Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
August 7, 2024 - The U.S. Department of the Treasury, the Consumer Financial Protection Bureau, and the Federal Trade Commission announced actions to address unfair and deceptive consumer acts and practices in the...more
August 2, 2024- The Federal Reserve Board requested comment on a proposed rule that would establish data standards for certain information collections submitted to financial regulatory agencies....more
July 18, 2024- The Consumer Financial Protection Bureau proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, could be consumer loans subject to the...more
April 8, 2024- The U.S. Department of the Treasury announced that it has signed a memorandum of understanding and cooperation in cybersecurity with the National Bank of Ukraine....more
March 27, 2024- The U.S. Department of the Treasury released a report on Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector. March 27, 2024 The Federal Reserve Bank of New...more
February 23, 2024- the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is sanctioning almost 300 individuals and entities to mark the second anniversary of the Ukraine war and in response to the...more
January 16, 2024- The Federal Reserve Board published a working paper entitled, "A Field Guide to Monetary Policy Implementation Issues in a New World with CBDC, Stablecoin, and Narrow Banks."...more
January 8, 2024- Secretary of the Treasury Janet L. Yellen gave remarks at the Financial Crimes Enforcement Network. January 8, 2024- The Federal Reserve Board released the G.19 consumer credit data for November 2023....more
December 18, 2023- The Federal Deposit Insurance Corporation issued an advisory to reemphasize the importance of strong capital, appropriate credit loss allowance levels, and robust credit risk-management practices for...more
The proposed rule, if adopted, would apply to mortgage originators and issuers of mortgage-backed securitizations that rely on automated valuation models (“AVMs”) to determine the value of real estate collateral. The...more
November 7, 2023- The Consumer Financial Protection Bureau is proposing to use its larger participant authority to supervise nonbank companies that offer services like digital wallets and payment apps....more
September 18, 2023- New York State Department of Financial Services (DFS) issued an update on an ongoing initiative to strengthen DFS oversight of virtual currencies. September 18, 2023- The Federal Reserve Bank of New...more
September 7, 2023- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "Perspectives on Challenges in the Property Insurance Market and the Impact on Consumers."...more
July 27, 2023- The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency are requesting comment on a proposal to increase the strength and...more
July 7, 2023- The Consumer Financial Protection Bureau (CFPB), U.S. Department of Health and Human Services, and U.S. Department of Treasury launched an inquiry into high-cost specialty financial products, such as medical...more
June 26, 2023- The Ranking Member of the U.S. House Committee on Financial Services sent a letter to Janet Yellen, the Secretary of the United States Treasury along with Gary Gensler, Chair of the Securities and Exchange...more
June 12, 2023 The Accountability Through Confirmation Act and the Protecting Small Business Information Act have each been introduced to reform the Financial Crimes Enforcement Network (FinCEN)....more
June 7, 2023- The U.S. Committee on Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions held a hearing entitled, "Dollar Dominance: Preserving the U.S. Dollar's...more
May 8, 2023- U.S. Senator Time Scott (R-S.C.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to the Federal Housing Finance Agency regarding its recent changes to mortgage...more
April 26, 2023- House Financial Services Committee Chairman Patrick McHenry (NC-10), Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill (AR-02), and Oversight and Investigations Subcommittee...more
February 27, 2023- The Supreme Court of the United States granted a petition for certiorari to review the Fifth Circuit's decision in October that the statute providing funding to the Consumer Financial Protection Bureau...more
January 11, 2023- The Consumer Financial Protection Bureau proposed a rule to establish a public registry of supervised nonbanks' terms and conditions in what the Bureau describes as "take it or leave it" form contracts,...more
December 28, 2022- The Federal Reserve Bank of Boston published a working paper entitled, "The Main Street Lending Program: Who Borrowed and How Have They Benefited?"...more
November 16, 2022 The U.S House Committee on Financial Services held a hearing entitled, "Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions." The...more
August 22, 2022- The Federal Reserve Bank of New York's Center for Microeconomic Data released the July 2022 SCE Labor Market Survey, which shows, among other things, a decline in transitions to a different employer,...more