News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act FRB

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Troutman Pepper

Federal Agencies Announce Increased Regulations Z and M Dollar Thresholds for Exempt Consumer Credit and Lease Transactions, and...

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On November 13, the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board (Fed) announced increased dollar thresholds used to determine whether certain consumer credit and lease transactions in 2024 are...more

Troutman Pepper

FSOC Votes Unanimously to Finalize Process for Designating Nonbanks for Federal Reserve Supervision

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On November 3, the Financial Stability Oversight Council (FSOC) voted unanimously to finalize the procedures for designating a nonbank financial company for Federal Reserve supervision. FSOC’s Interpretive Guidance aims to...more

BCLP

Lower Debit Card Fees for Merchants

BCLP on

The Federal Reserve Board (“FRB”) proposes to lower fees for debit card purchases. The FRB announced proposed rulemaking to reset its Durbin Amendment cap on interchange fees to 17.7 cents on an average transaction from 24.5...more

Cadwalader, Wickersham & Taft LLP

Federal Reserve Board Proposes Adjusting Debit Interchange Caps in Accordance with the Durbin Amendment

The Federal Reserve Board announced proposed changes to Regulation II (Debit Card Interchange Fees and Routing), which is the implementing regulation of the Durbin Amendment to the Dodd-Frank Act....more

Latham & Watkins LLP

White House Recommends Stricter Regulations for Large Regional Banks

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President Biden is calling for tougher standards and supervision for large regional banks in the wake of recent instability in the US banking sector. On March 30, 2023, the White House issued a Fact Sheet calling on the...more

Cadwalader, Wickersham & Taft LLP

FRB and OCC Release 2023 Stress Test Scenarios

The Federal Reserve Board (“FRB”) and Office of the Comptroller of the Currency (“OCC”) last week released their 2023 Dodd-Frank Act Stress Test (“DFAST”) scenarios. As noted in the FRB’s release, the “stress tests help...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Climate-Related Financial Risk 2021: Financial Stability Oversight Council Report

The Financial Stability Oversight Council (“FSOC”) issued a document on October 21st titled: Report on Climate-Related Financial Risk 2021 (“Report”) The Report was issued in response to the Biden Administration’s Executive...more

Ballard Spahr LLP

Federal and State Banking Regulators Issue New Examination Procedures on Sampling Methodologies, UDAP/UDAAP, and CARES Act

Ballard Spahr LLP on

Recently, the federal banking regulators issued four new sets of examination procedures. The OCC issued two significant examination booklets on sampling methodologies and UDAP/UDAAP, and the federal banking regulators,...more

White & Case LLP

COVID-19 Response: Federal Reserve liquidity facilities

White & Case LLP on

Section 13(3) of the Federal Reserve Act authorizes the Federal Reserve Board (FRB) in “unusual and exigent circumstances” to establish programs or facilities with “broad-based eligibility” that allow a Federal Reserve Bank...more

Hogan Lovells

Federal Reserve previews forthcoming insurance capital rules

Hogan Lovells on

In prepared remarks before the American Council of Life Insurer's Executive Roundtable (Naples, Florida, 9 January 2019), Federal Reserve Board (FRB) Vice Chairman for Supervision Randal Quarles provided the insurance...more

Cadwalader, Wickersham & Taft LLP

Court of Appeals Decision: Managers of Open-Market CLOs Not Subject to Dodd-Frank Risk Retention

On February 9, 2018, a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit unanimously ruled in favor of the Loan Syndications and Trading Association (“LSTA”) in its lawsuit against the...more

Orrick - Finance 20/20

Federal Reserve Board Releases Results of Supervisory Bank Stress Tests

Orrick - Finance 20/20 on

On June 22, 2017, the Federal Reserve Board released the results of its annual supervisory stress tests conducted on 34 bank holding companies. According to the results, the nation’s largest bank holding companies have strong...more

Orrick - Finance 20/20

Federal Reserve Board Approves Extended Transition Period for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to Conform...

