Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 25 FEBRUARY 2014

Federal Reserve Board Seeks Comment On Changes To Consumer Finance Laws

McGuireWoods LLP
Explore more from McGuireWoods LLP

On Feb. 12, the Federal Reserve Board requested comment on proposals to repeal its Regulation DD and Regulation P, as well as amend its Regulation V.

United StatesFinance and Banking
Donald Gibson Jr.
Donald Gibson Jr.
John Servidio
John Servidio
Ryan Taylor
Ryan Taylor
Amy Worley
Amy Worley

On Feb. 12, the Federal Reserve Board (FRB) requested comment on proposals to repeal its Regulation DD (Truth in Savings) and Regulation P (Privacy of Consumer Financial Information), as well as amend its Regulation V (Fair Credit Reporting).

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) transferred rulemaking and enforcement authority of certain consumer financial protection laws from the FRB to the Consumer Financial Protection Bureau (CFPB). The CFPB has issued interim final rules that are substantially identical to the FRB's Regulation DD and Regulation P. Therefore, FRB is proposing to repeal its versions of Regulation DD and Regulation P. Community banks and other financial institutions may want to consider potential changes in enforcement activity relating to truth in savings and consumer privacy rules under the CFPB's authority.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

SEC Advances “Responsible Retailization” Through A Potential Accredited Investor Exam And Potential Regulated Fund Reforms

On September 30, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals and five notices aimed at expanding investors’ access to private markets. The package would add ways to qualify as an accredited investor, including passing a new exam administered by the Financial Industry Regulatory Authority (FINRA), broaden performance-based compensation and modernize regulated funds, including interval funds and business development companies (BDCs).
United StatesFinance and Banking
Proskauer Rose LLP
Proskauer Rose LLP
Article

SEC Proposes Rule Amendments To Expand Retail Access To Private Markets

The SEC has proposed sweeping amendments to expand retail investor access to private market strategies, including changes to performance-based compensation rules for registered investment advisers and modernization of the interval fund framework. The proposals also explore new credential-based pathways for individuals to qualify as accredited investors, potentially opening private offerings to a broader pool of eligible participants.
United StatesFinance and Banking
Duane Morris LLP
Duane Morris LLP
Article

OCC Issues Examiner Framework For Banks’ Use Of Artificial Intelligence

The Office of the Comptroller of the Currency has released a new framework for evaluating banks' deployment of artificial intelligence and agentic AI systems in their business operations. This guidance establishes how examiners will assess AI through existing risk management disciplines rather than creating separate regulatory requirements, with review intensity scaled to each use case's potential consequences and level of human oversight.
United StatesFinance and Banking
Sheppard
Sheppard
Article

SEC Approves FINRA’s New “Outside Activities” Rule

The Securities and Exchange Commission has approved FINRA Rule 3290, which will replace existing rules governing outside business activities and private securities transactions for registered persons. This new rule narrows the scope to focus on investment-related activities while maintaining similar supervisory obligations for member firms. Understanding the key changes and implementation requirements will be critical for broker-dealers as they update their compliance policies and procedures.
United StatesFinance and Banking
WilmerHale
WilmerHale
Article

Requirements For Municipal Separate Storm Sewer Systems In Virginia

If a county, city or town contributes a pollutant of concern to a waterbody it may need to modify its municipal stormwater management program to meet state and federal National Pollutant Discharge Elimination System (NPDES) regulations. Chesapeake Bay Total Maximum Daily Load (TMDL) and the Virginia Watershed Implementation Plan (WIP) will require MS4 communities to make improvements and retrofits to existing stormwater management programs.
United StatesEnvironment
McGuireWoods LLP
McGuireWoods LLP