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A&O Shearman

PRA consults on proposed reforms to credit union investment rules

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The Prudential Regulation Authority (PRA) has published consultation paper CP13/25 proposing amendments to the credit union investment rules to permit investments in credit union service organisations (CUSOs). The proposals...more

Troutman Pepper Locke

Following FinCEN’s Lead, Four Federal Banking Regulators Announce AML/CFT Rulemaking

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As discussed here, on June 28, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed significant amendments to the anti-money laundering and countering the financing of terrorism...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

Buchalter

The CFPB’s Proposed Personal Financial Data Rights Rule – Financial Institutions Would Face Competitive, Operational and...

Buchalter on

In an effort to promote “open banking” and reduce “sticky banking”, make it easier for consumers to compare their current financial institution to competitors, and to generally increase competition among financial...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter -October 2023 # 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

Kaufman & Canoles

Credit Union/Consumer Finance Client Alert

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The Consumer Finance Protection Bureau (“CFPB”) issued a long-awaited proposed rule that could significantly impact credit union operations and their third-party loan operating system vendors. The proposed rule, pursuant...more

White & Case LLP

Fed Announces "FedNow" Real-Time Payments Service

White & Case LLP on

On August 5, 2019, the Board of Governors of the Federal Reserve System (“Board”) proposed the development of a real-time gross settlement service (“RTGS”) called “FedNow.” The service, expected to launch in 2023 or 2024,...more

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