Dodd-Frank Banking
FSOC Holds Executive Sessions to Discuss MF Global and Europe
Banking, Derivatives The Financial Stability Oversight Council, established pursuant to the Dodd-Frank Act, has recently held executive sessions to discuss a couple of high profile topics: On October 31, 2011, FSOC convened by teleconference to discuss developments regarding MF Global. Members of the Council provided oral reports. No votes were taken during the meeting. The meeting lasted [...] Read more →
OCC Proposes Rule to Remove References to Credit Ratings and Guidance on Due Diligence Requirements
Banking The Office of the Comptroller of the Currency, or OCC, proposed a rule to remove references to credit ratings from various OCC regulations and related guidance to assist national... Read more →
Fed Issues Updated FAQs on Debit Card Interchange Fees
Banking The Federal Reserve Board has issued an updated set of frequently asked questions regarding Regulation II, which addresses debit card interchange fees and routing. The updated... Read more →
FDIC and Treasury Issue Notice of Proposed Rulemaking on the Calculation of Maximum Obligation Limitation
Banking The FDIC and Treasury have issued a notice of proposed rulemaking to implement applicable provisions of the Dodd-Frank Act. In accordance with the requirements of the Dodd-Frank... Read more →
Fed Adopts Final Rules Regarding Capital Plans and Announces Stress Tests
Banking The Federal Reserve Board has issued a final rule requiring top-tier U.S. bank holding companies with total consolidated assets of $50 billion or more to submit annual capital... Read more →
Retailers Launch Litigation on Interchange Fees, Bankers Claim Lawsuit Is Disgraceful
Banking The National Retail Federation, the Food Marketing Institute, the National Association of Convenience Stores and two retailers filed a lawsuit in federal court today saying the... Read more →
FDIC to Review Regulations in Light of Dodd-Frank
Banking On July 11, 2011, President Obama issued Executive Order 13579, “Regulation and Independent Regulatory Agencies.” The FDIC, in response, has noted it has a long-standing... Read more →
CFPB Aims to Simplify Mortgage Closing Documents
Banking, Consumer Protection The CFPB has announced the second phase of its Know Before You Owe mortgage project, which will combine the two forms consumers get before finalizing a home loan into a single,... Read more →
CFPB to Provide Early Warning of Possible Enforcement Actions
Banking, Consumer Protection The Consumer Financial Protection Bureau, or CFPB, has outlined plans to provide advance notice of potential enforcement actions to individuals and firms under investigation. The... Read more →
GAO Report on Federal Reserve Bank Governance
Banking Events surrounding the 2007 financial crisis raised questions about the governance of the twelve Federal Reserve Banks, particularly the boards of directors’ roles in activities... Read more →