Banking & Financial Services E-Note - July 2014

In This Issue:

- New Rule Will Require Banks to Provision for Bad Loans Earlier

- Four Years After Dodd-Frank, Law Still Unfinished

- Senate Panel to Review Borrowing of 'Too Big to Fail' Banks

- Community Banks Want Relief from Quarterly 'Call Reports'

- TRIA Amendment Requires Fed Board to Have Community Banker

- CFPB Takes on Complaints About Prepaid Cards

- Despite Legality, Banks Shunning Marijuana Business

- Excerpt from New Rule Will Require Banks to Provision for Bad Loans Earlier:

Banks must provision for souring loans much earlier than before under an international rule that will take effect in 2018, a decade after a global financial crisis the accounting reform seeks to stop. The collapse of Lehman Bros in 2008 highlighted how little capital banks held to cover a slump in the value of the assets on their books, forcing the public to bail out many lenders.

Please see full E-Note below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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