Editor's Note -
A New Argument for Financial Regulatory Reform. Over the past several weeks, there has been a steady stream of pessimistic views on the prospects for meaningful financial regulatory reform. Senate Banking...more
4/6/2017
/ Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debt Collection ,
Dodd-Frank ,
Exploitation ,
Expressions Hair Design v Schneiderman ,
Federal Trade Commission (FTC) ,
First Amendment ,
Free Speech ,
Mortgage Rules ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Student Loans
Editor's Note -
In This Issue. The Securities and Exchange Commission (SEC) was active this week, moving to shorten the settlement cycle for broker-dealer transactions from T+3 to T+2 and issuing updated guidance...more
Editor's Note -
The Return of Glass-Steagall? On March 13, Federal Deposit Insurance Corporation Vice Chairman Thomas M. Hoenig made a speech to the Institute of International Bankers Annual Washington Conference...more
3/16/2017
/ Comptroller ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Debt Relief ,
Electronic Fund Transfer Act ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
FinTech ,
Loans ,
NYDFS ,
OCC ,
Prepaid Payment Products ,
Regulation Z ,
Truth in Lending Act (TILA)
Editor's Note -
Marching On. Notwithstanding the industry’s watch of the Senate’s confirmation of new leadership for the Department of Labor (DOL) and the Securities and Exchange Commission (SEC), the DOL proposed a delay...more
3/10/2017
/ Bank Holding Company ,
Custody Rule ,
Department of Labor (DOL) ,
Excessive Fees ,
Federal Trade Commission (FTC) ,
Fiduciary Rule ,
Mergers ,
Mortgages ,
PHH Corp. v CFPB ,
Securities and Exchange Commission (SEC) ,
XBRL Filing Requirements
Editor's Note -
Opposition Emerges to OCC FinTech Charter. In advance of the deadline to submit comments to the Office of the Comptroller of the Currency’s (OCC) paper proposing a federal FinTech charter, the Conference...more
1/26/2017
/ Antitrust Provisions ,
Blockchain ,
CFTC ,
Civil Monetary Penalty ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Hart-Scott-Rodino Act ,
Mortgages ,
NYDFS ,
OCC ,
Proposed Amendments ,
Student Loans ,
Technology ,
Virtual Currency
Editor's Note -
In This Issue.The SEC and FINRA released their examination priorities for 2017; the SEC’s Division of Investment Management issued an interpretative letter that would permit brokers to charge their own...more
1/19/2017
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Bad Actors ,
Brokers ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Card Surcharges ,
Credit Cards ,
Debt Collection ,
Department of Labor (DOL) ,
Examination Priorities ,
Federal Trade Commission (FTC) ,
Fiduciary Rule ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Investment Management ,
Mortgages ,
OCC ,
Payday Loans ,
Rent-a-Tribe ,
Sales Load Variations ,
Securities and Exchange Commission (SEC) ,
Trump Administration
Editor's Note -
OCC to Move Forward with Federal FinTech Charter. In a development foreshadowed in the April 6, June 29 and September 14 editions of the Roundup, on December 2, the Office of the Comptroller of the...more
12/7/2016
/ Bylaws ,
Commodity Trading Advisors (CTAs) ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Governance ,
CPO ,
Cybersecurity ,
Department of Homeland Security (DHS) ,
False Claims Act (FCA) ,
Federal Trade Commission (FTC) ,
Insider Trading ,
Institutional Shareholder Services (ISS) ,
Internet of Things ,
Investment Companies ,
Mortgages ,
NFA ,
NIST ,
Securities and Exchange Commission (SEC) ,
SIFIs ,
US v Newman ,
US v Salman ,
Voting Rights
Editor's Note -
A Possible Blueprint for Financial Regulatory Reform in the Trump Administration. During his campaign, President-elect Trump consistently emphasized that financial regulatory reform is a critical...more
11/18/2016
/ Credit Cards ,
Dodd-Frank ,
Federal Trade Commission (FTC) ,
FFIEC ,
Liquidity ,
Mortgage Lenders ,
Mortgage Servicers ,
No-Action Relief ,
NYDFS ,
Payday Loans ,
Presidential Elections ,
Proxy Access ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Swing Pricing ,
Trump Administration
Editor's Note -
FinTech at the Forefront. FinTech remains at the forefront of Washington’s discussions about how best to regulate financial products and services. As discussed in more detail below, the SEC announced the...more
11/10/2016
/ Consumer Financial Protection Bureau (CFPB) ,
Debt Collectors ,
FDCPA ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
FTC Act ,
Mortgage Servicers ,
OCC ,
Securities and Exchange Commission (SEC) ,
Settlement ,
Tracking Systems
Editor's Note -
Never Satisfied. Despite the Securities and Exchange Commission’s announcement that, in its just completed fiscal year 2016, it filed a record 868 enforcement actions reprimanding misconduct by companies...more
10/20/2016
/ Banking Sector ,
Broker-Dealer ,
Compensation Agreements ,
Consumer Financial Protection Bureau (CFPB) ,
EFTs ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Hart-Scott-Rodino Act ,
Investor Protection ,
Liquidity Risk Management Rule ,
Mandatory Disclosure Rules ,
Mutual Funds ,
Proposed Amendments ,
Securities and Exchange Commission (SEC) ,
Small Entity Compliance Guide ,
Swing Pricing ,
Tandy Letter ,
TILA-RESPA Integrated Disclosure Rule (TRID)
Editor's Note -
Investment Company Institute Publishes FAQ on SEC No-Action Letter Regarding Auditor Independence. On September 23, the Investment Company Institute (ICI) published a memorandum (ICI Memo) responding to...more
9/29/2016
/ CFCs ,
Commodities ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Debt Relief ,
Department of Labor (DOL) ,
Exemptions ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
FinCEN ,
Internal Revenue Code (IRC) ,
Investment Trust Companies ,
IRS ,
Penalties ,
PFIC ,
Private Letter Rulings ,
Proposed Regulation ,
Public Comment ,
Scams ,
Securities and Exchange Commission (SEC) ,
Subpart F ,
Unfair or Deceptive Trade Practices
Editor's Note -
What Exactly Is Bitcoin? In a case featuring a sting operation beginning with meetings in a coffee shop, ice cream store and hotel lobby and ending with the sale of bitcoins to an undercover Miami Beach...more
7/28/2016
/ ACH Payments ,
Amicus Briefs ,
Bitcoin ,
Commerce Clause ,
Consumer Financial Protection Bureau (CFPB) ,
Criminal Prosecution ,
CT Supreme Court ,
Customer Due Diligence (CDD) ,
Debt Collection ,
Dormant Commerce Clause ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Forum Selection ,
FRB ,
HMDA ,
Interstate Commerce ,
MERS ,
Money Laundering ,
Money Transmitter ,
Mortgages ,
NACHA ,
Short-Term Loans ,
Virtual Currency
Regulatory Developments -
Under Review: Deposit Insurance Assessments for Small Banks -
On Jan. 21, the FDIC approved revised proposed rules on risk-based federal deposit insurance assessments for small banks...more
1/28/2016
/ Banking Sector ,
CFTC ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Financial Conduct Authority (FCA) ,
Hart-Scott-Rodino Act ,
OCC ,
Prudential Regulation Authority (PRA) ,
Securities and Exchange Commission (SEC) ,
Swap Execution Facilities ,
UK ,
Whistleblowers