In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more
1/29/2021
/ Anti-Money Laundering ,
Appeals ,
Banking Sector ,
Biden Administration ,
Borrowers ,
Carried Interest ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Debt Relief ,
Debtors ,
Digital Assets ,
Enforcement Actions ,
Fair Access to Credit ,
FDIC ,
Fees ,
Final Report ,
Final Rules ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinCEN ,
Internal Revenue Code (IRC) ,
Lenders ,
Misrepresentation ,
Mortgage Lenders ,
New Rules ,
OCC ,
Popular ,
Public Comment ,
Regulatory Freeze ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Settlement Agreements ,
Student Loans ,
Supervisory Guidance ,
Suspicious Activity Reports (SARs) ,
Unlawful Practices ,
Unregistered Securities ,
Virtual Currency
In this Issue. The Securities and Exchange Commission (SEC) finalized reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors, and published a risk...more
1/7/2021
/ Advisory Opinions ,
Appeals ,
Banking Sector ,
Broker-Dealer ,
Cash Solicitation Rule ,
Community Reinvestment Act ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Interim Final Rules (IFR) ,
Interpretive Letters ,
Investment Adviser ,
Lenders ,
OCC ,
OCIE ,
Paycheck Protection Program (PPP) ,
Popular ,
Preemption ,
Proposed Rules ,
Recordkeeping Requirements ,
Regulation Z ,
Relief Measures ,
Reporting Requirements ,
Risk Alert ,
Safe Harbors ,
SAR ,
SEC Advertising Rule ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Violations ,
Special Purpose Entities
In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more
11/12/2020
/ Banking Sector ,
Banks ,
Blockchain ,
Board of Directors ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Debt Settlement Services ,
Disclosure ,
Diversity ,
Enforcement Actions ,
FDCPA ,
FDIC ,
Federal Bank Regulatory Agencies ,
Federal Reserve ,
Final Rules ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinCEN ,
Geographic Targeting Order ,
Interest Rates ,
Joint Statements ,
Libor ,
Loans ,
New Guidance ,
New Rules ,
No-Action Letters ,
OCC ,
Payday Loans ,
PayPal ,
Publicly-Traded Companies ,
Real Estate Transactions ,
Shareholders ,
Small Dollar Lenders ,
Student Loans ,
Telemarketing Sales Rule ,
Title Insurance
In This Issue. The Securities and Exchange Commission (SEC) finalized amendments to its proxy solicitation rules that will modify the practices of proxy advisory firms, providing them with greater transparency and...more
8/3/2020
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Alternative Reference Rates Committee (ARRC) ,
Banking Sector ,
Banks ,
Borrowers ,
Broker-Dealer ,
CFTC ,
Confidential Supervisory Information ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Discrimination ,
Criminal Records ,
Cross-Border ,
Cryptocurrency ,
Disclosure Requirements ,
Dodd-Frank ,
Emergency Lending ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Records ,
Financial Services Industry ,
FinTech ,
FOIA ,
Form CRS ,
Freedom of Information ,
Lenders ,
Liquidation ,
Loan Applications ,
Loan Forgiveness ,
OCC ,
Paycheck Protection Program (PPP) ,
Proxy Advisory Firms ,
Proxy Season ,
Proxy Solicitations ,
Proxy Voting ,
SBA ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC) ,
Swaps ,
Virtual Currency
In This Issue. The Office of the Comptroller of the Currency (OCC) proposed a rule that would establish that a national bank or federal savings association is the “true lender” of a loan if, as of the date of origination, the...more
7/23/2020
/ Banking Sector ,
Board of Directors ,
Board of Governors ,
Comment Period ,
Consumer Complaint Database ,
Consumer Financial Protection Bureau (CFPB) ,
Court of Justice of the European Union (CJEU) ,
Data Privacy ,
Data Protection ,
Digital Assets ,
Enforcement Actions ,
EU ,
EU-US Privacy Shield ,
FDIC ,
Federal Reserve ,
Federal Savings Associations ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Interim Final Rules (IFR) ,
International Data Transfers ,
Lenders ,
Loan Agreements ,
Main Street Lending Programs ,
Nonprofits ,
OCC ,
Paycheck Protection Program (PPP) ,
Personal Data ,
Proposed Rules ,
Public Comment ,
Regulation Z ,
Request For Information
In This Issue. The Office of the Comptroller of the Currency (OCC) released an advanced notice of proposed rulemaking seeking comments on several issues related to digital technology and innovation, as well as proposed...more
6/12/2020
/ Acquisitions ,
Advanced Notice of Proposed Rulemaking (ANPRM) ,
Amended Rules ,
