In this issue:
- SEC Chair Mary Jo White Outlines Potential Changes to “Accredited Investor” Definition
- CFTC Issues Final Rules for Systemically Important Derivatives Clearing Organizations
- CFTC Issues Guidance for Swap Execution Facilities
- CFTC Provides Relief for Intended-to-Be-Cleared Swaps
- CFTC Announces Weekly Swaps Report
- Futures Industry Releases Insurance Study
- Chicago Mercantile Exchange Issues Advisory Notice on Wash Trades
- Federal Judge Reaffirms Decision to Narrow SEC’s Adviser Act Claims Against Hedge Fund
- Delaware Chancery Court Permits Shareholder to Bring Fiduciary Claim for Board’s Violation of a Stock Incentive Plan
- OCC and FDIC Issue Guidance on Deposit Advance Loans
- Federal Reserve and CFPB Announce New Thresholds for Exempt Consumer Credit and Lease Transactions
- Agencies Release a Regulatory Capital Estimation Tool for Community Banks
- Excerpt from: Federal Reserve and CFPB Announce New Thresholds for Exempt Consumer Credit and Lease Transactions:
On November 20, the Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) announced they are increasing the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) for exempt consumer credit and lease transactions. Transactions at or below the thresholds are subject to the protections of the regulations. The adjustments to the thresholds reflect the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers as of June 1, 2013 and will take effect on January 1, 2014. These increases are consistent with amendments to the Truth in Lending and Consumer Leasing laws made by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Please see full newsletter below for more information.
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Topics: Accredited Investors, Capital Estimation Tool, CFPB, CFTC, CME, Community Banks, Deposit Advances, Derivatives Clearing Organizations, FDIC, Federal Reserve, Fiduciary Duty, Fiduciary Liability, Futures, Hedge Funds, Incentive Stock Options, Investment Advisers Act of 1940, Mary Jo White, OCC, SEC, SEFs, Swap Execution Facilities, Swaps, Wash Trades
Published In: General Business Updates, Consumer Protection Updates, Finance & Banking Updates, Residential Real Estate Updates, Securities Updates
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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