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
Editor's Note -
In This Issue. The New York Department of Financial Services issued its highly anticipated cybersecurity regulation in its final form, the Securities and Exchange Commission (SEC) issued updated guidance...more
3/3/2017
/ Bitcoin ,
Consent Order ,
Cybersecurity ,
Debt Collection ,
Enforcement Actions ,
FDCPA ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
FTC Act ,
Investment Adviser ,
Margin Requirements ,
NYDFS ,
OCC ,
OCIE ,
Robo-Advisors ,
Securities and Exchange Commission (SEC) ,
Student Loans ,
TCPA
Editor's Note -
Potential CFPB Reform in the Wake of the Election. The November 16 edition of the Roundup indicated that the Financial CHOICE Act (Act) may be a blueprint for legal changes affecting the financial...more
11/30/2016
/ C&DIs ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Controlling Stockholders ,
Debt Collection ,
Department of Labor (DOL) ,
Energy Futures Holdings ,
Enforcement Actions ,
FCC ,
Financial Institutions ,
Fixing America’s Surface Transportation Act (FAST Act) ,
Institutional Shareholder Services (ISS) ,
Lead Paint ,
Loans ,
Minimum Salary ,
Over-Time ,
Preliminary Injunctions ,
Private Offerings ,
Rule 506 Offerings ,
Securities and Exchange Commission (SEC) ,
TCPA ,
Text Messages ,
Wage and Hour
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 -
Friend the Fed! As is the case every August, our federal government and regulators are hard at work, laser focused on the important issues of the day. In this regard, on August 18, the Federal Reserve...more
8/25/2016
/ Ability-to-Repay ,
Banks ,
Confidentiality Agreements ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Facebook ,
Fair Credit Reporting Act (FCRA) ,
Fannie Mae ,
FDIC ,
Federal Reserve ,
Freddie Mac ,
HMDA ,
Loans ,
Mortgages ,
OCC ,
Securities and Exchange Commission (SEC) ,
Student Loans ,
Whistleblowers
Editor's Note -
MetLife Fights On. MetLife continued to fight its designation as a nonbank systemically important financial institution (SIFI) this week as the insurer filed its reply brief in the Financial Stability...more
8/19/2016
/ Bitcoin ,
Confidentiality Agreements ,
Debtors ,
Disclosure Requirements ,
Enforcement Actions ,
FCC ,
Financial Industry Regulatory Authority (FINRA) ,
FSOC ,
Gifts ,
Government-Backed Loans ,
Hackers ,
Hong Kong ,
Illegal Gratuities ,
MetLife ,
Mortgages ,
Non-Cash Compensation ,
Retail Investors ,
Robocalling ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges ,
SIFIs ,
Student Loans ,
Whistleblowers
Regulatory Developments -
SEC Issues Order Approving Inflation Adjustments to “Qualified Client” Dollar Thresholds for Investment Adviser Performance Fee Rule -
On June 14, the SEC issued an order approving...more
6/23/2016
/ Blockchain ,
Congressional Investigations & Hearings ,
Dodd-Frank ,
Enforcement Actions ,
FSOC ,
GAAP ,
Inflation Adjustments ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
No-Action Letters ,
Non-GAAP Financial Measures ,
Online Marketplace Lending ,
Performance Fee Rule ,
Qualified Client ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges ,
Threshold Requirements
Regulatory Developments -
OFAC Updates Frequently Asked Questions Regarding Lifting Sanctions on Iran -
On June 8, the Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC) updated its...more
6/16/2016
/ Appeals ,
Consumer Financial Protection Bureau (CFPB) ,
Customer Funds Protection ,
Cybersecurity ,
Department of Labor (DOL) ,
Dodd-Frank ,
Enforcement Actions ,
Fiduciary Duty ,
Iran Sanctions ,
Offerings ,
Office of Foreign Assets Control (OFAC) ,
Preemption ,
Presidential Veto ,
Regulation A ,
Securities ,
Securities and Exchange Commission (SEC)
Regulatory Developments -
CFPB Responds to Industry Concerns on Know Before You Owe Rule -
On April 28, the CFPB issued a letter to banking and industry groups in response to an inquiry by the Mortgage Bankers...more
5/5/2016
/ Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Deposit Insurance ,
Enforcement Actions ,
FASB ,
FDIC ,
Investment Adviser ,
Mortgage Lenders ,
Negligence ,
OCC ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Student Loans ,
Volcker Rule
Regulatory Developments -
Federal Banking Regulators Propose Net Stable Funding (Liquidity) Ratio -
The Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation...more
4/29/2016
/ Accreditation ,
Banking Regulators ,
Banks ,
Civil Investigation Demand ,
Consumer Financial Protection Bureau (CFPB) ,
Content Aggregators ,
Debt Collection ,
Deposit Insurance ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
For Profit Colleges ,
Incentive Compensation ,
Lead Generators ,
Liquidity Coverage Ratio ,
Loans ,
Securities and Exchange Commission (SEC)
Regulatory Developments -
Cordray Testifies before Senate Banking Committee -
On April 7, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray testified before the Senate Banking Committee during the...more
4/14/2016
/ Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
FinTech ,
FSOC ,
MetLife ,
Mortgage Bankers Association ,
Online Marketplace Lending ,
Richard Cordray ,
Senate Banking Committee ,
SIFIs ,
UK
Regulatory Developments -
CFPB Now Accepting Complaints on Online Marketplace Lenders -
On March 7, the Consumer Financial Protection Bureau (CFPB) announced two initiatives: it will now accept complaints from...more
3/10/2016
/ Americold Realty Trust v Conagra Foods ,
Bank Secrecy Act ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Data Security ,
Diversity Jurisdiction ,
Enforcement Actions ,
FBAR ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
FinCEN ,
Liquidity ,
OCC ,
Online Marketplace Lending ,
REIT ,
SCOTUS ,
Trusts ,
Volcker Rule
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