Remote Deposit; Regulation R; the DIF; and ILC's

A report has been published by Celent outlining the seven habits of highly effective remote deposit capture deployers (click here for link).  For more on remote deposit capture, see this prior article on the Iowa Banking Law Blog.

Eight years after the passage of the Gramm-Leach-Bliley Act, the SEC and Federal Reserve adopted rules implementing the bank broker provisions of GLBA.  For an outline of the key provisions of Regulation R click here.  We will have more on this important topic later. 

The FDIC has reported its second quarter financial results for the Deposit Insurance Fund.  THe DIF earned $1.06 billion in the first 6 montyhs of 2007, raising the balance to $51.2 billion. 

Disease management and mail order pharmacy services, according to the Federal Reserve, are "complementary to a financial activity."  Thus, the Federal Reserve approved an application for a de novo industrial loan company whose primary business is selling and underwriting health insurance and who also provides mail order pharmacy services through its subsidiaries.  The ILC will be named ARCUS Financial Bank.  See article by the Banking Law Prof, and the Federal Reserve Release.