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 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 the News. The Securities and Exchange Commission (SEC) proposed modifying the disclosure framework for mutual funds and exchange-traded funds (funds), which would create a new layered disclosure regime that attempts to...more
8/14/2020
/ Alternative Reference Rates Committee (ARRC) ,
Annual Reports ,
Banking Sector ,
Banks ,
Board of Governors ,
Borrowers ,
Business Development Companies ,
Capital Requirements ,
Closed-End Funds ,
Comment Period ,
Coronavirus/COVID-19 ,
Disclosure Requirements ,
Enforcement Actions ,
Excessive Fees ,
Exchange-Traded Products ,
Federal Reserve ,
Fees ,
Financial Services Industry ,
Form N-1A ,
Interim Final Rules (IFR) ,
Investment Adviser ,
Investment Companies ,
Investment Company Act of 1940 ,
Investment Funds ,
Investment Management ,
Investors ,
Lenders ,
Libor ,
Loan Forgiveness ,
Municipal Liquidity Facility (MLF) ,
Mutual Funds ,
OCC ,
Paycheck Protection Program (PPP) ,
Public Comment ,
Registered Funds ,
Retail Investors ,
Rule 30e-3 ,
SBA ,
SEC Advertising Rule ,
Section 36(b) ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC) ,
Shareholders
In This Issue. The Office of the Comptroller of the Currency (OCC) proposed a rule that would establish that a national bank or federal savings association is the “true lender” of a loan if, as of the date of origination, the...more
7/23/2020
/ Banking Sector ,
Board of Directors ,
Board of Governors ,
Comment Period ,
Consumer Complaint Database ,
Consumer Financial Protection Bureau (CFPB) ,
Court of Justice of the European Union (CJEU) ,
Data Privacy ,
Data Protection ,
Digital Assets ,
Enforcement Actions ,
EU ,
EU-US Privacy Shield ,
FDIC ,
Federal Reserve ,
Federal Savings Associations ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Interim Final Rules (IFR) ,
International Data Transfers ,
Lenders ,
Loan Agreements ,
Main Street Lending Programs ,
Nonprofits ,
OCC ,
Paycheck Protection Program (PPP) ,
Personal Data ,
Proposed Rules ,
Public Comment ,
Regulation Z ,
Request For Information
In This Issue. The U.S. Department of the Treasury (Treasury) and the Small Business Administration (SBA) released an interim final rule to reflect changes made by H.R. 7010, the Paycheck Protection Program Flexibility Act,...more
6/18/2020
/ Banking Examinations ,
Banking Sector ,
Borrowers ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Credit Reports ,
Enforcement Actions ,
False Claims Act (FCA) ,
Filing Deadlines ,
Financial Services Industry ,
Form CRS ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Applications ,
Loan Forgiveness ,
Main Street Lending Programs ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Public Comment ,
Re-Opening Guidelines ,
Regulation Best Interest ,
Relief Measures ,
Risk Mitigation ,
SBA ,
Secondary Market Corporate Credit Facility (SMCCF) ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Small Business Loans ,
Stock Exchange ,
Transaction Fees ,
U.S. Treasury
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 Office of the Comptroller of the Currency (OCC) finalized a rule to strengthen and modernize regulations under the Community Reinvestment Act; the Securities and Exchange Commission (SEC) voted to adopt...more
5/21/2020
/ Amended Rules ,
Banking Sector ,
Broker-Dealer ,
CARES Act ,
Comment Period ,
Community Reinvestment Act ,
Consolidated Audit Trail ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
CSBS ,
Enforcement Actions ,
False Claims Act (FCA) ,
FCC ,
Federal Reserve ,
FHFA ,
Filing Deadlines ,
Financial Services Industry ,
Forbearance Agreements ,
Form CRS ,
Homeowners ,
Interim Final Rules (IFR) ,
Investment Adviser ,
Loan Forgiveness ,
Mortgages ,
National Market System (NMS) ,
New Rules ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Paycheck Protection Program (PPP) ,
Public Comment ,
Qui Tam ,
Regulation Best Interest ,
Regulation D ,
Relief Measures ,
Robocalling ,
SBA ,
Securities and Exchange Commission (SEC) ,
Time-Barred Debt ,
Transparency
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 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
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
Editor's Note -
In This Issue. The Office of the Comptroller of the Currency (OCC) announced that it was seeking public comments on revising the Volcker Rule; the Securities and Exchange Commission (SEC) offered a window...more
8/4/2017
/ Data Collection ,
Data Protection ,
EU ,
Fair Credit Reporting Act (FCRA) ,
FDIC ,
Federal Trade Commission (FTC) ,
Fraud ,
General Data Protection Regulation (GDPR) ,
Hyperlink ,
Initial Coin Offering (ICOs) ,
OCC ,
Public Comment ,
Reverse Mortgages ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Volcker Rule
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 -
Investment Advisers Breathe a Sigh of Relief. On Thursday, August 25, the federal district court in New Jersey ruled after a 26-day trial in favor of AXA Equitable Insurance Company and against the...more
9/1/2016
/ Add-ons ,
Anti-Money Laundering ,
Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Customer Identification Program (CIP) ,
Excessive Fees ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
First National ,
Form ADV ,
Investment Adviser ,
Pay-To-Play ,
Public Comment ,
Regulation S-K ,
Securities and Exchange Commission (SEC) ,
Transparency