Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
June 6, 2024- The U.S. Department of the Treasury released a request for information on the Uses, Opportunities, and Risks of Artificial Intelligence (AI) in the Financial Services Sector....more
May 8, 2024- U.S. House Committee on Financial Services Chair Patrick McHenry delivered remarks on the House floor in support of H.J.Res. 109, a Congressional Review Act resolution that would overturn accounting guidance...more
December 7, 2023- U.S. Senate Committee on Banking, Housing, and Urban Affairs Ranking Member Tim Scott (R-S.C.) and Banking Committee Republicans are calling on Federal Deposit Insurance Corporation Chairman Martin...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
August 1, 2023- The Board of Governors of the Federal Reserve Systempublished a working paper entitled, "Can Measurement Error Explain Slow Productivity Growth in Construction?"...more
As we noted very briefly on Monday in our “Quick Take on a Sudden Change in the Banking Landscape,” among the various actions the government took Sunday evening to try to stabilize the banking market, the Federal Reserve...more
January 13, 2023- U.S. Secretary of the Treasury Janet L. Yellen sent a letter to all members of Congressional leadership regarding the debt limit. January 13, 2023- The UK-U.S. Financial Regulatory Working Group issued a...more
October 31, 2022- Securities and Exchange Commission Commissioner Caroline A. Crenshaw gave remarks at the inaugural ECGI Responsible Capitalism Summit entitled, "Moving Forward in Our Lane."...more
Federal Agencies- Federal Reserve Bank of New York - Business Leaders Survey - June 16, 2022- The Federal Reserve Bank of New York released the June 2022 Business Leaders Survey....more
Legislation requires rent payment plans, mortgage relief, and foreclosure and eviction moratoriums. Residential and many commercial landlords may not increase rent and must make rent payment plans available to eligible...more
On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
Many of you have read about the power of the president to invoke the Defense Production Act to acquire products or direct the activities of suppliers based on a finding that it is necessary for the federal government to...more
Federal Reserve Revises Framework for Determining Control of a Banking Organization The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more
In addition to the guidance regarding Hurricane Harvey disaster relief, the housing agencies and government-sponsored enterprises (GSEs) recently addressed the mortgage-related relief available to victims of both Hurricane...more
The depth and impact of the 2007-08 financial crisis, rooted in residential finance, have been apparent for some time. There has never been doubt that its aftermath would transform the way mortgage lending operates in the...more