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Regulatory Agenda › Interest Rates › Financial Institutions

Troutman Pepper Locke

Virginia’s SB 1252: Potential Impact on Banks and Fintechs

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On January 8, Senate Bill No. 1252 (SB 1252) was introduced to the Virginia General Assembly, aiming to amend and reenact sections of the Code of Virginia related to the application of usury rates. Just two weeks ago, the...more

Orrick, Herrington & Sutcliffe LLP

Fed’s Bowman emphasizes a cautious monetary policy and regulatory reform for community banks

Orrick, Herrington & Sutcliffe LLP on

On February 17, Fed Governor Michelle Bowman delivered prepared remarks, during a conference in Arizona, addressing monetary policy, the economic outlook, and regulatory issues affecting community banks. She discussed the...more

Ballard Spahr LLP

Senators Sanders, Hawley introduce legislation to cap credit card interest rates at 10%

Ballard Spahr LLP on

Sens. Bernie Sanders, I-Vt. and Josh Hawley, R-Mo. have introduced bipartisan legislation that could cap credit card interest rates at 10%....more

Orrick, Herrington & Sutcliffe LLP

Fed Member Bowman discusses challenges to mutual and community banks

Orrick, Herrington & Sutcliffe LLP on

On January 31, Fed Member Michelle Bowman addressed challenges faced by mutual banks and community banks at a New England CEO summit. Bowman provided a brief update on the state of the U.S. economy, including the rate of...more

Troutman Pepper Locke

Rhode Island and Minnesota Latest States with Bills Opting Out of Federal Banking Law Allowing Interest Rate Exportation

Troutman Pepper Locke on

On February 12, ten Rhode Island senators introduced S 2275, a bill proposing to opt Rhode Island out of §§ 521-523 of the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). On February 13, HF 3680 was...more

Cadwalader, Wickersham & Taft LLP

Federal Reserve Issues Proposed Rules under LIBOR Act

Cadwalader, Wickersham & Taft LLP on

On July 19, the Federal Reserve issued a notice of proposed rulemaking (“NPR”) that would implement the Federal LIBOR Act. The NPR focuses primarily on identifying the particular version of SOFR that will apply to legacy...more

Cadwalader, Wickersham & Taft LLP

LIBOR Federal Legislation Takes Big Step Forward

Cadwalader, Wickersham & Taft LLP on

Federal legislation addressing the transition of legacy LIBOR contracts took a big step forward when it was included in the Omnibus bill passed late last night by the House of Representatives. The bill would provide legal...more

Hogan Lovells

Securities and markets regulatory news, April 2021

Hogan Lovells on

LIBOR transition: FCA and BoE encourage switch to SONIA in sterling non-linear derivatives market - The Financial Conduct Authority (FCA) and the Bank of England (BoE) have published a joint statement announcing that they...more

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