In this issue:
- CFTC Expands List of Acceptable Legal Entity Identifiers
- CFTC Delays Effective Date for Clearing Exemption for Swaps Between Affiliates
- “Sophisticated Plaintiff” Found to Be Adequate Class Representative
- Securities Class Representative Cannot Object to Bankruptcy Release on Behalf of Class
- FDIC and Canada’s Deposit Insurance Corporation Sign Memorandum of Understanding
- OCC Adjusts Policy Statement to Facilitate Capital Raising by Minority Institutions
- CFPB Director Cordray Addresses Overdraft Fees
- Excerpt from: OCC Adjusts Policy Statement to Facilitate Capital Raising by Minority Institutions
On June 11, Comptroller of the Currency Thomas J. Curry told an interagency conference on minority depository institutions (MDI) and community development financial institutions that the Office of the Comptroller of the Currency (OCC) has revised its policy statement on minority institutions to make it easier for those banks and thrifts to raise capital. Minority depository institutions, or MDIs, “are sometimes unable to accept equity investment capital from some investors because their status as a minority institution would be jeopardized if the share of minority ownership fell below 50 percent.”
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