...Impact of U.S. Federal and State Compliance Laws The U.S. Federal and State Compliance laws are there to protect all the customers’ financial data. ABS Financial Solutions was affected by these laws to ensure everyone’s’ personal data is protected for this reason the company process was to get a strong encryption program that met with regulatory compliance without affecting the productivity of its employees. The new class of encryption would also ensure any type of documents was secured no matter where they were stored. This encryption would make the company compliant with all the U.S. Federal and State laws. The encryption product of choice was the ABS-TXR Mobility Guardian for its ability to meet with regulatory compliance, ease of administration and deployment this will ensure the company’s computers and mobile notebooks are fully integrated with minimal impact to all its employees. It will also allow the company to integrate future devices like PDAs to replace the smartphones. The company requires to make sure the company has the best security equipment possible while maintaining a balanced budget but ensuring they stay competitive with other companies. The company requires to ensure all the information required by the field technicians is available but also secure at all times. Ensuring the customer’s data is secured, it should be the company’s highest priority to ensure they stay compliant with all the U.S. Federal and State laws. Customer’s main priority is to ensure...
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...Impact of U.S. Federal and State Compliance Laws ABS Financial Solutions, a financial service provider for credit unions across the globe, has found it difficult to meet regulatory compliance laws for proper encryption while still enabling their field representatives to work at maximum efficiency. The field representatives rely on Notebook PCs to access email accounts and financial service applications while mobile. These Notebooks deal with sensitive customer information and require enterprise-strength encryption that is also available for use on other mobile devices. U.S. Compliance Laws such as Federal Information Processing Standards (FIPS) 140-2, which sets standards for cryptographic modules to protect a system, affects the given problem by requiring ABS to provide an encryption solution that can be easily implemented and managed. Due to the field representative’s dependency on being readily available to customers, solutions that did not meet ABS needs would cause declines in productivity. On the other hand, solutions that did not also meet the standards set by FIPS could make customer information vulnerable to malicious activity and could ultimately cause loss of integrity and damage customer relations. The ABS solution to the problem was to use a FIPS validated encryption product, ABS-TXR Mobility Guardian. This product met all compliance regulations along with also meeting the company’s request for low user impact and easy implementation and maintenance. ...
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...Lorna Deans Cornerstone Seminar IDS101 Dec 21, 2012 The Impact of Environmental Regulation on Small Businesses Small businesses are critical to the U.S. economy. They create about one-half of all private sector jobs and generate more than half of all revenues. It is critical to take into consideration how regulations and litigation impact small businesses. The biggest impact consideration is the financial impact to a companies’ bottom line (RAND Corporation). The U.S. economy slowly coming out of a recession, small businesses are struggling to overcome imposing environmental regulations from Washington. With record low rates of small business startups, people would argue that these imposing regulations are turning out all positive results. Small businesses unlike their larger business counterparts, cannot afford to hire specialty firms to help them make their way through these regulations. It also takes a lot of time and money to keep up with all the rules imposed on them. Such regulations impose costs on small businesses ranging from capital investments in upgrading current working environments to civil or criminal penalties. An effect of these regulations would be lower hiring projections for the near future. Other effects could be that the U.S. will not see a significant change in the unemployment rates and small businesses will lose out on revenues generated by hiring more employees (Alford). The definition of a small business is one that employs 500 employees...
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...USA PATRIOT Act on Banking Privacy Introduction On September 11, 2001, the United States was attacked by the terrorists and the attack has completely changed the way we live and work. Its impact is so immense that it covers almost every aspect of our life including the privacy protection policy in the banking industry. After the September 11 terrorist attack, the U.S. Congress passed a law, the USA PATRIOT Act that makes it easier for government law enforcement and intelligence agencies to gather and share information related to terror-related investigations and it has changed how the banking industry or financial institutions handle the privacy of their customers’ personal information. The purpose of this research paper is to explore the effects of the USA PATRIOT Act on banking industry’s handling customers’ private personal information. Some Background Information and History of Banking Privacy The USA PATRIOT Act is not an official title of the law. It is the acronym of the very long title of the Act: Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001. It was signed into law by President George W. Bush on October 26, 2001. But, before 2001, do we have any law that provides guidelines for the privacy of banking industry in the United States of America? Surely, there are several laws that are related to the financial institutions and the privacy protection policy of banking...
