In This Issue. The U.S. Securities and Exchange Commission (SEC) adopted amendments to modernize filing fee disclosure and payment methods; the Financial Industry Regulatory Authority (FINRA) announced an examination of...more
10/15/2021
/ Anti-Money Laundering ,
Automated Clearing House (ACH) ,
Bank Secrecy Act ,
Broker-Dealer ,
BSA/AML ,
Disclosure Requirements ,
Filing Fees ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Investment Companies ,
Investors ,
Payment Methods ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs) ,
Terrorism Funding
In This Issue. The Consumer Financial Protection Bureau (CFPB) released a new Compliance Aid; the U.S. Securities and Exchange Commission (SEC) proposed amendments to Form N-PX with the goal of making it easier and more...more
10/11/2021
/ Collection Agencies ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Debt Collectors ,
Debtors ,
Disclosure Requirements ,
FDCPA ,
Federal Reserve ,
Final Rules ,
Financial Services Industry ,
International Organization for Standardization ,
Investment Companies ,
Investment Funds ,
Investment Management ,
Investors ,
Proposed Amendments ,
Proxy Voting ,
Public Comment ,
Regulation F ,
Securities and Exchange Commission (SEC)
In This Issue. The Financial Industry Regulatory Authority (FINRA) adopted new rules to address firms with a significant history of misconduct; the Securities and Exchange Commission (SEC) issued an order approving rule...more
9/30/2021
/ Amended Rules ,
Continuing Education ,
Cross-Border ,
EU ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Fund Distribution ,
Investment Firms ,
Investors ,
New Rules ,
Registration Requirement ,
Securities and Exchange Commission (SEC)
In This Issue. The U.S. Securities and Exchange Commission (SEC) published a sample comment letter on climate change disclosures; the Financial Industry Regulatory Authority (FINRA) is conducting a review of brokerage firm...more
9/24/2021
/ Banking Sector ,
Broker-Dealer ,
Business E-Mail Compromise (BEC) ,
Climate Change ,
Community Development Financial Institution (CDFI) ,
Corporate Social Responsibility ,
Cybersecurity ,
Depository Institutions ,
Disclosure Requirements ,
FDIC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Influencers ,
Investment Adviser ,
Investment Firms ,
Investors ,
OCC ,
OTCBB ,
Policies and Procedures ,
Popular ,
Publicly-Traded Companies ,
Sanctions ,
SEC Comment Letter Process ,
Securities and Exchange Commission (SEC) ,
Social Media
In This Issue. The Consumer Financial Protection Bureau (CFPB) withdrew its proposal to delay the Debt Collection Final Rules; the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance...more
9/17/2021
/ Banking Sector ,
Banks ,
Broker-Dealer ,
Comment Period ,
Community Banks ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Debt Collectors ,
Digital Platforms ,
Due Diligence ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Services Industry ,
FinTech ,
FRB ,
Investment Adviser ,
Investment Companies ,
Investment Company Act of 1940 ,
OCC ,
Proposed Rules ,
Public Comment ,
Regulation F ,
Retail Investors ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Third-Party Risk
In This Issue. The Federal Deposit Insurance Corporation (FDIC) is seeking information and comment regarding the FDIC’s supervisory approach to examinations during the pandemic; the FDIC’s tech lab, FIDTECH, announced a “tech...more
8/20/2021
/ Banking Examinations ,
Banking Sector ,
Centers for Disease Control and Prevention (CDC) ,
Comptroller ,
Coronavirus/COVID-19 ,
Cyber Attacks ,
Cyber Threats ,
Cybersecurity ,
Depository Institutions ,
Due Process ,
Eviction ,
Examination Procedures ,
FDIC ,
Federal Deposit Insurance Act ,
FFIEC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
Information Technology ,
Landlords ,
Liquidity ,
Moratorium ,
New Guidance ,
OCC ,
Outsourcing ,
Phishing Scams ,
Popular ,
Public Comment ,
Rental Property ,
Risk Assessment ,
Risk Management ,
Tenants ,
Vendors
In This Issue. The federal bank regulators published frequently asked questions concerning the London Interbank Offered Rate transition; the Consumer Financial Protection Bureau (CFPB) confirmed an effective date for two...more
