US inspired by Aadhaar: Lawmakers believe biometrics better option than social security number

Amid reports of massive breach of social security numbers along with identity theft, US lawmakers, encouraged by India's Aadhaar, explored the possibility of biometrics as an option, but privacy issues prevented experts from arriving at a consensus. In the US, a Social Security Number is a nine-digit number issued to American citizens, permanent residents and temporary working residents.

Fannie Mae advocacy ban doesn’t stop lawyer from pushing views

For nearly a decade, a top housing regulator has restricted Fannie Mae and Freddie Mac from trying to influence the raging debate over whether they should live or die. But despite those limits, a top Fannie Mae executive has done just that over the past few months, quietly meeting with people inside and outside President Donald Trump's administration, according to people familiar with the matter.

Financial Services Weekly News – May 2018 #3

In This Issue. The Consumer Financial Protection Bureau published its Spring 2018 rulemaking agenda; the U.S. Department of Housing and Urban Development announced that it will seek public comments on whether its 2013 Disparate Impact Regulation is consistent with the 2015 U.S. Supreme Court ruling in Texas Department of Housing and Community Affairs v.

Trump’s pick to run Labor’s pension agency: Mitch McConnell’s brother-in-law

That might be welcome news for Trump voters who want the president to fulfill a promise to "drain the swamp" and rid the capital of the politically connected. Yet his nominee, Gordon Hartogensis, is well known to some of Washington's most politically influential: He is the brother-in-law of Senate Majority Leader Mitch McConnell and his wife, Transportation Secretary Elaine Chao.

Berry, Morphis flesh out their stances in District 68 race

A few months after announcing their intentions to run for an open state House seat in a district near Russellville, two Republicans facing each other in the primary have better formed their messages for the voters. When the campaign began in early February, neither candidate offered a clear idea of what each wanted to accomplish if elected to succeed outgoing state Rep. Trevor Drown, R-Dover.

Royal Bank of Scotland tentatively settles US$4.9b claim

Royal Bank of Scotland, RBS, said on Thursday it has agreed to pay US$4.9 billion to settle US claims that it misled investors who bought securities backed by risky mortgages in the run-up to the 2008 financial crisis. The tentative settlement with the US Department of Justice marks a watershed moment for RBS, which was bailed out by British taxpayers after a series of acquisitions briefly made it the largest bank in the world before it collapsed a decade ago.

UPDATE 1-‘Humbling’ U.S. settlement clears crisis-era hangover for RBS

Shares in Royal Bank of Scotland rose as much as 6 percent on Thursday after it secured a far lower than expected settlement with U.S. authorities, paving the way for a long-awaited return of cash to British taxpayers who provided support during the financial crisis. The $4.9 billion fine resolves a U.S. Department of Justice investigation into the bank's sale of mis-priced mortgage-backed securities before the financial crisis and clears one of the most debilitating hangovers for the bank from that era.

Royal Bank of Scotland tentatively settles US claims

Royal Bank of Scotland said Thursday it has agreed to pay $4.9 billion to settle U.S. claims that it misled investors who bought securities backed by risky mortgages in the run up to the 2008 financial crisis. The tentative settlement with the U.S. Department of Justice marks a watershed moment for RBS, which was bailed out by British taxpayers after a series of acquisitions briefly made it the largest bank in the world before it collapsed a decade ago.

RBS agrees to pay $4.9 billion to settle U.S. mortgage probe

Royal Bank of Scotland said it reached a tentative agreement to pay a $4.9 billion penalty to resolve a long-running U.S. probe into its packaging and sale of mortgage-backed securities before the 2008 financial crisis. While most of the cost will be covered by money the company already set aside, the deal will cut second-quarter earnings by $1.44 billion, the bank said in an emailed statement.

UPDATE 2-HSBC boosts investments in growth push, unveils $2 bln share buyback

Europe's biggest bank by assets said that this would likely be the only share buyback this year, as CEO John Flint looks to invest instead in the bank's twin homes of Britain and China in a bid to boost returns. The bank's shares fell 2.5 percent in London by 0750 GMT, in a sign of immediate investor scepticism that the bank's new investments will pay off after years spent focusing on cutting unprofitable parts of the business.

Alabama Storm Survivors Should Register for Disaster Assistance

Homeowners, renters and business owners in Calhoun, Cullman and Etowah counties affected by the March 19-20 severe storms and tornadoes are urged to register with the Federal Emergency Management Agency, for federal disaster assistance. Assistance available to eligible individuals and businesses who sustained damages during those storms.

Paul Ryan: Entitlement reform is the policy goal that ‘got away’

Speaker Paul Ryan said the reforms, which have passed in GOP-authored budgets over the years, have never cleared the Senate and faced opposition by former President Barack Obama. House Speaker Paul Ryan said he decided to retire in part because he was able to accomplish many of his top goals, including a massive overhaul of the tax code.