouldn’t say whether the bank has offered apologies to the Fowlkes family.

“We’re going to respect the family’s privacy and I’m not going to discuss that. Our condolences are to the family and the community of Gaffney. ”

Di Rita added that the incident doesn’t reflect any policy of Bank of America.

“The fact is we encourage branches to fly the American flag,” he said. “We have over 6,000 branches across the country and they do.”

rex our automated man for red flag compliance reveals possible fbi criminal investigation of ken lewis / bank of america for failing to make required disclosures

Paper says

FBI looking at

Bank of America

CHARLOTTE, N.C. – The FBI and Department of Justice are conducting a criminal probe into Bank of America Corp.’s purchase of Merrill Lynch last year, the Charlotte Observer reported yesterday.

The investigation has been under way for six months, the newspaper reported.

A Bank of America spokesman declined to confirm whether the FBI or Justice Department were investigating. Spokesmen for the FBI and Justice Department neither confirmed nor denied that a probe was underway.

“We have provided thousands of documents and had numerous meetings with various government agencies regarding the Merrill Lynch transaction,’’ Bank of America spokesman Scott Silvestri said.

“And we continue to believe that there is no basis for charges against the company or individuals on the management team.’’

Jennifer Canada, a spokeswoman for North Carolina Attorney General Roy Cooper, said the state still has an ongoing investigation into Bank of American but that she wasn’t aware of any other probes.

Posted: September 24th, 2009
Categories: american express / visa red flag rules violation, attorney lobby unhappy with the red flag rules, bank of america / fia card services red flag violation, becoming a red flag rules automated man made simple, card holder agreements NEVER supercede the red flag rules, cpa lobby unhappy with the red flag rules, federal trade commission red flag rules faq's, obamaspeak, red flag rules are not rocket science, retainer agreements NEVER supercede the red flag rules, rex runs the automated red flag news wire, rex the automated man makes red flag rules razor sharp, visa / american express red flag rules violation
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