8/6/2021
/ Annual Meeting ,
Banking Sector ,
Breach of Duty ,
Broker-Dealer ,
Capital Rules ,
Comment Period ,
Comptroller ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Debtors ,
FDCPA ,
FDIC ,
Federal Reserve ,
FedNow ,
Fiduciary Duty ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Inter-Bank Offered Rates (IBORs) ,
Investment Adviser ,
Investment Company Act of 1940 ,
Investment Firms ,
Investors ,
Libor ,
OCC ,
Proposed Rules ,
Public Comment ,
Rulemaking Process ,
Section 36(b) ,
Securities and Exchange Commission (SEC)
In This Issue. The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will no longer charge lenders the Adverse Market Refinance Fee; the Federal Deposit Insurance Corporation (FDIC) is seeking...more
7/30/2021
/ Adverse Market Refinance Fees ,
Banking Sector ,
Board of Governors ,
Borrowers ,
Comment Period ,
Commercial Bankruptcy ,
Community Reinvestment Act ,
CRA ,
Delinquent Borrowers ,
Deposit Insurance ,
Division of Investment Management ,
Fannie Mae ,
FDIC ,
Federal Reserve ,
FHFA ,
Financial Services Industry ,
Freddie Mac ,
Lenders ,
Liquidity ,
Money Market Funds ,
Mortgage Lenders ,
Mortgages ,
OCC ,
Paycheck Protection Program (PPP) ,
Proposed Amendments ,
Public Comment ,
Rulemaking Process ,
SBA ,
Securities and Exchange Commission (SEC)
In This Issue. The federal bank regulatory agencies requested public comment on proposed guidance designed to help banking organizations manage risks associated with third-party relationships; the Office of the Comptroller of...more
7/30/2021
/ Banking Sector ,
Climate Change ,
Comment Period ,
Cross Trading ,
Disclosure Requirements ,
FDIC ,
Fees ,
Fiduciary Duty ,
Financial Services Industry ,
Fixed Income Investments ,
Investment Adviser ,
OCC ,
Policies and Procedures ,
Proposed Guidance ,
Public Comment ,
Registered Investment Advisors ,
Regulatory Agencies ,
Risk Alert ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Third-Party Risk
In This Issue. President Joe Biden issued a sweeping executive order aimed at cracking down on anticompetitive practices and reducing consolidation across multiple industry sectors, including financial services; the Federal...more
7/29/2021
/ Acquisitions ,
Anti-Competitive ,
Antitrust Division ,
Automatic Stay ,
Biden Administration ,
CEOs ,
Comment Period ,
Competition ,
Discovery ,
Executive Orders ,
FDIC ,
Federal Reserve ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Investors ,
Misleading Statements ,
Motion to Dismiss ,
OCC ,
Private Securities Litigation Reform Act of 1995 ,
PSLRA ,
Public Comment ,
Risk Management ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Special Purpose Acquisition Companies (SPACs) ,
Sponsors ,
Third-Party Risk ,
Unfair or Deceptive Trade Practices
In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more
7/28/2021
/ AML/CFT ,
Annual Reports ,
Anti-Money Laundering ,
Arkansas Teacher Retirement System v Goldman Sachs Group ,
Bank Secrecy Act ,
Banking Sector ,
Basic v Levinson ,
Borrowers ,
BSA/AML ,
Burden of Persuasion ,
Burden of Proof ,
Certiorari ,
Class Action ,
Class Certification ,
Community Development ,
Community Reinvestment Act ,
Conflicts of Interest ,
Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Distressed Properties ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinCEN ,
Forbearance Agreements ,
Foreclosure ,
Goldman Sachs ,
Investors ,
Lenders ,
Loss Mitigation ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
No-Action Letters ,
OCC ,
Presumption of Reliance ,
Regulation X ,
Repeal ,
Rulemaking Process ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Litigation ,
Shareholders ,
True Lender ,
Underserved Locations
In This Issue. Several federal financial regulatory agencies updated their Spring 2021 regulatory agendas; the Consumer Financial Protection Bureau (CFPB) announced its intention to restart Military Lending Act examinations;...more
7/27/2021
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
FDIC ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Lenders ,
