Banking & Financial Services E-Note - July 31, 2013

In This Issue:

- Fed "Reviewing" Banks' Trading in Physical Commodity Markets

- Senate Passes Student Loan Bill With House Expected to Follow Suit

- Senators Introduce 21st Century Glass-Steagall Act

- Regulators Push for Tougher Bank Capital Standards than Basel

- Senators Ask CFPB to Examine ATM-Style Pay Cards

- Banks Adding Risk Experts to Boards Per Dodd-Frank Rules

Excerpt from Fed "Reviewing" Banks' Trading in Physical Commodity Markets:

The Federal Reserve is "reviewing" a landmark 2003 decision that first allowed regulatedbanks to trade in physical commodity markets, it said, a move that may send newshockwaves through Wall Street. The one-sentence statement suggests the Fed is taking a much deeper, wide-ranging look at how banks operate in commodity marketsthan previously believed, amid intensifying scrutiny of everything from electricity tradingto metals warehouses.

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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