Dodd-Frank Banking
Banking Agencies Clarify Stress Testing and Address Obligations of Community Banks
Banking The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation issued final supervisory guidance regarding stress-testing practices at banking organizations with total consolidated assets of more than $10 billion. The guidance does not implement the stress testing requirements in the Dodd-Frank Wall Street Reform and Consumer Protection [...] Read more →
CFPB Examining Arbitration
Banking, Consumer Protection The Consumer Financial Protection Bureau, or CFPB, has launched a public inquiry into how consumers and financial services companies are affected by arbitration and arbitration... Read more →
CFPB Promises Enforcement Against Discriminatory Lending Practices
Banking, Consumer Protection The CFPB has reminded lending institutions under its jurisdiction it is responsible for enforcing the Equal Credit Opportunity Act. In public statements, officials of the CFPB... Read more →
CFTC and SEC Approve Final Rule Defining “Swap Dealer”
Banking, Derivatives, Energy By a 4-1 vote today, the CFTC approved release of a rule defining the terms “swap dealer” (“SD”), “major swap participant” (“MSP”), and eligible contract... Read more →
FSOC Approves Rule to Designate Nonbank Financial Companies for Enhanced Oversight
Banking, Broker-Dealer, Insurance, Investment Advisers Section 113 of the Dodd-Frank Act authorizes the Financial Stability Oversight Council, or FSOC, to require a nonbank financial company to be supervised by the Board of Governors... Read more →
CFPB Permits Contributions to Qualified Plans Under Loan Originator Compensation Rules
Banking, Consumer Protection The Consumer Finacial Protection Bureau, or CFPB, has issued a bulletin in response to several inquiries the CFPB has received regarding the payment of compensation to loan... Read more →
Fed Seeks Comment on Requirements for Determining Whether a Company is Predominantly Engaged in Financial Activities
Banking The Federal Reserve Board has requested comment on a proposed amendment to the Board’s Notice of Proposed Rulemaking, or NPR, issued February 11, 2011, to establish... Read more →
JOBS Act on the Way
Banking, Broker-Dealer, Private Equity, Public Companies and Securities The House of Representatives has passed the Senate version of the Jumpstart Our Business Startups Act ,or JOBS Act, and President Obama is expected to sign the legislation. Some... Read more →
FDIC Approves Two Notices of Proposed Rulemaking
Banking The FDIC Board has approved two Notices of Proposed Rulemaking. The first would implement section 201(c)(16) of the Dodd-Frank Act, which permits the FDIC as receiver for a... Read more →
CFPB Sharing Complaints With FTC
Banking, Consumer Protection The Dodd-Frank Act requires the CFPB to share consumer complaint information with the Federal Trade Commission, or FTC, and other state and federal agencies. Last August, the... Read more →