Military Lending Act ,
Phishing Scams ,
Policy Statement ,
Proposed Rules ,
Regulatory Agenda ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Wire Fraud
In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more
6/25/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Biden Administration ,
BSA/AML ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Creditors ,
Debit Cards ,
Durbin Amendment Rules ,
Fannie Mae ,
Federal Reserve ,
FFIEC ,
FHFA ,
Financial Institutions ,
Financial Services Industry ,
Freddie Mac ,
Holidays ,
Inflation Adjustments ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Lenders ,
Mortgages ,
Popular ,
Public Comment ,
Recordkeeping Requirements ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Truth in Lending Act (TILA)
In This Issue. The Chairman of the U.S. Securities and Exchange Commission (the SEC), Gary Gensler, issued a statement on the application of the proxy rules to proxy voting advice directed to the SEC staff to consider whether...more
6/11/2021
/ 10b5-1 Plans ,
Consumer Financial Protection Bureau (CFPB) ,
Escrow Accounts ,
Freddie Mac ,
Insider Trading ,
Investment Property ,
Mortgages ,
Proxy Advisory Firms ,
Proxy Voting ,
Proxy Voting Guidelines ,
Regulation X ,
Second Homes ,
Securities and Exchange Commission (SEC)
In This Issue. The Equal Employment Opportunity Commission (EEOC) released updated COVID-19 vaccine guidelines for employers. Meanwhile, the Board of Governors of the Federal Reserve System (Federal Reserve) remained busy...more
6/4/2021
/ Amended Regulation ,
Banking Sector ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Digital Currency ,
EEO ,
Employment Policies ,
Equal Employment Opportunity Commission (EEOC) ,
Federal Reserve ,
Final Rules ,
Financial Services Industry ,
Fund Transfers ,
Health and Safety ,
Interest Rates ,
Liquidity Management ,
Proposed Rules ,
Public Comment ,
Regulation D ,
Secondary Market Corporate Credit Facility (SMCCF) ,
Vaccinations ,
Workplace Safety
In This Issue. President Biden signed an executive order addressing climate-related financial risks; the Office of the Comptroller of the Currency (OCC) finalized a rule applicable to national banks and federal savings...more
5/27/2021
/ Banking Sector ,
Biden Administration ,
Call Reports ,
Climate Change ,
Coronavirus/COVID-19 ,
Environmental Social & Governance (ESG) ,
Executive Orders ,
FDIC ,
Federal Insurance Office ,
Federal Reserve ,
Federal Savings Associations ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
FSOC ,
Governor Baker ,
Investment Funds ,
Masks ,
OCC ,
Proxy Voting ,
Re-Opening Guidelines ,
Secretary of the Treasury
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 Board of Governors of the Federal Reserve System (Federal Reserve) invited public comment on proposed changes to Regulation II, better known as the Durbin Amendment, regarding network availability for...more
5/14/2021
/ Banking Sector ,
Bitcoin ,
Community Banks ,
Comptroller ,
Congressional Review Act ,
Cryptocurrency ,
Debit Cards ,
Digital Assets ,
Division of Investment Management ,
Durbin Amendment Rules ,
FDIC ,
Federal Reserve ,
Financial Services Industry ,
Investment Company Act of 1940 ,
Investment Management ,
Investors ,
Lenders ,
Mutual Funds ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Public Comment ,
Securities and Exchange Commission (SEC) ,
True Lender ,
U.S. Treasury
In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve), in response to an increased number of inquiries and access requests from companies with fintech and other narrow purpose charters, invited...more
5/7/2021
/ Acquisitions ,
AMG Capital Management LLC v FTC ,
Anti-Money Laundering ,
Arbitration Agreements ,
Banking Sector ,
Broker-Dealer ,
Cash Transactions ,
Community Development Financial Institution (CDFI) ,
Consumer Financial Products ,
Depository Institutions ,
Enforcement Actions ,
Enforcement Authority ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
FinCEN ,
FinTech ,
FTC Act ,
FTCA Section 13(b) ,
Geographic Targeting Order ,
Injunctive Relief ,
Lenders ,
Loan Applications ,
