Financial Services Report - Fall 2014

In This Issue:

- Beltway Report

- Bureau Report

- Mobile and Emerging Payments Report

- Mortgage and Fair Lending Report

- Operations Report

- Preemption Report

- Privacy Report

- Arbitration Report

- TCPA Report

- Excerpt from Beltway Report:

Shifting Cycles -

The Federal Reserve Board issued a notice of proposed rulemaking that would amend the capital plan and stress test rules to modify the start date of the capital plan and stress test cycles from October 1 of a calendar year to January 1 of the following calendar year. The proposed rule would revise the Board’s Policy Statement on the Scenario Design Framework for Stress Testing and the Board’s Regulation YY to reflect the revisions to the start date of the stress test cycle. The proposed rule also would make additional changes to the current rules, including limiting a bank holding company’s ability to make capital distributions to the extent that the bank holding company’s actual capital issuances are less than the amount indicated in its capital plan under quarterly baseline conditions.

Please see full publication 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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