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  • Article

    Federal Reserve Board Extends Volcker Rule Conformance Period

    On December 18, 2014, the Federal Reserve Board announced that under section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), also known as the Volcker Rule, banking entities will be given until July 21, 2016 to conform their relationships and investments in legacy covered funds (those in place before December 31, 2014).
    United StatesFinance and Banking
    A&O Shearman
    A&O Shearman
  • Article

    Final Guidance For Medium-Sized Firms On Dodd-Frank Stress Tests

    On March 5, the Fed, the FDIC, and the OCC issued final guidance which describes supervisory expectations for stress tests to be conducted by financial companies with between $10 and $50 billion in total assets.
    United StatesFinance and Banking
    Orrick
    Orrick
  • Article

    Financial Institutions Regulatory Partner Douglas Landy Comments On Proposed Volcker Rule Changes In New York Times

    On May 30, the Federal Reserve unveiled their proposed update to the Volcker Rule, which would give banks additional ability to make markets, hedge trades and make certain other investments.
    United StatesFinance and Banking
    Milbank
    Milbank
  • Article

    Financial Services Committee Chair Bemoans "Dodd-Frank's Unhappy Anniversary"

    Financial Services Committee Chair Jeb Hensarling stated that "[i]nstead of ending 'too big to fail,' Dodd-Frank has created 'too small to succeed.'"
    United StatesFinance and Banking
    Hogan Lovells Cadwalader
    Hogan Lovells Cadwalader
  • Article

    FRB And CFPB Adopt Amendments To Adjust Funds Availability For Inflation

    The Federal Reserve Board and the CFPB adopted amendments to Regulation CC, implementing a requirement for certain dollar amounts and thresholds to be inflation-adjusted periodically.
    United StatesFinance and Banking
    Hogan Lovells Cadwalader
    Hogan Lovells Cadwalader
  • Article

    FRB Identifies Error In Historical Dataset In 2019 Stress Tests

    The Federal Reserve Board ("FRB") identified an error in the historical dataset utilized in its 2019 stress tests.
    United StatesFinance and Banking
    Hogan Lovells Cadwalader
    Hogan Lovells Cadwalader
  • Article

    FTC Proposes Rule Implementing Free Credit Monitoring For Active Duty Military Consumers

    The Federal Trade Commission ("FTC") proposed a rule requiring nationwide consumer reporting agencies ("CRAs") to provide a free electronic credit monitoring service for active duty military consumers.
    United StatesFinance and Banking
    Hogan Lovells Cadwalader
    Hogan Lovells Cadwalader
  • Article

    House Financial Services Subcommittee Considers Banking Charters And Technology Innovation

    The U.S. House Financial Services Subcommittee on Consumer Protection and Financial Institutions held a hearing to consider proposed legislation on novel financial institution charters such as industrial loan companies.
    United StatesFinance and Banking
    Hogan Lovells Cadwalader
    Hogan Lovells Cadwalader
  • Article

    House Votes To Nix Indirect Auto Bulletin And Expand QM

    The White House issued separate Statements of Administrative Policy that "strongly oppose[]" both the indirect auto and QM bills.
    United StatesFinance and Banking
    Morrison Foerster
    Morrison Foerster
  • Article

    Massachusetts AG Enters Into $7.6 Million Settlement With Auto Dealer

    On February 2, 2023, the Massachusetts Attorney General's Office (Massachusetts AG) announced that it had entered into a settlement with an auto dealer to resolve allegations...
    United StatesFinance and Banking
    Goodwin Procter LLP
    Goodwin Procter LLP
  • Article

    Memphis Bank Settles Allegations Of Discriminating Against Majority-Black And Hispanic Neighborhoods

    The Consumer Financial Protection Bureau ("CFPB") and U.S. Department of Justice ("DOJ") reached a settlement with Trustmark National Bank...
    United StatesFinance and Banking
    Cozen O'Connor
    Cozen O'Connor
  • Article

    New Executive Compensation Rule At-A-Glance

    On April 21, 2016, the National Credit Union Administration approved a proposed rule on incentive compensation under Section 956 of the Dodd-Frank Act.
    United StatesFinance and Banking
    Morrison Foerster
    Morrison Foerster
  • Article

    OCC Extends Dodd-Frank Act Stress Test Requirements Through November 25

    The Office of the Comptroller of the Currency (OCC) announced that the deadline to comply with Dodd-Frank Act Stress Test (DFAST) requirements will be extended to November 25, and thereafter will be discontinued.
    United StatesFinance and Banking
    Orrick
    Orrick
  • Article

    OCC Issues Interim Examination Procedures To Assess Compliance With The Volcker Rule

    The OCC announced that it is issuing interim procedures for examiners to assess banks’ progress in developing a framework to comply with the Dodd-Frank Act.
    United StatesFinance and Banking
    A&O Shearman
    A&O Shearman
  • Article

    OCC Proposes Removal Of Credit Rating References

    On Tuesday, November 29, 2011, the Office of the Comptroller of the Currency ("OCC") proposed a rule to remove references to credit ratings from various OCC regulations and related guidance to national banks and federal savings associations in meeting due diligence requirements in assessing credit risk for portfolio investments.
    United StatesFinance and Banking
    Perkins Coie LLP
    Perkins Coie LLP
  • Article

    Publication Of Resolution Plans

    On January 10, the Fed and the FDIC made available public portions of resolution plans for 116 institutions which are regulated by the Fed and the FDIC and required to submit resolution plans by the Dodd-Frank Act.
    United StatesFinance and Banking
    Orrick
    Orrick
  • Article

    Regulators Expand Eligibility for Extended On-Site Examination Cycle

    Through an interim final rule, the Office of the Comptroller of the Currency, the Federal Reserve Board and the FDIC (collectively, the "agencies") increased the asset threshold from $1 billion to $3 billion for qualifying insured depository institutions ("IDIs") to be eligible for an 18-month on-site examination cycle.
    United StatesFinance and Banking
    Hogan Lovells Cadwalader
    Hogan Lovells Cadwalader
  • Article

    Representative Waters Calls On New CFPB Director To Enforce Military Lending Act

    Representative Maxine Waters (D-CA), along with various other Representatives, requested a written commitment from newly confirmed Consumer of Financial Protection Bureau ...
    United StatesFinance and Banking
    Hogan Lovells Cadwalader
    Hogan Lovells Cadwalader
  • Article

    Ruff Day For Dog Leasing Company In Massachusetts Settlement

    Under the terms of the Assurance of Discontinuance, Monterey Financial must terminate all Massachusetts leases effective since January 29, 2016 ...
    United StatesFinance and Banking
    Cozen O'Connor
    Cozen O'Connor
  • Article

    SEC Proposes Additional Regulations For Credit Rating Agencies And For Third-Party Due Diligence Providers, Issuers And Underwriters Of Asset-Backed Securities

    The SEC issued a 517-page release proposing (i) amendments to existing rules and (ii) new rules, that would apply to credit rating agencies registered with the SEC as nationally recognized statistical rating organizations ("NRSROs").
    United StatesFinance and Banking
    Goodwin Procter LLP
    Goodwin Procter LLP
  • Showing 221–240 of 5735 results

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