Mergers ,
Paycheck Protection Program (PPP) ,
Payment Services Directive ,
Permanent Injunctions ,
Pre-Dispute Arbitration ,
Private Placements ,
Public Comment ,
Real Estate Transactions ,
Residential Real Estate Market ,
SBA ,
SCOTUS ,
Title Insurance ,
Unregistered Securities
In This Issue. The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval to a third cryptocurrency firm chartering a national trust bank; the Consumer Financial Protection Bureau (CFPB)...more
5/4/2021
/ American Rescue Plan Act of 2021 ,
Banking Sector ,
Closed-End Funds ,
COBRA ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Depository Institutions ,
Final Rules ,
Income Taxes ,
Investment Funds ,
Investors ,
Mortgages ,
National Bank Charters ,
NYSE ,
OCC ,
Private Funds ,
Proposed Amendments ,
Proposed Rules ,
Public Comment ,
Qualified Mortgage Rule
In This Issue. The Securities and Exchange Commission’s (SEC) Division of Investment Management provided notice that it would terminate or withdraw certain temporary relief provided in response to the COVID-19 pandemic; the...more
5/3/2021
/ Centers for Disease Control and Prevention (CDC) ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Current Expected Credit Losses (CECL) ,
Debt Collection ,
Debtors ,
Division of Investment Management ,
Eviction ,
Interim Final Rules (IFR) ,
Moratorium ,
OCC ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tenants ,
Written Notice
In This Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations issued a Risk Alert raising concerns about misleading Environmental, Social, and Governance (ESG) disclosures by investment firms; the...more
4/20/2021
/ Advertising ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
BSA/AML ,
Comment Period ,
Environmental Social & Governance (ESG) ,
Fannie Mae ,
FDIC ,
Federal Reserve ,
Freddie Mac ,
Notice of Proposed Rulemaking (NOPR) ,
Public Comment ,
Reporting Requirements ,
Risk Alert ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Supervisory Guidance
In This Issue. The Consumer Financial Protection Bureau (CFPB) continued to be active under its new leadership this week, warning mortgage servicers to prepare now for an anticipated surge of homeowners needing assistance...more
4/8/2021
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
ATDS ,
Auto-Dialed Calls ,
Beneficial Owner ,
Borrowers ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Corporate Transparency Act ,
Debt Collection ,
Facebook ,
Facebook Inc v Duguid ,
FDIC ,
FinCEN ,
Foreclosure ,
Homeowners ,
Loss Mitigation ,
Mortgage Servicers ,
Mortgage Servicing Rules ,
Mortgages ,
Proposed Rules ,
Public Comment ,
Random or Sequential Number Generator ,
Regulation X ,
Robocalling ,
SCOTUS ,
TCPA
In This Issue. President Biden signed a bill extending the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) through May 31, 2021; the Consumer Financial Protection Bureau (CFPB) announced the rescission...more
4/2/2021
/ Artificial Intelligence ,
Automotive Industry ,
Biden Administration ,
Capital Requirements ,
Causation ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Dividends ,
Federal Reserve ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Ford Motor ,
Ford Motor Co. v Bandemer ,
Ford Motor Co. v Montana Eighth Judicial District Court ,
Jurisdiction ,
Paycheck Protection Program (PPP) ,
Payday Lending Rule ,
Personal Jurisdiction ,
Policy Statement ,
SBA ,
SCOTUS ,
Share Buybacks ,
Small Dollar Lenders ,
Stress Tests ,
Supervisory Guidance
In this Issue. The Office of the Comptroller of the Currency (OCC) issued guidance on its authority to charter limited purpose trust companies, raising the possibility that a limited purpose national bank could be organized...more
1/15/2021
/ Banking Sector ,
Capital Rules ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Debt Instruments ,
Disclosure Requirements ,
Employee Stock Purchase Plans ,
Federal Trade Commission (FTC) ,
Filing Deadlines ,
Incentive Stock Options ,
Interpretive Letters ,
MD&A Statements ,
New Guidance ,
OCC ,
Paycheck Protection Program (PPP) ,
SBA ,
TCPA ,
Terms of Service ,
U.S. Treasury