Wild Times for the Community Reinvestment Act
Daily Compliance News: July 31, 2025. The Forgotten Generation Edition
Compliance Tip of the Day: Citibank and Continuous Monitoring
Wire Fraud Litigants Beware: Fourth Circuit Ruling Protects the Banks — The Consumer Finance Podcast
Top challenges with Compliance Management
From Banks to FinTech: The Evolution of Small Business Lending — The Consumer Finance Podcast
From Banks to FinTech: The Evolution of Small Business Lending — Payments Pros – The Payments Law Podcast
The Capital Ratio Podcast | Entering the US Banking Market
Point-of-Sale Finance Series: Banking on Lending Models — The Consumer Finance Podcast
Understanding MALPB Charters: A Collaborative Approach to Banking Innovation — Payments Pros – The Payments Law Podcast
The fatal flaws in the 2023 CRA rule
Fraud, the silent epidemic
Consumer Finance Monitor Podcast Episode: Private Civil Consumer Financial Services Litigation to Partially Fill CFPB Void - Part 1
Daily Compliance News: April 21, 2025, The Tribute to Pope Francis Edition
Predictions regarding the 2023 CRA Rule and Section 1071 and how to prepare for expected developments
The Capital Ratio Podcast | Stablecoins: Regulatory Issues for UK and EU Banks To Consider
Strengthening Compliance: Lessons From the OCC's Consent Order With Patriot Bank — Payments Pros – The Payments Law Podcast
Navigating 2025: Federal Legislative and Regulatory Updates on Stablecoins and Decentralized Finance — The Crypto Exchange Podcast
Third-Party Risk The competitive world of banking struggles to keep up with technological advances, particularly in a regulatory environment.
Deposit Account Litigation: Highlights From 2024 and What to Expect in 2025 — The Consumer Finance Podcast
UBS has found itself the latest target in the growing wave of ERISA litigation surrounding the handling of forfeitures in 401(k) plans. In Czakoczi v. UBS AG et al., filed in the District of New Jersey, the allegations mirror...more
Many moons ago, I got a call from a bank with a problem. For two decades—yes, twenty years—they had failed to include bonuses as part of plan compensation. The kicker? They were supposed to. This wasn’t a gray area; the plan...more
The US Department of Labor has released its package of proposed changes to the regulation defining fiduciary advice and to the exemptions for conflicts and compensation for investment advice to plans, participants (including...more
US regulators seized Silicon Valley Bank (SVB) on March 10, marking the second largest US bank failure in history and largest since the 2008 global financial crisis. In response, investors began selling off stocks of other...more
The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice. In FAQ 17, the DOL discusses both the implications of payout grids and mitigation techniques to minimize...more
The US Department of Labor (DOL) recently issued guidance concerning a new exemption under the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) in connection with the provision...more
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: An Overview - This article is an overview of the requirements of PTE 2020-02. It discusses the expanded fiduciary definition, the conditions in the PTE, and the...more
In the News. The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking to create a new category of “seasoned” qualified mortgages; the Securities and Exchange Commission’s (SEC) Office of...more
We are actively looking for circumstances where an adviser is financially conflicted by incentives that could affect investment recommendations to clients. ... And I will tell you: the more we look, the more undisclosed or...more
Goldman Sachs is reportedly in negotiations with federal prosecutors to resolve claims about its role in the Malaysian 1MDB scandal for upwards of $2 billion. A settlement—which “could include a guilty plea from Goldman’s...more
With politics swirling around in the background, the AT&T/Time Warner mega-merger is still up in the air, with DOJ antitrust officials still working away (8 months after the deal was announced) to determine whether...more
The Financial Stability Board—that Swiss-based grand collection of central bankers and regulators from the world’s biggest economies—has upped the systemic importance ranking for three of America’s biggest banks, including...more
A Power of Attorney is an important estate planning tool that allows an individual (the “Agent”) to act on behalf of another person (the “Principal”) in financial and other matters without involving the probate court. A new...more
Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more
Faced with new Department of Labor rules requiring investment advisers to act in the best interest of their retirement account customers, Morgan Stanley’s decided to let its customers keeping paying for retirement advice with...more
Thanksgiving is typically a time for gratitude, gathering with family, and acts of kindness among fellow men and women. But in one recent case, a bank used Thanksgiving to force-feed a separation agreement to its outgoing...more
1. Question: What is the Volcker Rule, and when does it take effect? Answer: The Volcker Rule was enacted into law as section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank...more
Below is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management industry. Schwab...more
Beneficiary designations are commonly used to name the individuals or entities who are to receive the proceeds of life insurance policies or retirement plans after the death of the owner. An increasing number of financial...more
ERISA §3(38) investment managers has been a hot topic in the marketing of retirement plan providers and for the most part, it’s a good thing because plan sponsors who have no time to handle the fiduciary process of their plan...more
The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (Division) recently addressed for the first time the CFTC’s definition of a “swap” as it applies to a specific insurance...more
The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission (the "SEC") issued a final rule, and the Commodity Futures...more
In this issue: - CFTC Grants Relief to CTAs and IAs from Swap Block Trade Aggregation Prohibition - Sixth Circuit Affirms Decision to Enforce Arbitration Provision in Retiree Benefit Dispute - Third...more