In This Issue. The ongoing global outbreak of the coronavirus (COVID-19) continues to grow in scale and scope. In response, federal financial regulators are continuing efforts to bring regulatory relief to promote stability...more
3/19/2020
/ Annual Meeting ,
Banking Sector ,
Comment Period ,
Coronavirus/COVID-19 ,
Enforcement ,
FDIC ,
Financial Institutions ,
Financial Markets ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinCEN ,
Infectious Diseases ,
Interim Final Rules (IFR) ,
Investment Adviser ,
Investment Funds ,
New Amendments ,
New Guidance ,
New Rules ,
OCC ,
Public Comment ,
Public Health ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Shareholder Meetings ,
Virtual Meetings
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)
In This Issue. The Federal Deposit Insurance Corporation (FDIC) released a new guide to help financial technology companies and others partner with banks; the Financial Industry Regulatory Authority (FINRA) announced that it...more
2/27/2020
/ Auto-Dialed Calls ,
Banking Sector ,
Banks ,
Blockchain ,
Broker Commissions ,
Broker-Dealer ,
Call Reports ,
Comment Period ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Contract Management ,
Debt Collection ,
Debtors ,
Disclosure Requirements ,
Due Diligence ,
Enforcement Actions ,
FDIC ,
FFIEC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
HMDA ,
Investment Firms ,
MD&A Statements ,
New Guidance ,
OCC ,
Popular ,
Proposed Regulation ,
Public Comment ,
Risk Management ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Stress Tests ,
TCPA
In This Issue. The Consumer Financial Protection Bureau (CFPB) released a policy statement outlining framework that the CFPB will immediately begin to apply in matters of supervision and enforcement regarding the “abusive”...more
1/31/2020
/ Abusive Acts ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Digital Currency ,
FDIC ,
FIRRMA ,
Foreign Investment ,
ISDA ,
Libor ,
MD&A Statements ,
OCC ,
OCIE ,
Securities and Exchange Commission (SEC) ,
UK
In This Issue. In a speech to the Urban Institute in Washington, DC, Federal Reserve Governor Lael Brainard outlined the viewpoint of the Board of Governors of the Federal Reserve System (Federal Reserve Board) on...more
In This Issue. The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) proposed the first substantive amendments to regulations implementing the Community Reinvestment Act in...more
In This Issue. The Office of the Comptroller of the Currency (OCC) highlighted the key risks facing the federal banking system in its Semiannual Risk Perspective for Fall 2019; the Financial Stability Oversight Council (FSOC)...more
In This Issue. The Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC), in response to the Second Circuit’s 2015 decision in Madden v. Midland Funding, LLC, each proposed a rule to...more
11/22/2019
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
Investment Adviser ,
Madden v Midland Funding ,
Mortgages ,
OCC ,
Popular ,
Proxy Voting Guidelines ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Shareholders
In This Issue. The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Federal Reserve Board), and the Federal Deposit Insurance Corporation (FDIC) issued two final rules —...more
In This Issue. The Securities and Exchange Commission (SEC) adopted a rule permitting most exchange-traded funds that satisfy a set of standardized conditions to operate without the expense and delay of obtaining exemptive...more
In This Issue. The U.S. House of Representatives voted to approve the SAFE Banking Act, which would permit banks to serve cannabis-related businesses in states where it is legal; the Securities and Exchange Commission (SEC)...more
10/3/2019
/ Banking Sector ,
Cannabis Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Labor (DOL) ,
FDIC ,
Financial Services Industry ,
Marijuana Related Businesses ,
Minimum Salary ,
OCC ,
Popular ,
Real Estate Transactions ,
SAFE ,
Securities and Exchange Commission (SEC)
In This Issue. The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) approved an interagency final rule to simplify and tailor requirements relating to the Volcker Rule; the...more
In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) announced that it will launch a new round-the-clock, real-time payment and settlement service — the FedNow? Service — to support faster...more
