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Daily Archives: April 6, 2009

CRS: Comprehensive National Cybersecurity Initiative: Legal Authorities and Policy Considerations

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Follow up to April 5, 2009 posting Senate Staff Working Draft of Cybersecurity Act of 2009, see this related CRS report: Comprehensive National Cybersecurity Initiative (CNCI): Legal Authorities and Policy Considerations, March 10, 2009

  • “In response to the CNCI and other proposals, questions have emerged regarding: (1) the adequacy of existing legal authorities—statutory or constitutional—for responding to cyber threats; and (2)
    the appropriate roles for the executive and legislative branches in addressing cybersecurity. The new and emerging nature of cyber threats complicates these questions. Although existing statutory provisions might authorize some modest actions, inherent constitutional powers currently provide the most plausible legal basis for many potential executive responses to national security related cyber incidences. Given that cyber threats originate from various sources, it is difficult to determine whether actions to prevent cyber attacks fit within the traditional scope of executive power to conduct war and foreign affairs. Nonetheless, under the Supreme Court jurisprudence, it appears that the President is not prevented from taking action in the cybersecurity arena, at least until Congress takes further action. Regardless, Congress has a
    continuing oversight and appropriations role. In addition, potential government responses could be limited by individuals’ constitutional rights or international laws of war. This report discusses the legal issues and addresses policy considerations related to the CNCI.”

    • Guidance to Financial Institutions on Filing Suspicious Activity Reports Regarding Loan Modification/Foreclosure Rescue Scams

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    FIN-2009-A001 – Issued: April 6, 2009. Subject: Guidance to Financial Institutions on Filing Suspicious Activity Reports regarding Loan Modification/Foreclosure Rescue Scams “The Financial Crimes Enforcement Network (FinCEN) is issuing this advisory to highlight loan modification/foreclosure rescue scams so that financial institutions may better assist law enforcement when filing Suspicious Activity Reports. This guidance is consistent… Continue Reading

    Federal and State Agencies Crack Down on Mortgage Modification and Foreclosure Rescue Scams

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    News release: “The Federal Trade Commission today announced a crackdown on fraud and deception by mortgage modification and home foreclosure rescue companies. The FTC is seeking to halt the proliferation of these mortgage relief scams – which target distressed and vulnerable consumers who are delinquent or facing foreclosure – through increased law enforcement, consumer outreach,… Continue Reading

    CBO – Historical Effective Federal Tax Rates: 1979 to 2006

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    “The following tables update the Congressional Budget Office’s (CBO’s) estimates of historical effective tax rates—that is, households’ tax liability divided by their income—for various income categories.1 These new tables incorporate estimates for an additional calendar year, 2006, for the four largest sources of federal revenues—individual income taxes, social insurance (payroll) taxes, corporate income taxes, and… Continue Reading

    Treasury Department Provides Updated Guidance on Legacy Securities Public-Private Investment Program

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    News release: “s part of an ongoing effort to refine the guidelines and enhance the effectiveness of the Financial Stability Plan programs, the Treasury Department today released additional guidance for potential investors in the securities portion of the Public Private Investment Program (PPIP). The new guidance extends the deadline for application to the program and… Continue Reading

    Ford Completes Debt Restructuring Initiatives

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    News release: “Ford Motor Company announced today the successful completion of debt restructuring initiatives that will reduce Ford’s Automotive debt by $9.9 billion from $25.8 billion at December 31, 2008, and lower Ford’s annual cash interest expense by more than $500 million based on current interest rates…“By substantially reducing our debt, Ford is taking another… Continue Reading

    Treasury IG: Progress Has Been Slow in Implementing Federal Security Configurations on Employee Computers

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    Treasury Inspector General for Tax Administration, Progress Has Been Slow in Implementing Federal Security Configurations on Employee Computers, March 27, 2009, Reference Number: 2009-20-055 “IRS employees use desktop and laptop computers to perform their tax administration duties. Because taxpayers expect the IRS to protect their privacy and personal information, the security of employee computers is… Continue Reading

    Controls Over the FDIC’s Processing of Capital Purchase Program Applications from FDIC-Supervised Institutions

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    FDIC OIG: March 2009, Report No. EVAL-09-004, Controls Over the FDIC’s Processing of Capital Purchase Program Applications from FDIC-Supervised Institutions “As of January 15, 2009, the FDIC had received 1,615 applications from FDIC-supervised institutions requesting almost $34 billion in TARP funding. The FDIC had recommended 408 applications to Treasury for approval, of which 267 had… Continue Reading

    April is Sexual Assault Awareness Month

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    “Sexual assault takes many forms—it is any unwanted sexual contact, including rape, attempted rape, and child sexual abuse. It can affect people of any gender, age, ethnicity, sexual orientation, or ability. According to the National Violence Against Women Survey, 1 in 6 American women has been the victim of rape or attempted rape […there were… Continue Reading