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Proposed Amendments Public Comment Financial Institutions

Troutman Pepper Locke

The Reversals Continue: CFPB Proposes Rescission of Supervisory Designation Amendments

Troutman Pepper Locke on

On May 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule to rescind amendments to its Procedures for Supervisory Designation Proceedings, originally adopted in 2022 and 2024. This...more

Ballard Spahr LLP

FDIC Seeking Comments on Industrial Bank Rule Changes

Ballard Spahr LLP on

The FDIC is seeking comment on proposed changes to its regulation governing parent companies of industrial banks and industrial loan companies—Part 354 of the FDIC Rules and Regulations....more

Davis Wright Tremaine LLP

New York Department of Financial Services Proposes Significant Amendments to its Cybersecurity Regulation

The New York Department of Financial Services (NYDFS) has proposed significant amendments (Proposed Amendments) to its Cybersecurity Requirements for Financial Services Companies (Cybersecurity Regulation)....more

Goodwin

Stress Test Scenarios Released for 2022

Goodwin on

In This Issue. The Federal Reserve Board of Governors (Federal Reserve), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released stress test scenarios to assess...more

Goodwin

Agencies Launch Digital Identity Tech Sprint

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC), the FDIC Tech Lab (FDITECH) and the Financial Crimes Enforcement Network (FinCEN) launched a digital identity Tech Sprint; FinCEN published a 60-day notice to...more

White & Case LLP

FinCEN Invites Comments on Anti-Money Laundering Program Effectiveness

White & Case LLP on

On September 16, the US Financial Crimes Enforcement Network (FinCEN) issued an advance notice of proposed rulemaking (ANPRM) seeking to update the US anti-money laundering (AML) regime. This is an historic opportunity for...more

Hudson Cook, LLP

FTC Hosts Workshop to Examine Proposed Changes to Its Safeguards Rule

Hudson Cook, LLP on

The Federal Trade Commission held a virtual workshop on July 13, 2020, to examine its proposed amendments to the Safeguards Rule. The Safeguards Rule, promulgated under the Gramm-Leach-Bliley Act, requires financial...more

White & Case LLP

Draft regulation with provisional simplification of KYC measures for the banking sector in Mexico

White & Case LLP on

On Sunday June 21, 2020, the Mexican Banking and Securities Commission ("CNBV") ?in charge of the anti-money laundering and counter-financing of terrorism ("AML/CFT") supervision of the banking sector in Mexico? communicated...more

BCLP

Last Chance for Financial Companies to Weigh in On New FTC Data Security Standards

BCLP on

For the first time in 17 years, the FTC is proposing significant increases to the information security standards which apply to those financial institutions that are regulated by the FTC and are not already subject to similar...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - December 2018

In this month's edition of our Privacy & Cybersecurity Update, we examine the European Commission's second annual review of the Privacy Shield and the Department of Commerce's guidance on how to comply with the Privacy Shield...more

Bracewell LLP

Federal Regulators Unveil Proposed Cybersecurity Standards for Large Financial Firms

Bracewell LLP on

On October 19, 2016, federal regulators issued an Advance Notice of Proposed Rulemaking titled “Enhanced Cyber Risk Management Standards.” The draft standards, jointly released by the Federal Reserve, the Federal Deposit...more

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