Dodd-Frank.com

Republicans Announce Plans to Replace Dodd-Frank

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House Financial Services Committee Chairman Jeb Hensarling (R-TX) unveiled details of the Financial CHOICE Act – the Republican plan to replace the Dodd-Frank Act and promote economic growth. CHOICE stands for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs. It included the expected verbiage about ending “too big to... Read More

Topics: Banking, CFPB, Consumer Protection, Public Companies and Securities

CFPB Proposes Controversial Rule to Limit Use of Arbitration Agreements

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On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) announced a long-awaited and highly-controversial proposed rule that, if adopted, would prohibit certain financial services companies from banning consumer class actions as part of mandatory pre-dispute arbitration agreements and require companies to report certain arbitration data to the CFPB.  If... Read More

Topics: Banking, Broker-Dealer, CFPB, Consumer Protection, Litigation

Fed Wants Limits on Qualified Financial Contracts of Large Banks

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The Board of Governors of the Federal Reserve System is inviting comment on a proposed rule to promote U.S. financial stability by improving the resolvability and resilience of systemically important U.S. banking organizations and systemically important foreign banking organizations pursuant to section 165 of the Dodd-Frank Act. The proposed rule... Read More

Topics: Banking

FDIC Provides Corporate Governance Guidance to Community Banks

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The FDIC issued a special edition of Supervisory Insights, “A Community Bank Director’s Guide to Corporate Governance: 21st Century Reflections on the FDIC Pocket Guide for Directors.” This special corporate governance edition reviews the Pocket Guide and incorporates more recent guidance and technical resources to help board members effectively fulfill... Read More

Topics: Banking, Uncategorized

OFR Analyzes Changes in Regulatory Use of Credit Ratings Since Dodd-Frank

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Treasury’s Office of Financial Research has released a brief entitled “Credit Ratings in Financial Regulation: What’s Changed Since the Dodd-Frank Act?” The introductory statement notes “The use of credit ratings in financial regulation created perverse incentives for market participants and contributed to the financial crisis. As part of the Dodd-Frank... Read More

Topics: Banking, Broker-Dealer, Public Companies and Securities

New Proposed Rules on Banker Incentive Compensation Released

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The National Credit Union Administration, or NCUA, became the first of six Agencies to unveil a revised rule proposal under Section 956 of the Dodd-Frank Act: prohibiting incentive-based payment arrangements that the Agencies determine encourage inappropriate risks by certain financial institutions by providing excessive compensation or that could lead to... Read More

Topics: Banking, Broker-Dealer, Employment, Executive Compensation

FSOC to Further Study Hedge Fund Leverage

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The Financial Stability Oversight Council, or FSOC, released an update of its review of asset management products and activities.  The statement notes that its review of the use of leverage in the hedge fund industry suggests a need for further analysis of the activities of hedge funds. FSOC is creating... Read More

Topics: Banking