AGO News Releases With Topic: Banking

McKenna unveils training materials to empower bank employees to protect vulnerable adults BELLEVUE – It was a story that brought new attention to a growing problem: helpless seniors preyed upon by caregivers, friends, and relatives.

OLYMPIA – The Washington Supreme Court issued a decision today in which justices unanimously agreed with the Washington Attorney General’s Office that the financial privacy provisions of the federal Gramm-Leach-Bliley Act (GLBA) don’t preempt the state Public Records Act. The ruling also clarified that information about individual mortgage borrowers is still protected as intended under federal law due to exemptions set forth under state law.

Washington’s investment fund for several public pension systems will receive $11.7 million from State Street Bank in a settlement agreement announced today by Washington State Treasurer James L. McIntire, the Washington State Investment Board (WSIB) and the Attorney General’s Office.

OLYMPIA – A group of state attorneys general and banking regulators predict a devastating acceleration of foreclosures unless policy makers step up efforts to assist homeowners. The State Foreclosure Prevention Working Group issued a report Wednesday that cited disturbing trends including a rising tide of delinquent mortgages outpacing servicer outreach and loss-mitigation efforts. The report also offered recommendations for action.

 Bipartisan group of legislators join McKenna’s call to get tough on domestic abusers, criminals who exploit children or seniors  OLYMPIA — When shocking crimes are committed by repeat offenders, members of the public often ask elected officials why they didn’t do more to keep those criminals off the streets.

OLYMPIA -- Washington Attorney General Rob McKenna is leading a group of 40 state attorneys general in urging Congress to uphold the role of the states in enforcing consumer protection laws.

OLYMPIA – The National Association of Attorneys General (NAAG), yesterday elected Washington State Attorney General Rob McKenna as its vice president. McKenna will serve in this role through next summer, when he will become president-elect of the organization. He’ll assume the role of NAAG president in 2011.

OLYMPIA – The Washington State Investment Board (WSIB) filed a lawsuit Wednesday to recover more than $100 million in losses related to its purchase of investments from Lehman Brothers Holdings, Inc.

State attorneys general warned federal officials years ago that there would be consequences for paying insufficient attention to meaningful consumer protection, particularly related to predatory lending practices. Only now, with record numbers of mortgages in default and the economy in crisis, do officials in the other Washington seem willing to listen.

SEATTLE – Attorney General Rob McKenna today announced a multistate settlement with ChoicePoint that resolves allegations the company failed to adequately maintain the privacy and security of consumers’ personally identifiable information. The settlement with attorneys general of 43 states and the District of Columbia stems from a 2005 data breach that compromised personal financial records of more than 163,000 consumers, including an estimated 3,000 Washington residents.