Banking Sector

News & Analysis as of

Locke Lord QuickStudy: OCC Integrates Licensing Rules for National Banks and Federal Savings Associations

On May 18, 2015, the Office of the Comptroller of the Currency (OCC) released a final rule to integrate the policies and procedures for corporate activities and transactions of national banks and Federal savings associations....more

A Regulatory Reform Glossary

Since the financial crisis, financial institutions have been required to address significant regulatory changes. The new regulatory framework in the United States and Europe has introduced a series of new terms. This brief...more

Financial Regulatory Developments Focus - May 2015 #3

In This Issue: - Application of EU Requirements for Remuneration Policies for Small and Non-Complex Firms Confirmed - US Regulators Issue the Final Interpretation on Forward Contracts with Embedded Volumetric...more

FDIC Hosts Teleconference on CFPB Mortgage Rules

On May 21, the FDIC’s Division of Depositor and Consumer Protection is scheduled to host a teleconference that will focus on the implementation of the new mortgage rules issued by the CFPB in 2013. According to the FDIC,...more

Paying to Cash Your Check – Bank Fees in Florida Are Now the Norm

Your client, an individual, walks into Friendly Bank and presents for payment a check in the amount of $100.00, drawn on Friendly Bank and payable to the order of your client. The bank teller asks if your client has an...more

Federal Agencies Issue Final Rule on Standards for Appraisal Management Companies

The CFPB along with five other federal agencies have issued a final rule that establishes minimum state registration and substantive requirements for appraisal management companies (AMCs), as required by Section 1473 of the...more

The Construct - May 2015

In This Issue: - Construction Contract Claims Against a Third-Party Lender? The Unforeseen Consequences of a Standard Practice: For those of us who commonly represent lenders, there is nothing more unsettling...more

Corporate & Financial Weekly Digest - Volume X, Issue 19

In This Issue: - FINRA's NAC Strengthens Sanction Guidelines Related to Fraud and Suitability - CFTC Revises Interpretation on Forward Contracts with Embedded Volumetric Optionality - CFTC Requests Public...more

Bipartisan House Bill Introduced To Create Temporary Safe Harbor from Enforcement of TILA-RESPA Integrated Disclosure Rules

Republican Congressman Steve Pearce and Democratic Congressman Brad Sherman have introduced a bill in the House of Representatives (H.R. 2213) that would provide lenders with a temporary safe harbor from enforcement of the...more

The End of Bank Enforcement Titles and New Perspective at Distressed Debt Market in Poland

On April 14, 2015 the Polish Constitutional Tribunal has analyzed the constitutional status of bank enforcement titles (“BETs”). The idea behind BETs is quite simple – create a shortcut for banks to accelerate the debt...more

EBA Final Report on Guidelines on Triggers for Use of Early Intervention Measures Under BRRD

On May 8, 2015, the European Banking Authority (EBA) published its final report (EBA/GL/2015/03) on guidelines on triggers for the use of early intervention measures under Article 27(4) of the Bank Recovery and Resolution...more

FinCEN Flexes Its Muscles

The Treasury Department’s Financial Crimes Enforcement Network has been flexing its muscles lately to remind everyone of its important role in money laundering enforcement. Jennifer Shasky, the current Director, a former...more

Revisions to the Securitisation Framework: Final Rules published by the Basel Committee

The Basel Committee on Banking Supervision (the “Basel Committee”) has published the revised securitisation framework setting out the standards for regulatory capital requirements for securitisation exposures held in the...more

Financial Regulatory Developments Focus - May 2015 #2

In this issue: - US Federal Reserve Board Releases Semiannual Report on Banking Applications Activity - European Banking Authority Monitors Additional Tier 1 Capital Instruments - European Banking...more

CFPB extends comment period on credit card issues

In March 2015, the CFPB issued a request for information on 12 topics relating to the credit card market. The request set a due date of May 18, 2015 for comments. In a notice published in yesterday’s Federal Register, the...more

China Regulatory Enforcement Quarterly - Q1 – 2015 |

Inside This Issue: - Executive Summary - PRC Legal and Regulatory Updates - Major Enforcement News - China Communist Party Titles 101 - AIC Penalties Increase Risk of Dual Enforcement Actions - Frequently Asked...more

TCPA FCC Petitions Tracker

Kelley Drye’s Communications Practice Group presents this comprehensive tracker of active Telephone Consumer Protection Act (“TCPA”) petitions before the Federal Communications Commission (“FCC”). ...more

Bank Recovery and Resolution Directive – Implications for Repo and Derivative Counterparties

The Bank Recovery and Resolution Directive (BRRD) introduces an EU-wide regime for recovery and resolution planning for, and for resolution action to be taken in respect of, banks and large investment firms (typically the...more

Recent Nevada Supreme Court Opinions Impact Deficiency Actions

The Nevada Supreme Court recently issued two significant opinions that impact deficiency judgment actions in Nevada, and is preparing to issue a third. In Munoz v. Branch Banking and Trust Company, Inc., the Court held that...more

CFPB Proposal To End “Payday Debt Traps” Meets Serious Criticism

A recently released Consumer Financial Protection Bureau (CFPB) plan meant to end “payday debt traps” is meeting serious criticism from industry experts who say the rule, as proposed, would seriously limit short-term...more

CSBS Announces Multi-State Regulatory Groups’ Annual Reports to State Regulators

On April 27, the Conference of State Bank Supervisors (CSBS) announced that three working groups of state regulators – the State Coordinating Committee (SCC), the Multi-State Mortgage Committee (MMC), and the Multi-State MSB...more

Banking Technology: Finding the Balance Between Cost-Effectiveness and Manageability

As the range of technology employed by the UK's leading banks widens, the balance between cost-effectiveness and manageability of solutions becomes increasingly difficult to strike. Mike Pierides (Partner) and Rich Jones...more

Financial Regulatory Developments Focus - May 2015

In this issue: - US Federal Banking Agencies Issue Guidance on Regulation Z and Regulation X - European Banking Authority Consults on Identification Methodology for Global Systemically Important Institutions...more

[Event] Breakfast With Your Finance & Bankruptcy Lawyers: The Risks and Rewards of Financings in Europe - May 13, New York, NY

This breakfast session is jointly presented by Sheppard Mullin and Bird & Bird LLP, and will look at the key issues to consider when structuring financings involving European counterparties and examine whether there are real...more

Foreclosure Attempt Blocked? What You Should Know Before the Clock Hits Zero

Just when you thought we were out of the housing crisis weeds of ’07—think again.  Apparently when an abundance of people buy homes they can’t afford and predictably fall behind on their payments, the judicial foreclosure...more

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