Orrick - Finance 20/20 on

On June 7, 2017, the Federal Reserve Board authorized an extension of up to five (5) years for Deutsche Bank AG, SVB Financial Group, and UBS Group AG to comply with certain aspects of the Dodd-Frank Wall Street Reform and...more

Orrick - Finance 20/20

Federal Reserve Board Provides New Details on Volcker Rule’s Illiquid Funds Requirements

Orrick - Finance 20/20 on

On December 12, 2016, the Federal Reserve Board announced additional details regarding how banking entities may seek an extension to conform their investments in a narrow class of funds that qualify as “illiquid funds” to the...more

Dechert LLP

US Federal Reserve Board Begins the Process of Regulating Insurance Companies

Dechert LLP on

Nearly six years after the adoption of Dodd-Frank’s Title I, which provides for the regulation by the Board of Governors of the Federal Reserve System (Board) of non-bank financial companies – such as insurance companies,...more

Troutman Pepper

Observation 3.0: Frequently Asked Questions and Answers on the Volcker Rule and the Implications for Foreign Banks Investing in...

Troutman Pepper on

1. Question: What is the Volcker Rule, and when does it take effect? Answer: The Volcker Rule was enacted into law as section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank...more

Stinson - Corporate & Securities Law Blog

Fed Approves Rule Requiring Largest Banks To Further Strengthen Capital

The Federal Reserve Board approved a final rule requiring the largest, most systemically important U.S. bank holding companies to further strengthen their capital positions. Under the rule, a firm that is identified as a...more

Williams Mullen

FRB Issues Proposed Rules to Repeal Regulation AA, as Required by Dodd-Frank

Williams Mullen on

On Wednesday, August 27, the Board of Governors of the Federal Reserve System (the “Board”) published in the Federal Register proposed rules and a request for public comment to repeal its Regulation AA (Unfair or Deceptive...more

Goodwin

FRB Governor Tarullo Offers Retrospective and Perspective on Supervisory Stress Testing

Goodwin on

In remarks delivered to the FRB’s Third Annual Stress Test Modeling Symposium FRB Governor Daniel K. Tarullo focused on the “qualitative assessment of [large] firms’ capital planning processes” that the FRB conducts “in...more

Goodwin

Federal Agencies Reviewing Treatment under Volcker Rule of Collateralized Debt Obligations Backed by TruPS

Goodwin on

On December 27, 2013, the FRB, FDIC, OCC and SEC (the “Agencies”) jointly issued a statement which advised financial institutions that the Agencies were reviewing, in response to concerns expressed by community banks and...more

Goodwin

Banking Regulators Say That Volcker Rule Does Not Require Immediate Sale of Collateralized Debt Obligations Backed by Trust...

Goodwin on

The FRB, the FDIC, and the OCC (the “Agencies”) issued a joint FAQ clarifying certain aspects of the treatment of interests in collateralized debt obligations backed by trust preferred securities (“TruPS CDOs”) under the...more

Goodwin

Agencies Re-Propose Rule Implementing Risk Retention Requirements of Dodd-Frank Act

Goodwin on

On August 28, 2013, the FDIC, OCC, FRB, SEC, Federal Housing Finance Agency, and Department of Housing and Urban Development (collectively, the “Agencies”) issued a second Notice of Proposed Rulemaking (the “revised...more

Goodwin

Federal Regulators Issue Proposal to Revise Qualified Residential Mortgage Rule

Goodwin on

Collectively, the FDIC, the OCC, FRB, SEC, FHFA, and HUD issued a second proposal Notice of Proposed Rulemaking to implement the risk retention requirements of the Dodd-Frank Act. Section 941 of the Dodd-Frank Act amended...more

Perkins Coie

Financial Services Bulletin: Action At The SEC, FRB, FDIC, And OCC

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The SEC Adopts First JOBS Act Rules - On Wednesday, July 10, 2013, the Securities and Exchange Commission (the “SEC”) adopted amendments to Rule 506 of Regulation D and Rule 144A under the Securities Act of 1933 to...more

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