8/8/2019
/ Banks ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
FDCPA ,
Financial Services Industry ,
Investment Adviser ,
IRS ,
OCC ,
Regulation Z ,
Securities and Exchange Commission (SEC) ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Virtual Currency
In This Issue. The Consumer Financial Protection Bureau (CFPB) announced its intention to allow the “QM Patch,” which exempts Fannie Mae and Freddie Mac from the full scope of the ability-to-repay/qualified mortgage rule, to...more
EDITOR'S NOTE -
Working Weekends and Holidays. While most Americans were enjoying the Independence Day holiday weekend, the Board of Governors of the Federal Reserve System (Federal Reserve), the Office of the Comptroller of...more
7/12/2019
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Banking Sector ,
Call Blocking ,
Consumer Financial Protection Bureau (CFPB) ,
FCC ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
HMDA ,
HOLA ,
Mutual Funds ,
No-Action Relief ,
OCC ,
Payday Lending Rule ,
Popular ,
Securities and Exchange Commission (SEC) ,
Summary Judgment ,
Volcker Rule
In This Issue. The Securities and Exchange Commission (SEC): (i) adopted amendments clarifying auditor independence rules in light of lending relationships with shareholders of an audit client; (ii) adopted a set of new...more
Editor's Note -
In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) released 2019 stress test scenarios and exempted less complex banks with between $100 billion and $250 billion in assets...more
2/7/2019
/ Banks ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Employee Retirement Income Security Act (ERISA) ,
FDIC ,
Federal Reserve ,
Financial Services Industry ,
Investment Management ,
OCC ,
Payday Loans ,
Securities and Exchange Commission (SEC) ,
Stress Tests ,
Subsidiaries ,
TILA-RESPA Integrated Disclosure Rule (TRID)
Editor's Note -
When will the government shutdown end? The government shutdown has forced many federal agencies, including those mentioned in the articles below, to operate in accordance with the agency's emergency plan for...more
1/10/2019
/ BSA/AML ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Act ,
FDIC ,
Financial Services Industry ,
HMDA ,
Interest Rates ,
OCC ,
OCIE ,
Popular ,
Securities and Exchange Commission (SEC) ,
Stress Tests
Editor's Note -
In This Issue. The Securities and Exchange Commission (SEC) adopted rules and amendments designed to promote research on mutual funds, exchange-traded funds (ETFs), registered closed-end funds, business...more
12/7/2018
/ Banking Sector ,
Banks ,
Carlton & Harris Chiropractic Inc v PDR Network LLC ,
Data Protection ,
EU ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Institutional Shareholder Services (ISS) ,
Investment Funds ,
OCC ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
TCPA
Editor's Note -
In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a risk alert announcing that it was conducting a series of examination...more
In This Issue. The Office of the Comptroller of the Currency (OCC) released its annual supervision operating plan outlining its bank supervision priorities, issued an updated Truth in Lending Act booklet, and provided...more
10/4/2018
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Corrective Actions ,
Cybersecurity ,
Financial Services Industry ,
FinCEN ,
Form 10-Q ,
Loans ,
OCC ,
Payday Loans ,
Securities and Exchange Commission (SEC) ,
Truth in Lending Act (TILA)
In This Issue. The Securities and Exchange Commission (SEC) withdrew interpretive guidance pertaining to reliance on voting recommendations of proxy advisory firms in advance of their upcoming Roundtable on the U.S. proxy...more
9/20/2018
/ Advertising ,
Affiliates ,
Cease and Desist Orders ,
Consumer Financial Protection Bureau (CFPB) ,
FDIC ,
FinTech ,
Investment Adviser ,
Marketing ,
NYDFS ,
OCC ,
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
Editor's Note -
In This Issue. The Office of the Comptroller of the Currency (OCC) issued revised guidance on Community Reinvestment Act ratings; the OCC also released an update to the Bank Accounting Advisory Series; and...more
Editor's Note -
Additional Regulatory Support for Financial Innovation. Last week, the Roundup reported that the Office of the Comptroller of the Currency (OCC) would begin accepting applications for special purpose national...more