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...Understanding Regulatory Compliance In the last few years, governments the world over have taken up the job of protecting consumers and companies against poor management of sensitive information. Unfortunately, this has led to a steady stream of confusing laws and regulations coming from all directions. In this column I'll look at these laws, go into depth on a few of them, and discuss how you, as an IT pro charged with making your company compliant, can approach the issue. Laws and Regulations Depending on the industry you're in, your organization may be used to regulations or completely new to them. Late 90s and early 2000s ushered in the era of laws governing information security, privacy, and accountability, thanks to companies like Enron and to the sheer volume of personal and sensitive information stored in and transmitted though vulnerable channels. At the root of most regulations is the importance of protecting the confidentiality, integrity, and availability of information that impacts a corporation and its stakeholders. These laws can be distilled down to their essential goals: Establish and implement controls Maintain, protect, and assess compliance issues Identify and remediate vulnerabilities and deviations Provide reporting that can prove your organization's compliance Taking a look at the laws and regulations having immediate impact on IT pros, to understand what each law is about. Don't assume this list represents all of the laws and regulations that may...
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...government sectors. There has been a steady increase in numbers of cybercrime with its benefits over the traditional crime in the past decades. Cyber criminals are getting smarter and equipped with more resources with every passing days and are becoming bigger threats. Therefore, it is important to scrutinize those cybercrime-related issues as well as to delve into planning a well-thought out countermeasure for both private and government sectors in various aspects for betterment of safer society of the information era. In this paper, Part I addresses how government intervention justifies telling private industry how to set up or improve their cybersecurity with its policies. Part II addresses the impacts on national security due to government regulation by private industry’s compliance. Part I. Government Regulation of Private Sector Cybersecurity Cyber criminals always look for vulnerabilities such as unsecured network to gain backdoor access to attack critical infrastructure or collect...
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...Civil Rights Act of 1866 (http://www.eeoc.gov/laws/other.cfm#cra-1866) Summary of Act's Principle Requirements and Regulations Impacting HR - This law protects the equal right of all persons within the jurisdiction of the United States to make and enforce contracts without respect to race. Governmental Enforcement Agency - Enforced by individuals, not a federal agency Impact on HRM Functions and Policies - This includes all contractual aspects of the employment relationship, such as hiring, discharge, and the terms and conditions of employment. The Supreme Court has held that the statute also prohibits retaliation against persons who complain about race discrimination prohibited by the statute. (http://www.eeoc.gov/laws/other.cfm#cra-1866) Equal Pay Act of 1963 (http://www.eeoc.gov/laws/statutes/epa.cfm) Summary of Act's Principle Requirements and Regulations Impacting HR - Requires that male and female workers receive equal pay for work requiring equal skill, effort and responsibility, and performed under similar working conditions. (http://www.princeton.edu/hr/policies/appendix/a1/1_6/) Governmental Enforcement Agency - EEOC Impact on HRM Functions and Policies - Pay differentials are permitted when they are based on seniority, merit, quantity or quality of production, or a factor other than sex. (http://www.shrm.org/LegalIssues/FederalResources/FederalStatutesRegulationsandGuidanc/Pages/EqualPayActof1963.aspx) Title VII of the Civil Rights Act of 1964, as amended...
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...Civil Rights Act of 1866 (http://www.eeoc.gov/laws/other.cfm#cra-1866) Summary of Act's Principle Requirements and Regulations Impacting HR - This law protects the equal right of all persons within the jurisdiction of the United States to make and enforce contracts without respect to race. Governmental Enforcement Agency - Enforced by individuals, not a federal agency Impact on HRM Functions and Policies - This includes all contractual aspects of the employment relationship, such as hiring, discharge, and the terms and conditions of employment. The Supreme Court has held that the statute also prohibits retaliation against persons who complain about race discrimination prohibited by the statute. (http://www.eeoc.gov/laws/other.cfm#cra-1866) Equal Pay Act of 1963 (http://www.eeoc.gov/laws/statutes/epa.cfm) Summary of Act's Principle Requirements and Regulations Impacting HR - Requires that male and female workers receive equal pay for work requiring equal skill, effort and responsibility, and performed under similar working conditions. (http://www.princeton.edu/hr/policies/appendix/a1/1_6/) Governmental Enforcement Agency - EEOC Impact on HRM Functions and Policies - Pay differentials are permitted when they are based on seniority, merit, quantity or quality of production, or a factor other than sex. (http://www.shrm.org/LegalIssues/FederalResources/FederalStatutesRegulationsandGuidanc/Pages/EqualPayActof1963.aspx) Title VII of the Civil Rights Act of 1964, as amended...