Banking Sector ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
E-Signatures ,
Enforcement Actions ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Reporting ,
Financial Services Industry ,
Innovation ,
Libor ,
Main Street Lending Programs ,
OCC ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payday Loans ,
Public Comment ,
Restraining Orders ,
Securities and Exchange Commission (SEC) ,
Term Asset-Backed Securities Loan Facility (TALF)
In This Issue. The Office of the Comptroller of the Currency (OCC) finalized a rule to strengthen and modernize regulations under the Community Reinvestment Act; the Securities and Exchange Commission (SEC) voted to adopt...more
5/21/2020
/ Amended Rules ,
Banking Sector ,
Broker-Dealer ,
CARES Act ,
Comment Period ,
Community Reinvestment Act ,
Consolidated Audit Trail ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
CSBS ,
Enforcement Actions ,
False Claims Act (FCA) ,
FCC ,
Federal Reserve ,
FHFA ,
Filing Deadlines ,
Financial Services Industry ,
Forbearance Agreements ,
Form CRS ,
Homeowners ,
Interim Final Rules (IFR) ,
Investment Adviser ,
Loan Forgiveness ,
Mortgages ,
National Market System (NMS) ,
New Rules ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Paycheck Protection Program (PPP) ,
Public Comment ,
Qui Tam ,
Regulation Best Interest ,
Regulation D ,
Relief Measures ,
Robocalling ,
SBA ,
Securities and Exchange Commission (SEC) ,
Time-Barred Debt ,
Transparency
In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to non-bank lenders and expanded the collateral eligible to...more
5/7/2020
/ Banking Regulators ,
Banking Sector ,
Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Enforcement Actions ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
Forbearance Agreements ,
Foreclosure ,
Lenders ,
Liquidity Coverage Ratio ,
Loan Forgiveness ,
Main Street Lending Programs ,
Money Market Mutual Fund Liquidity Facility (MMLF) ,
Mortgage Lenders ,
Mortgages ,
Nasdaq ,
New Guidance ,
Non-Bank Lenders ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Lending Facility (PPPL Facility) ,
Price Gouging ,
Risk Management ,
SBA ,
Securities and Exchange Commission (SEC) ,
Shareholder Approval
Paycheck Protection Problems. In last week’s Roundup, we discussed the initial guidance issued by the U.S. Department of the Treasury (Treasury) and the Small Business Administration (SBA) on the implementation of the...more
4/10/2020
/ Banking Sector ,
Broker-Dealer ,
CARES Act ,
Coronavirus/COVID-19 ,
Enforcement Actions ,
Federal Loans ,
Federal Reserve ,
Financial Services Industry ,
Financial Stimulus ,
Form CRS ,
Interim Final Rules (IFR) ,
Investment Adviser ,
Investment Management ,
Lenders ,
OCIE ,
Paycheck Protection Program (PPP) ,
Regulation Best Interest ,
Regulatory Requirements ,
Relief Measures ,
Risk Alert ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
U.S. Treasury
In This Issue. Federal and state regulators continued to take action in the wake of the ongoing global outbreak of the coronavirus (COVID-19). As discussed in several Goodwin client alerts, Congress passed, and the President...more
4/6/2020
/ Banking Sector ,
CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Data Collection ,
Enforcement Actions ,
Executive Orders ,
Federal Reserve ,
Financial Services Industry ,
Financial Stimulus ,
Governor Baker ,
Paycheck Protection Program (PPP) ,
Public Health ,
Publicly-Traded Companies ,
Relief Measures ,
Remote Working ,
SBA ,
Shareholder Meetings ,
U.S. Treasury ,
Virtual Meetings
In This Issue. In response to the ongoing global outbreak of the coronavirus (COVID-19), federal financial regulators continue to take aggressive actions to promote stability to the financial markets. The Board of Governors...more
3/27/2020
/ Banking Sector ,
Coronavirus/COVID-19 ,
Enforcement Actions ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Investment Companies ,
Investment Management ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC)
Editor's Note -
No Rest for the Regulators. While many in the financial services industry used the last few weeks of August to enjoy additional time with family and friends before the back-to-school crunch, federal...more
9/13/2018
/ Bank Holding Company ,
Banking Sector ,
Class Action ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Currency ,
Enforcement Actions ,
Filing Fees ,
FinCEN ,
HMDA ,
Interest Rates ,
Liquidity Coverage Ratio ,
Mortgages ,
OCC ,
Securities and Exchange Commission (SEC) ,
Summary Judgment ,
Volcker Rule