Compliance into the Weeds: Settlement of OCC Charges for Wells Fargo Internal Auditors
Strengthening Compliance: Lessons From the OCC's Consent Order With Patriot Bank — Payments Pros – The Payments Law Podcast
2024 Payments Year in Review: CFPB and FTC Regulatory Trends – Part Four — Payments Pros – The Payments Law Podcast
Compliance Tip of the Day: TD Bank Lessons Learned – The Penalty of Growth Restrictions
Climate Risk, the emerging risk
Consumer Finance Monitor Podcast Episode: Community Reinvestment Act Reform: A Close Look at the Final Rule
Consumer Finance Monitor Podcast Episode: What the Recent Developments in Federal Preemption for National and State Banks Mean for Bank and Nonbank Consumer Financial Services Providers
Federal Banking Interagency Final Guidance on Third-Party Relationships - The Consumer Finance Podcast
Corruption, Crime and Compliance : CFPB and OCC Hit Bank of America with $250 Million Penalty for Consumer Abuse Practices
CFPB's Section 1071 Final Rule (Part 3): Potential Problem Areas – The Consumer Finance Podcast
Crypto Year in Review 2022: Federal Reserve and Central Bank Digital Currencies and FDIC/OCC Regulatory Developments - The Crypto Exchange Podcast
Crypto Enforcement Is Here, and Always Has Been
Congressional and Federal Agency Action Following Executive Order on Digital Assets Policy
Guidepost in Motion: Banking on Crypto
Compliance into the Weeds: Episode 161-OCC Guidance on 3rd Party Risk Management
Episode 127 -- Deep Dive into the OCC Enforcement Action Against Wells Fargo CEO and Senior Executives
Dealing with an Unsolicited Offer - The Bank Account
The Community Reinvestment Act (CRA): Recap and What to Expect in 2014
The New Normal: Taking Responsibility for Your Vendors
Before the Labor Day holiday weekend, the Federal Deposit Insurance Corporation (FDIC) updated the fair lending and unfair, deceptive act or practices (UDAP) chapters of its Consumer Compliance Examination Manual to remove...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Finance Services industry over the past week...more
In this month's article, we share some of our top "bites" for the prior month covered during the July 2023 webinar. Bite 10: Public Inquiry Launched into Credit Card and Loan Products for Healthcare Costs - On July 7,...more
June 30, 2023- President Joe Biden announced new actions aimed at providing debt and supporting student loan borrowers: i) The Secretary of Education initiated a rulemaking process aimed at opening an alternative path...more
Outlook for This Week in the Nation’s Capital - Congress. Congress is in recess to campaign for the upcoming midterms. Senate Majority Whip Dick Durbin (D-IL) on Wednesday said the Senate will focus on judicial nominations...more
In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule to increase market transparency regarding short selling and extended the comment period for its proposed rule requiring reporting on...more
Federal Court Rejects Challenges to FDIC’s and OCC’s “Valid When Made” Rules A federal court in two separate but related cases has rejected challenges to the FDIC’s and the OCC’s respective regulations that codified the...more
Welcome to the Financial Services Report, holiday style! Banks and non-banks alike started early this year with additions and changes to their regulator stockings. The Senate confirmed Rohit Chopra as the new CFPB Director....more
Federal Hearings Seek to Reverse Trump-Era Student Loan Rules - "The revisions include strengthening protections for borrowers harmed by misleading practices by their college." Why this is important: Student loan debt...more
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
In Robinson v. National Collegiate Student Loan Trust 2006-2, the U.S. District Court for the District of Massachusetts accepted the validity of the “valid when made” doctrine. The District Court’s acceptance is noteworthy...more
In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more
In the News. The Office of the Comptroller of the Currency (OCC) issued a long-awaited rule seeking comment on its proposed approach to determine the Community Reinvestment Act (CRA) evaluation measure benchmarks, retail...more
In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more
A number of diverse stakeholders gathered at George Mason University (GMU) on Nov. 18, 2019, to participate in a program entitled "Consumer Debt in America: What Would Rate Caps and Student Loan Forgiveness Mean?" The debate,...more
The Upshot helps us understand exactly what’s been going on with the markets this week and what a late-bull-market reality means for the US (and global) economy....more
Even while we’ve spent that past few weeks looking back at the origins of the 2008 financial crisis a decade later, market watchers are keeping an eye on the roots of the next one that “might already be taking hold.”...more
U.S. Financial Industry Developments - Community Reinvestment Act: Revisions to Impact of Evidence of Discriminatory or Other Illegal Credit Practices on Community Reinvestment Act Ratings... ...more
Editor's Note - Swimming Against the Tide. As discussed below, the Trump administration’s plans for financial regulatory reform are beginning to take shape, especially in agencies, such as the Securities and Exchange...more
Editor's Note - The Roundup has been on hiatus since its August 23 edition. Since then, we have had the misfortune to witness the widespread devastation inflicted by Hurricanes Harvey and Irma. Our hearts go out to the...more
Editor's Note - In this Issue. The House Financial Services Committee passed the Financial CHOICE Act that would make significant changes to the Consumer Financial Protection Bureau; the U.S. Securities and Exchange...more
Last week the Office of the Comptroller of the Currency published a “Retail Lending” booklet, a new addition to the Safety and Soundness Asset Quality category of the Comptroller’s Handbook, which discusses the risks...more
EDITOR’S NOTE - In like a lion, out like a lamb—it works for weather; does it work for new administrations? We’ll have to wait and see. We’ll have to wait and see about the length of CFPB Director Richard Cordray’s...more
SEC Approves Rules to Ease Investor Access to Exhibits in Company Filings - On March 1, 2017, the Securities and Exchange Commission (SEC) voted to adopt rule and form amendments that will require issuers to include a...more
Editor's Note - In This Issue. The New York Department of Financial Services issued its highly anticipated cybersecurity regulation in its final form, the Securities and Exchange Commission (SEC) issued updated guidance...more