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...Conflicting Federal and State Medical Marijuana Policies: A Threat to Cooperative Federalism Todd Grabarsky* Abstract The legal status of medical marijuana in the United States is something of a paradox. On one hand, federal government has placed a ban on the drug with no exceptions. On the other hand, over one-third of the states have that legalizes the cultivation, distribution, and consumption of the drug for medical purposes. As such, the usage of medical marijuana is an activity that is at the same time proscribed (by the federal government) and encouraged (by state governments through their systems of regulation and taxation). This Article seeks to shed light on this unprecedented nebulous zone of legality in which an activity is both legal and illegal, an issue that one scholar on the subject has deemed “one of the most important federalism disputes in a generation.” The issue has become heightened as two states have legalized marijuana for recreational (non-medical) purposes as a result of recent 2012 Election. This Article examines the issue from a federalism perspective. It begins by arguing that unpredictable enforcement by federal authorities in states that have legalized medical marijuana not only threatens state drug policy, but also the efficacy of federal enforcement. This argument is based on the premise that the federal drug ban exists as a cooperation between the states and the federal government. That the federal government relies on the assistance...
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...Crime victims rights Advocates for victims' rights have long complained that they have been sidelined by a criminal justice system that is focused on the interplay between the state and the defendant. With the enactment of the Victims' Bill of Rights Act of 2008, that is changing. The authors examine the current state of victims' rights, the evolution of the enforcement mechanisms, and the emerging role of the criminal practitioner in regards to these rights. [PUBLICATION ABSTRACT] Advocates for victims' rights have long complained that they have been sidelined by a criminal justice system that is focused on the interplay between the state and the defendant. With the enactment of the Victims' Bill of Rights Act of 2008, that is changing. The authors examine the current state of victims' rights, the evolution of the enforcement mechanisms, and the emerging role of the criminal practitioner in regards to these rights. [PUBLICATION ABSTRACT] You have requested "on-the-fly" machine translation of selected content from our databases. This functionality is provided solely for your convenience and is in no way intended to replace human translation. Show full disclaimer Neither ProQuest nor its licensors make any representations or warranties with respect to the translations. The translations are automatically generated "AS IS" and "AS AVAILABLE" and are not retained in our systems. PROQUEST AND ITS LICENSORS SPECIFICALLY DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING...
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...Data Classification and Privacy: A foundation for compliance Brian Markham, CISA University of Maryland at College Park Office of Information Technology Goals for today: Give you a solid understanding of both Data Classification and Data Privacy with respect to compliance; Link data classification and privacy to ongoing compliance issues; Discuss various best practices, methodologies, and approaches that you can take with you; Do my best to answer any questions you may have on audit related issues regarding these topics. So...who am I? IT Compliance Specialist @ the Office of Information Technology at UMCP Responsible for audit and compliance initiatives within OIT Formerly employed by KPMG LLP and Grant Thornton LLP as an IS Auditor Have worked with many federal, state, and local governments as well as public companies, hospitals, and not-for-profits. Why do we want to be in compliance? No one likes audit findings; Reduces organizational risk; Processes based on best practice and widely adopted standards are more effective than ad-hoc processes; Systems and data are more secure as a result of good internal control practices. What is Data Privacy? Data Privacy - the relationship between technology and the legal right to, or public expectation of privacy in the collection and sharing of data. The U.S. has trailed the E.U. and other countries in data privacy regulations and legislation; Passed Legislation: HIPAA, Gramm-Leach-Bliley, COPPA; Proposed Legislation: Data...
