Posts Tagged ‘ financial news ’

Support of California Financial Information Privacy Act from the Obama administration
Great news! The Obama administration just came out in support of the California Financial Information Privacy Act, which the American Banker’s Association was trying to overturn in the US Supreme Court. This was an issue we worked on for many years both as a ballot initiative and as legislation.

This is great news for California and American consumers as it dramatically helps ensure that the strongest financial privacy law in the country not only Continue reading The strongest financial privacy law in the country is a model for our nation

As GM declared bankruptcy yesterday much was being said about this American icon taking this step.

I recently heard on NPR a commentator talking about the derivation of the word bankruptcy. The word comes from the Latin bancus which means bench, and ruptus which means broken. A ‘bank’ originally referred to a bench. Bankers had benches so they could conduct business in markets and fairs – i.e. public places. A broken bench indicated that the bank was no longer able to do business. The Italians coined the phrase Continue reading Bankruptcy – the definition