Dodd-Frank Blog
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 →
SEC Adopts Final Rules on Advisory Performance Fees
Investment Advisers, Private Equity The SEC has adopted a final rule on investment advisory performance fees to raise the net worth requirement for investors who pay performance fees, by excluding the value of the... 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 →
SEC Releases New Say-on-Pay CD&I
Executive Compensation, Public Companies and Securities On February 13, 2012, the SEC released new CD&I 169.07, which provides guidance on appropriate descriptions of the say-on-pay advisory vote required by Rule 14a-21 under the... 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 →
CFTC Eliminates Key Exemption From Registration as a Commodity Pool Operator
Derivatives, Investment Advisers The CFTC has eliminated the exemption from registration as a commodity pool operator, or CPO, set forth in CFTC Rule 4.13(a)(4). The Rule provided an exemption from CPO... Read more →
SEC Issues FAQs on Form ADV
Investment Advisers, Private Equity Many sponsors of private equity funds and hedge funds are scrambling to register as investment advisers with the SEC as required by the Dodd-Frank Act. The process is completed... Read more →
Goldman and Morgan Stanley Negotiate Withdrawal of Shareholder Clawback Proposal
Public Companies and Securities We previously reported Morgan Stanley sought to exclude a shareholder proposal submitted on behalf of the Comptroller of the City of New York as custodian and a trustee of several... Read more →