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...RISKS ASSOCIATED WITH OUR INDUSTRY We are Subject to Extensive Government Regulation That Limits or Restricts Our Activities and Could Adversely Impact Our Operations. The Company and the Bank operate in a highly regulated industry and are subject to examination, supervision and comprehensive regulation by various federal and state agencies. Compliance with these regulations is costly and restricts certain activities, including payment of dividends, mergers and acquisitions, investments, interest rates charged for loans and leases, interest rates paid on deposits, locations of banking offices and various other activities and aspects of the Company’s and Bank’s operations. The Company and the Bank are also subject to capital guidelines established by regulators which require maintenance of adequate capital. Many of these regulations are intended to protect depositors, the public and the FDIC’s DIF rather than shareholders. The Sarbanes-Oxley Act of 2002 and the related rules and regulations issued by the SEC and NASDAQ, as well as numerous other regulations, including the Dodd-Frank Act and related amendments, have increased the scope, complexity and cost of corporate governance, reporting and disclosure practices, including the costs of completing the Company’s external audit and maintaining its internal controls. Government regulation greatly affects the business and financial results of all commercial banks and bank holding companies, and increases the cost to the Company...
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...AFFIRMATIVE ACTION IN PUBLIC & PRIVATE PROCUREMENT ENGLISH LAW LaSadia Whitman Abstract Throughout history, there have been many policies and laws that have been passed to make America, a county that will offer a citizenship equal liberty, rights and equal opportunity. In my paper I will discuss the path on how affirmative action was established, and how it is important to public and private procurement. I will use examples of affirmative action from recent discriminating cases. I will show how affirmative action affects federal and subcontractors within the government agencies. I will also talk about how high level manager uses affirmative action within their companies. I will also discuss the path of affirmative action how the changes affect the veterans that have served in the U.S. military. Finally I will discuss how affirmative action has helped changed America for the benefit of the people. “Preferential affirmative action patronizes Americans, blacks, women and others by presuming that they cannot succeed on their own. Preferential affirmative action does not advance civil right in this country” (Alan Keyes). As many decades have past, the question of whether America is place where equal opportunity is available to every citizen of the United States has grown as major debate throughout society. The legal meaning of affirmative action is the employment programs required by the federal statutes and regulations designed to remedy discriminatory practices...
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...regulatory requirements impact the human resource department by establishing laws which not only protect the employee, but the employer as well. For example, The U.S. Equal Employment Opportunity Commission (EEOC) is “responsible for enforcing federal laws that make it illegal to discriminate against a job applicant or an employee because of the person’s race, color, religion, sex (including pregnancy), national origin, age (40 or older), disability or genetic information” (U.S. Equal Employment Opportunity Commission). These laws apply to various types of work related situations including hiring, firing, promotions, harassment, training, wages, and benefits (EEOC). The United States Department of Labor (DOL) “administers and enforces more than 180 federal laws” (United States Department of Labor), which “covers many workplace activities for about 10 million employers and 125 million workers” (United States Department of Labor). Safety requirements fall under the Occupational Safety and Health Act of 1970; this act assures “safe and healthful working conditions for working men and women; by authorizing enforcement of the standards developed under the Act; by assisting and encouraging the States in their efforts to assure safe and healthful working conditions; by providing for research, information, education, and training in the field of occupational safety and health; and for other purposes” (Occupational Safety & Health Administration). The role under these laws ensures all employees...
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...Fourth (a grand-nephew of the first President Washington, six times removed) signed a bill passed by Congress which abolished “The Fed” (the Federal Reserve System). Washington had argued against the system because he said it “promoted inequality by helping concentrate power in the hands of the capitalist elite”. Although agreeing with Washington in principle, a lawsuit was brought by Ichabod Crane, the governor of New York, challenging the dissolution because several years before New York had passed a law requiring The Fed to pay the state a fee equal to 1% of its average currency reserves. If the banking system was abolished New York would lose a valuable revenue stream. MCCULLOCH V MARYLAND Question 1A (15 points): Is the abolition of the Federal Reserve constitutional? Yes, the abolition of the Federal Reserve is constitutional. This is constitutional because he President George Washington the Forth has the...
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