In This Issue. The Office of the Comptroller of the Currency (OCC) announced that it will reconsider its controversial June 2020 final rule revising its Community Reinvestment Act (CRA) rules, and published its Semiannual...more
5/21/2021
/ Artificial Intelligence ,
Banking Sector ,
Comment Period ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
Digital Assets ,
FDIC ,
Federal Savings Associations ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
Lenders ,
OCC ,
Public Comment ,
Request For Information ,
Risk Management ,
TILA-RESPA Integrated Disclosure Rule (TRID)
In this Issue. The U.S. Department of the Treasury announced that it was opening the application process for the Emergency Capital Investment Program, a new program designed to provide long-term, low-cost equity and...more
3/12/2021
/ Banking Sector ,
Capital Investments ,
Community Development Financial Institution (CDFI) ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Debt Financing ,
Depository Institutions ,
Division of Investment Management ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Gender Identity ,
Lenders ,
Liquidity ,
New Guidance ,
OCC ,
Paycheck Protection Program (PPP) ,
Registered Investment Companies (RICs) ,
Securities and Exchange Commission (SEC) ,
Sexual Orientation Discrimination ,
Small Business ,
U.S. Treasury
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 Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more
11/5/2020
/ Banking Sector ,
Capital Formation ,
Climate Change ,
Confidential Information ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Department of Financial Services ,
Department of Labor (DOL) ,
Derivatives ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
FDCPA ,
FDIC ,
Federal Reserve ,
Fiduciary ,
Fiduciary Duty ,
Final Rules ,
Financial Institutions ,
Financial Records ,
Financial Regulatory Agencies ,
Financial Regulatory Reform ,
Financial Services Industry ,
Initial Public Offering (IPO) ,
Investment Companies ,
Investment Funds ,
Investment Opportunities ,
Investors ,
Lenders ,
Main Street Lending Programs ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Offerings ,
Proposed Rules ,
Public Comment ,
Registered Funds ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Small Business Loans ,
UDAAP
In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more
10/29/2020
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Amended Rules ,
Bank Secrecy Act ,
Banking Sector ,
CFTC ,
Community Development Financial Institution (CDFI) ,
Comptroller ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Depository Institutions ,
Derivatives ,
FDCPA ,
FDIC ,
Federal Reserve ,
FHFA ,
Final Rules ,
Financial Institutions ,
Financial Records ,
Financial Services Industry ,
FinCEN ,
FinTech ,
Forbearance Agreements ,
Insured Depository Institutions ,
Inter-Bank Offered Rates (IBORs) ,
Investors ,
ISDA ,
Military Service Members ,
Mortgages ,
OCC ,
Private Investment Funds ,
Proposed Rules ,
Proxy Statements ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Travel Rule ,
True Lender ,
Truth in Lending Act (TILA)
In the News. The Board of Governors of the Federal Reserve System (Federal Reserve) proposed rules to modernize the regulations that implement the Community Reinvestment Act (CRA); the Conference of State Bank Supervisors...more
9/24/2020
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Anti-Money Laundering ,
Bank Holding Company Act ,
Bank Secrecy Act ,
Banking Sector ,
Blockchain ,
Borrowers ,
CD&I ,
Comment Period ,
Community Reinvestment Act ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
CSBS ,
Cyber Attacks ,
Debt Collection ,
Debtors ,
Depository Institutions ,
Digital Assets ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Governor Newsom ,
Hackers ,
Interpretive Letters ,
Lenders ,
Main Street Lending Programs ,
Money Transmitter ,
New Legislation ,
OCC ,
OCIE ,
Payment Processors ,
Proposed Rules ,
Public Comment ,
Regulation S-K ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Stress Tests ,
Underwriting
In This Issue. The Securities and Exchange Commission (SEC) adopted amendments to its exemptive applications procedures under the Investment Company Act of 1940, as amended (the 1940 Act) and proposed to amend Form 13F to...more
7/16/2020
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Cyber Attacks ,
Cybersecurity ,
FDIC ,
Federal Reserve ,
FFIEC ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
Form 13F ,
Investment Company Act of 1940 ,
Investment Management ,
Joint Statements ,
Libor ,
Mortgage Escrow Account ,
New Guidance ,
OCC ,
OCIE ,
Paycheck Protection Program (PPP) ,
Phishing Scams ,
Popular ,
Proposed Rules ,
Ransomware ,
Reporting Requirements ,
Risk Alert ,
Risk Management ,
Rulemaking Process ,
SBA ,
Securities and Exchange Commission (SEC) ,
Small Dollar Lenders
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 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
In this Issue: Senate Votes to Expand Paycheck Protection Program; FHFA (Finally) Addresses Liquidity Concerns for Mortgage Servicers. Yesterday, the U.S. Senate unanimously passed legislation providing $484 billion in...more
4/24/2020
/ Banking Sector ,
Borrower Protection Programs ,
Borrowers ,
BSA/AML ,
CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Fannie Mae ,
Federal Funding ,
Federal Reserve ,
FHFA ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
Financial Stimulus ,
Freddie Mac ,
HMDA ,
Legislative Agendas ,
Lenders ,
Liquidity ,
Main Street Lending Programs ,
Mortgage Servicers ,
Paycheck Protection Program (PPP) ,
Regulatory Requirements ,
SBA ,
SBA Lending Programs ,
Small Business ,
Startups
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)
In This Issue. The ongoing global outbreak of the coronavirus (COVID-19) continues to grow in scale and scope, creating public health and humanitarian challenges worldwide. Global economies are also being impacted. Federal...more
3/12/2020
/ Banking Sector ,
Banks ,
Business Continuity Plans ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Crisis Management ,
Disclosure Requirements ,
Exemptive Relief ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
Foreign Banks ,
Foreign Investment ,
Infectious Diseases ,
Investment Management ,
New Guidance ,
OCC ,
Proposed Rules ,
Public Health ,
Risk Management ,
Securities and Exchange Commission (SEC)
Editor's Note -
In This Issue. The U.S. Securities and Exchange Commission’s (SEC) Division of Investment Management staff announced plans to seek industry input on custodial practices relating to trading that is not...more
3/21/2019
/ CFTC ,
Disclosure Requirements ,
FDCPA ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Investment Adviser ,
Investment Company Act of 1940 ,
Securities and Exchange Commission (SEC) ,
TCPA ,
UK Brexit
Editor's Note -
Differing Priorities? On June 14, Comptroller of the Currency Joseph M. Otting testified before the Senate Committee on Banking, Housing, and Urban Affairs, addressing his priorities for the Office of the...more
Editor's Note -
Proposed Volcker Rule Amendments Reduce Burden on Community Banks and Banks With Limited Trading Activities. Last week and earlier this week, all five federal financial regulators with jurisdiction over the...more
Editor's Note -
In This Issue. The Consumer Financial Protection Bureau (CFPB) published its Spring 2018 rulemaking agenda; the U.S. Department of Housing and Urban Development (HUD) announced that it will seek public...more