News & Analysis as of

Banking Sector Mortgages NYDFS

Blank Rome LLP

Executive Summary – New York Regulation and Disclosure – What Mortgage Applicants Need to Know

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A new law in New York took effect on June 11, 2025, requiring banking organizations, licensed lenders, and mortgage bankers provide a disclosure pamphlet titled “What Mortgage Applicants Need to Know” (the “Pamphlet”)....more

Orrick, Herrington & Sutcliffe LLP

NYDFS releases guidance on risk management

On December 21, 2023, NYDFS released guidance for managing significant financial and operational risks associated with climate change for New York State-regulated banking and mortgage institutions. The guidance emphasized the...more

Morrison & Foerster LLP

Financial Services Report - Summer 2021

As spring turns to summer, climate change is on our minds. A new day, a new story about how financial institutions are addressing climate-related risks. In the past few months, six major banks—Bank of America, JPMorgan...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

CFPB Issues Final Rule Temporarily Raising Reporting Threshold for Home Equity Loans Under Home Mortgage Act Rules - On August 24, 2017, the Consumer Financial Protection Bureau (the "CFPB") issued a new rule that amends...more

Ballard Spahr LLP

New York Added Money Transmitter License to NMLS

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On July 1, 2017, NMLS started receiving new applications for the NYDFS Money Tranmistter License and transition fillings on NMLS....more

Ballard Spahr LLP

2016 Year in Review: Money Laundering (Part One)

Ballard Spahr LLP on

2016 was a busy year for developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues. In part one of our year-in-review, we discuss six key...more

Ballard Spahr LLP

N.Y. Moves Ahead with Proposed Cybersecurity Regulations for Financial Institutions

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The New York Department of Financial Services (NYDFS) will require all institutions subject to NYDFS supervision to establish and maintain a cybersecurity program meeting "certain regulatory minimum standards." All financial...more

Ballard Spahr LLP

NY DFS Finalizes Rigorous AML/BSA Regulation

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The New York Department of Financial Services (DFS) has finalized a new regulation setting forth rigorous standards for monitoring and filtering programs to monitor transactions for potential anti-money laundering (AML) and...more

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