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Daily Archives: April 5, 2011

Federal Reserve Payments Study Provides Details on Increasing Role of Electronic Payments

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News release: “The 2010 Federal Reserve Payments Study released today reveals in greater detail increasing adoption of electronic alternatives for payments in the United States by consumers, businesses and governments. The study examined payments made between 2006 and 2009. In December, the Federal Reserve released a summary of the study’s findings that highlighted trends related to the use of payment cards and electronification of check processing. Debit card usage now exceeds all other forms of noncash payments and represents approximately 35 percent of total noncash payments. Much of the growth in debit card payments was due to increases in purchases for small dollar amounts; for example, the report reveals that 64 percent of all signature debit card transactions are now for amounts under $25. General purpose credit cards, with 44 percent being under $25, are also used for small dollar purchases. Study results showed that card usage varied by dollar amount. Nearly 50 percent of all card payments under $15 are made with signature debit cards, while 41 percent of all card payments over $25 are made with general purpose credit cards.

  • “The study reveals that we continue to experience extraordinary changes in the utilization of payment instruments as this nation’s propensity for all things electronic continues to grow,” notes Richard Oliver, executive vice president of the Federal Reserve Bank of Atlanta, which sponsored the study. Today’s report also reveals a number of details about check usage. The report notes that during the 2009 calendar year, remittance checks—those written to pay bills—comprised over half of all checks written. A detailed report of the individual studies comprising the 2010 Federal Reserve Payments Study is available at www.frbservices.org. The final study updates the figures for checks written that were presented in summary report published in December 2010.”

    • EPA Announces Updated Energy Star Standards for Lighting

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    News release: “The U.S. Environmental Protection Agency (EPA) is announcing updated standards for light fixtures to qualify for the Energy Star label – an efficiency program that has saved consumers money on their energy bills while contributing to cleaner air and protecting people’s health since 1992. Effective October 1, 2011, to qualify for the Energy… Continue Reading

    New GAO Reports: Military Treatment Facilities on Guam, Human Services Programs, Medicaid and CHIPS, State Dept. IG

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    Defense Infrastructure: The Navy Needs Better Documentation to Support Its Proposed Military Treatment Facilities on Guam, GAO-11-206, Apr 5, 2011 Human Services Programs: Opportunities to Reduce Inefficiencies, GAO-11-531T, Apr 5, 2011 Medicaid and CHIP: Reports for Monitoring Children’s Health Care Services Need Improvement, GAO-11-293R, Apr 5, 2011 – Medicaid and the Children’s Health Insurance Program… Continue Reading

    New Tax Issues Arising from the Dodd-Frank Act and Related Changes to Market Practice for Derivatives

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    Nijenhuis, Erika, New Tax Issues Arising from the Dodd-Frank Act and Related Changes to Market Practice for Derivatives (January 6, 2011). Columbia Journal of Tax Law, Vol. 2, No. 1, 2011. Available at SSRN: http://ssrn.com/abstract=1611212 “The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) requires that most over-the-counter derivatives be cleared through a clearinghouse… Continue Reading

    Internal Revenue Service Data Book, 2010

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    Internal Revenue Service Data Book, 2010 “During the fiscal year, IRS employees processed 230 million returns, including individual income, corporation income, and employment income tax returns. We provided $467 billion in refunds to these taxpayers and collected $2.3 trillion for the Federal government, provided taxpayer assistance through 305 million visits to IRS.gov, and assisted more… Continue Reading

    Symantec Internet Security Threat Report: Trends for 2010

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    Symantec Internet Security Threat Report Trends for 2010, Volume 16, Published April 2011 “Spam and phishing data is captured through a variety of sources, including the Symantec Probe Network, a system of more than 5 million decoy accounts; MessageLabs™ Intelligence, a respected source of data and analysis for messaging security issues, trends and statistics; as… Continue Reading

    United States Government Manual Online: The Official Handbook of the Federal Government

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    “The United States Government Manual is the official handbook of the Federal Government. This currently updated edition of the Government Manual provides comprehensive and authoritative information on the legislative, judicial, and executive branches. It also includes information on quasi-official agencies, international organizations with U.S. membership, and Federal boards, commissions, and committees. Agency descriptions typically include:… Continue Reading

    World Bank eAtlas of Global Development

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    “The World Bank eAtlas of Global Development maps and graphs more than 175 thematically organized indicators for over 200 countries, letting you visualize and compare progress on the most important development challenges facing our world. Most indicators cover several decades, so you can see, for example, how “life expectancy at birth” has improved from 1960… Continue Reading

    Advice for the U.S. Sentencing Commissioners: The Relevance of Therapeutic Jurisprudence and Its Literature

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    “This short essay will be part of an issue of the Federal Sentencing Reporter devoted to recommended action for the U.S. Sentencing Commission. The present essay calls attention to the relevance of therapeutic jurisprudence to the sentencing function. It looks at some legal rules and guidelines that do not effectively motivate convicted persons to focus… Continue Reading