"Goldilocks "Banking Updates" Tuesday 3-14-2023
Goldilocks and Seeds of Wisdom
Thank you RJ
RJ: Good morning Dinar Recaps,
Goldilocks posted the following pdf of Iraq Banking Law with comments and a CBI link:
"Based on Decision No. (30) of 2023 of the Board of Directors of this bank.
Approval was obtained to renew the license granted to Al Amwal Company for electronic banking services in accordance with the provisions of Article (7/Second) of the Electronic Payment Services for Funds Regulation No. (3) for the year 2014, provided that its provisions, instructions and controls issued by this bank are adhered to."
"Article 7 Permit application for a representative office
1. The CBI may permit the opening in Iraq of one or more representative offices of a foreign bank, provided such foreign bank is authorized to conduct banking business in the country of its formation."
Goldilocks: The reason why this is so important to Iraq and the World is that it has the ability to BENEFIT FROM FOREIGN EXCHANGE SERVICES.
© Goldilocks
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RJ: Goldilocks posted the following comments and link:
Liquidating Agent for Inter-American Federal Credit Union
4807 Spicewood Springs Road, Suite 5100
Austin, Texas 78759
Even Credit Unions are liquidating. The bottom line is these banks have to be Basel 3 compliant by March the 20th.
If Banks are not compliant, many more will begin to fail. Basel 4 is here.
We will see banking regulators step in to take charge in transitioning Banks to the new digital asset based monetary system, or they will be consolidating with a bigger Bank.
Once this process is over, we will be able to move into and implement a Gold Standard. Stay watchful my friends. It is a Gold Standard that will allow us to go in with higher values on our currency.
© Goldilocks
Liquidation Notice to Creditors of Inter-American Federal Credit Union
https://ncua.gov/newsroom/press-release/2023/inter-american-federal-credit-union-closes/liquidation-notice
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RJ: Goldilocks posted the following amendment to a House Bill and a link:
"On February 27, 2023, the Chairman of the House Financial Services Committee Patrick McHenry (NC-10) introduced the Data Privacy Act of 2023 (the Bill), which would amend the Gramm-Leach-Bliley Act (GLBA) to “modernize[] financial data privacy laws and give[] consumers more control over how their personal information is collected and used[.]”
This is an update to a Discussion Draft of the Bill that Rep. McHenry released in June 2022 ."
New Legislation to Expand Privacy Obligations of Financial Institutions Introduced in Congress
https://www.wilmerhale.com/en/insights/blogs/wilmerhale-privacy-and-cybersecurity-law/20230309-new-legislation-to-expand-privacy-obligations-of-financial-institutions-introduced-in-congress
Goldilocks' Telegram Room
https://t.me/+YU9UrHLxFbszOTJh
Goldilocks on the Seeds of Wisdom Team Website
https://www.seedsofwisdomteam.com/goldilocks
Thank you Dinar Recaps