Dodd-Frank Banking
CFPB Launches Inquiry Into Overdraft Practices
Banking, Consumer Protection The Consumer Financial Protection Bureau, or CFPB, has launched an inquiry into checking account overdraft programs to determine how these practices are impacting consumers. As part of that inquiry, the CFPB is seeking public input on a prototype “penalty fee box” – a disclosure on a consumer’s checking account statement that would highlight the amount [...] Read more →
CFPB Proposes Rule to Supervise Consumer Debt Collection and Consumer Reporting Markets
Banking, Consumer Protection The Consumer Financial Protection Bureau, or CFPB, has announced a proposed rule to include debt collectors and consumer reporting agencies under its nonbank supervision program.... Read more →
ABA Dodd-Frank Guide for Community Banks
Banking The American Bankers Association has published a useful guide for community banks on the Dodd-Frank Act. The guide summarizes a number of key areas of concern. Check... Read more →
CFPB Seeks Input on Monthly Mortgage Statement
Banking, Consumer Protection The Consumer Financial Protection Bureau, or CFPB, is seeking public input on a draft monthly mortgage statement that is designed to make it easier for homeowners to understand... Read more →
FSOC Moves to Stage Two on Financial Market Utilities
Banking In July 2011, the Financial Stability Oversight Council, or FSOC, adopted rules pursuant to Section 804 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The... Read more →
MSRB Advocates Expansion of Volker Rule Exemption
Banking, Broker-Dealer The Municipal Securities Rulemaking Board, or MSRB, urged expansion of the exemption for governmental obligations in the proposed Volker Rule because the MSRB is concerned that a... Read more →
GAO Releases Report on Bank Holding Company Act Exemptions
Banking The Dodd-Frank Act required the Government Accountability Office (GAO) to study the implications of removing existing exemptions from the definition of “bank” under the Bank... Read more →
Progress on Global Legal Entity Identifier Initiative
Banking, Broker-Dealer, Insurance, Public Companies and Securities During the financial crisis, market participants and regulators did not have the information they needed to assess exposures to risky or failing companies globally. In the United... Read more →
CFPB Adopts Rule to Protect Consumers Sending Money Internationally
Banking, Consumer Protection The Consumer Financial Protection Bureau, or CFPB, has adopted a rule that will increase protections for consumers who transfer money internationally. Under the new rule,... Read more →
FDIC Board Proposes Stress Testing Regulation for Large Banks
Banking The FDIC has approved a notice of proposed rulemaking, or NPR, that would require certain large insured depository institutions to conduct annual capital-adequacy stress tests.... Read more →