Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (86143)	5/31/2002 6:57:53 AM
From: d:oug	Read Replies (1) \| Respond to of 116822

TheMiningWeb elaborates on AfLease donation to GATA ================================================ Warning Warning Warning Warning Warning Warning Warning ================================================ Click below url for access to this story, but be warned, source is GATA ( Gold Anti-Trust Action gata.org ) a civil rights and educational organization (USA) and contained is a solicitation. Please "Next" now if you find such harmful. groups.yahoo.com

To: d:oug who wrote (86143)	5/31/2002 7:33:41 AM
From: long-gone	Respond to of 116822

Fed's Greenspan: More Bank Fair-Trade Regulations Unneeded Thu May 30, 5:58 PM ET By: Rebecca Christie, Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites) said he saw no need for extra fair-trade regulations for banks, in a letter Thursday to Democrats on the House Financial Services committee. Greenspan was responding to a March 25 letter from U.S. Rep. John LaFalce, D- N.Y. , and ranking member of the committee, asking the Fed for regulations spelling out how the Federal Trade Commission Act applies to banks. Banks are exempt from FTC supervision, but bank regulators are allowed to enforce the law as it applies to financial institutions. "The fact that banks are excluded from the FTC's authority...merely reflects Congress' preference that the banking agencies - not the FTC - are the appropriate enforcing authorities for banks," Greenspan wrote. "Given that the FTC Act's prohibition against unfair or deceptive practices applies to banks as a matter of law, the Board believes that a rulemaking affirming the prohibition's applicability to banks is not required." LaFalce didn't seem disappointed by Greenspan's response, although his initial letter said, "The benefits of regulation are clear." In a response Thursday, LaFalce said he was pleased with the Fed's pronouncement that banks aren't exempt from fair trade rules, and that regulators are prepared to enforce them. "The Board's reluctance to issue broad regulations defining unfair and deceptive practices have flourished, especially with regard to credit cards," LaFalce said. "As a result, a variety of unfair and deceptive practices have flourished, especially with regard to credit cards." Other banking regulators also weighed in on fair trade laws and how they apply to banks. Comptroller of the Currency John Hawke praised both LaFalce and Greenspan for wading into the issue. "I want to congratulate Congressman LaFalce for his leadership in focusing attention on an important issue involving both consumer protection and bank safety and soundness," Hawke said in a statement. "I also want to commend the Federal Reserve and the Federal Deposit Insurance Corporation for confirming the OCC's long-held view that the banking agencies have authority (cont) story.news.yahoo.com