In testimony before the U.S. House of Representatives Committee on Financial Services, SEC Chair Mary Jo White stated that the Netflix Section 21(a) report stands for the proposition that use of social media is acceptable “so...more
5/17/2013
- Mary Jo White Regulation FD SEC Social Media
It was another week of speculation as to when the SEC might finalize or propose any JOBS Act rule. Broc Romanek of the TheCorporateCounsel.net pointed to one article which said the current JOBS Act proposal on eliminating...more
5/13/2013
- Crowdfunding Investors JOBS Act SEC Venture Capital
A new study sponsored by the American Enterprise Institute on the impact of Dodd-Frank on community banks has been published. The study notes...more
5/8/2013
- Community Banks Dodd-Frank
Mary Jo White, now chair of the SEC, submitted a written statement in her confirmation hearing that said “First, I would work with the staff and my fellow Commissioners to finish, in as timely and smart a way as possible, the...more
5/6/2013
- Crowdfunding JOBS Act SEC
As previously noted, the Court of Appeals for the District of Columbia recently dismissed a challenge to the SEC’s resource extraction rules for lack of jurisdiction. The case was left to proceed pursuant to a previously...more
5/2/2013
- Conflict Mineral Rules Minerals Resource Extraction SEC
The CFPB has revised its rule that creates certain protections for consumers who transfer money internationally. The revisions are intended to preserve the new consumer protections provided under the rule while facilitating...more
5/1/2013
- CFPB Money Transfer
The CFPB has updated existing regulations to make it easier for spouses or partners who do not work outside of the home to qualify for credit cards....more
4/30/2013
- CFPB Credit Cards Stay-At-Home Spouses
On Thursday the SEC sent out a press release captioned “SEC Seeks to Halt Scheme Raising Investor Funds Under Guise of JOBS Act.” The action doesn’t really have anything to do with the JOBS Act, as in the sense that it seeks...more
4/29/2013
- Crowdfunding Fraud JOBS Act SEC
By May 1, all counterparties must have provided their registered swap dealers with legal classifications and representations to allow the swap dealers to comply with the CFTC’s External Business Conduct Rule (EBCR). After the...more
4/24/2013
- CFTC Deadlines ISDA Swap Dealers Swaps
Industry is ramping up efforts to comply with the Dodd-Frank Act’s conflict minerals requirements and the SEC’s final rules on the topic. Examples of supplier communications are beginning to appear in the public domain...more
4/23/2013
Reuters reports that Representative Patrick McHenry, of North Carolina, who chairs the House Financial Services oversight panel, said he believes the Securities and Exchange Commission lost its ability to enforce the ban on...more
4/22/2013
- Crowdfunding General Solicitation JOBS Act SEC
James R. Wigand, Director, Office Of Complex Financial Institutions and Richard J. Osterman, Jr., Acting General Counsel, of the FDIC testified before the Subcommittee on Oversight and Investigations; Committee on Financial...more
4/17/2013
- Dodd-Frank FDIC Stress Tests Testimony
There continues to be significant public discord amongst the Commissioners at the CFTC.
According to Commissioner Scott O’Malia “Given the vast deficit spending challenges this country is facing, I do not believe it is...more
4/15/2013
- CFTC Dodd-Frank Federal Budget Spending Cuts
The CFPB has announced four enforcement actions to end what the Bureau believes to be improper kickbacks paid by mortgage insurers to mortgage lenders in exchange for business. The CFPB filed complaints and proposed consent...more
4/8/2013
- CFPB Insurers Kickbacks Lenders Mortgages Penalties
The CFPB has released a bulletin explaining its belief that certain lenders that offer auto loans through dealerships are responsible for unlawful, discriminatory pricing. According to the CFPB, potentially discriminatory...more
3/25/2013
- Car Dealerships CFPB Fair Lending Lenders
