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Dodd-Frank Wall Street Reform and Consumer Protection Act Federal Deposit Insurance Corporation Financial Services Industry

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 2025 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Davis Wright Tremaine LLP

Opportunity Knocks – Litigating Financial Regulation in a Second Trump Administration

During the Biden-Harris Administration, the relationship between financial institutions and their regulators chilled considerably. The financial services industry works daily with its regulators—especially through the...more

Alston & Bird

CFPB Releases Chart to Help Determine if Nonbank Registration is Required

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What Happened? On October 3, 2024, the CFPB released a Nonbank Registration: Orders Rule Coverage Chart (the “Chart”) that summarizes how  an entity that is subject to an order may determine if it must register that order...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2024

CFPB Issues Filing Instructions Guide for Small Business Lending Data - The CFPB has published instructions for banks and other covered financial institutions to submit small business lending data that is required to be...more

Ballard Spahr LLP

FDIC Urges Financial Institutions to Complete Voluntary Diversity Self-Assessments

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The FDIC is urging financial institutions it supervises to voluntarily submit self-assessments of their diversity policies and practices to the agency by Oct. 31, 2024....more

Alston & Bird

CFPB and Other Federal Agencies Finally Adopt AVM Rule

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What Happened? On June 20, 2024, a group of federal regulators published a rule addressing for the use of automated valuation models (AVMs) in mortgage origination and secondary market transactions....more

Latham & Watkins LLP

Agencies Issue Joint Proposal to Curb Incentive-Based Compensation in the Financial Services Industry

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The proposal seeks to make executive compensation arrangements more sensitive to risk and would require complex risk management programs to ensure compliance....more

Troutman Pepper Locke

Several Regulators Re-Propose Rules to Curb Incentive Compensation at Financial Institutions

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On May 6, the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and Federal Housing Finance Agency (FHFA) issued a notice of proposed rulemaking and request for public comment to...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - May 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Mayer Brown

Some US Regulators Repropose Joint Rule on Incentive-Based Compensation

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On May 6, 2024, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Federal Housing Finance Agency (FHFA) and National Credit Union Administration (NCUA; collectively the...more

Ballard Spahr LLP

Director Chopra issues statement on FDIC/OCC/FHA proposal on incentive-based compensation arrangements

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CFPB Director Rohit Chopra has released a statement about the proposal issued by the Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and Federal Housing Finance Agency to address...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases comprehensive report on international, systemically important banks

On April 10, the FDIC released a report on the FDIC’s plans and readiness to step in as a receiver for a financial company under Title II of the Dodd-Frank Act. The FDIC Chairman said this report was the “most detailed...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: What the Recent Developments in Federal Preemption for National and State Banks Mean for...

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Providers of consumer financial services that rely on federal preemption to charge customers uniform interest rates and fees on a nationwide basis are currently facing a series of legislative and litigation challenges. In...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 # 5

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Husch Blackwell LLP

Federal Trade Commission Amends GLBA’s Safeguards Rule

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Key Point: The Federal Trade Commission (FTC) has amended the Safeguards Rule to require non-banking financial institutions to inform the FTC within 30 days of discovering any unauthorized acquisition of unencrypted customer...more

Jones Day

FDIC Proposes Toughening CIDI Resolution Plan Rules

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In Short - The Situation: The Federal Deposit Insurance Corporation ("FDIC") has proposed significant amendments (the "Proposal") to its rule requiring covered insured depository institutions ("CIDIs") to prepare and file...more

Ballard Spahr LLP

FDIC Moves to Dismiss Lawsuit Challenging NSF Fee Guidance

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The FDIC has filed motion to dismiss the lawsuit filed in July 2023 in a Minnesota federal district against the FDIC and its Chairman seeking to invalidate the FDIC’s supervisory guidance on charging multiple non-sufficient...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2023

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To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Troutman Pepper Locke

Several Trade Associations Join Calls to CFPB to Stay Implementation of its Section 1071 Final Rule

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On August 18, the American Financial Services Association, Consumer Bankers Association, CRE Finance Council, Equipment Leasing and Finance Association, Mortgage Bankers Association, National Association of Federally-Insured...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2023

A federal court has issued an order granting an injunction that delays the compliance dates for the CFPB’s final rule governing the collection of small business lending data required by Section 1071 of the Dodd-Frank Wall...more

Jones Day

Federal Banking Agencies Propose Increased Capital Requirements for Large Banks

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In Short - The Situation: The federal banking agencies approved a proposal that would implement a "gold-plated" U.S. version of the "Basel III endgame."...more

Alston & Bird

CFPB and Federal Agencies Seek Comment on Proposed Automated Valuation Models Rule

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A&B Abstract: On June 21, the Consumer Financial Protection Bureau (CFPB), along with five federal regulatory agencies (Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System...more

Orrick, Herrington & Sutcliffe LLP

CFPB releases regulatory agenda (UPDATE)

The Office of Information and Regulatory Affairs recently released the CFPB’s spring 2023 regulatory agenda. Key rulemaking initiatives that the agency expects to initiate or continue include...more

Orrick, Herrington & Sutcliffe LLP

OCC, FDIC say some overdraft fees may be unfair or deceptive

On April 26, the OCC and FDIC issued supervisory guidance addressing consumer compliance risks associated with bank overdraft practices. (See OCC Bulletin 2023-12 and FDIC FIL-19-2023.) The guidance highlighted certain...more

Goodwin

Financial Services Weekly News Roundup - February 2023

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Federal Reserve Issues Policy Statement on Section 9(13) of the Federal Reserve Act - On January 27, the Federal Reserve issued a policy statement interpreting section 9(13) of the Federal Reserve Act, which authorizes...more

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