Federal Reserve

News & Analysis as of

Fed Proposes to Repeal Rule Regarding Unfair or Deceptive Acts or Practices

The Federal Reserve Board has requested comment on a proposal to repeal its Regulation AA regarding unfair or deceptive acts or practices. The Dodd-Frank Wall Street Reform and Consumer Protection Act repealed the...more

Federal Reserve Board Proposes to Repeal Its Regulation AA (Unfair Credit Practices)

The Board of Governors of the Federal Reserve System is requesting comment on its proposal to repeal its Regulation AA, which for nearly 30 years has prohibited banks from engaging in specified unfair and deceptive credit...more

Recent Developments in Acquisition Finance

Several recent legal and regulatory developments in the U.S. will likely alter the makeup of the group of arrangers and financiers willing to arrange and provide financing for certain highly leveraged transactions, and also...more

The Financial Report - Volume 3, No. 16 • August 21, 2014 (Global)

Discussion and Analysis - Recently, we’ve been thinking a lot about crowds. Most sources define the term “crowds” as a large group of people gathered closely together or with something in common. The Merriam-Webster...more

Financial Regulatory Developments Focus - August 2014 #3

In this issue: - Bank Prudential Regulation & Regulatory Capital - Recovery & Resolution - Events - Excerpt from Bank Prudential Regulation & Regulatory Capital: EBA Publishes New...more

Federal Reserve Bank Paper Analyzes Credit Card Fair Lending Issues

The Federal Reserve Bank of Philadelphia recently published a discussion paper on credit card fair lending risks. The paper reviews qualitative fair lending risk assessment methods and potential quantitative analysis that may...more

FRB Interpretive Letter Grants Individual an Exemption from the Major Assets Prohibition of the Interlocks Act

The FRB recently issued an interpretive letter (the “FRB Letter”) in which the FRB granted an individual director (the “Director”) an exemption from the prohibition of the Depository Institution Management Interlocks Act (the...more

Agencies Provide Feedback on Second Round Resolution Plans

On August 5, the Fed and the Board of Directors of the FDIC announced the completion of reviews of the second round of...more

OCC Publishes Final Rule that Revises the Risk-Based Capital Definition of Eligible Guarantee for Advanced Approaches Banks

The OCC, the Fed, and the FDIC have published a final rule that revises the advanced approaches risk-based capital rules by removing the requirement that only guarantees provided by certain counterparties are eligible for...more

The Financial Report - Volume 3, No. 15 • August 2014 (Global)

US Judicial Developments - Securities fraud litigation practices. The US Court of Appeals for the Ninth Circuit held that a party does not violate the automatic discovery stay found in the Private Securities Litigation...more

Banking & Financial Services E-Note - July 2014

In This Issue: - New Rule Will Require Banks to Provision for Bad Loans Earlier - Four Years After Dodd-Frank, Law Still Unfinished - Senate Panel to Review Borrowing of 'Too Big to Fail' Banks - Community...more

Financial Regulatory Developments Focus - August 2014

In this issue: - Derivatives - Compensation - Recovery & Resolution - Bank Prudential Regulation and Regulatory Capital - Financial Market Infrastructure - Financial Services...more

New York Federal Reserve Bank Official Questions FCPA’s “Facilitating Payments” Exception

On July 23, Thomas Baxter, General Counsel for the New York Federal Reserve Bank, in public remarks at a risk management conference, questioned the FCPA’s “exception for ‘facilitating or expediting payments’ made in...more

Virtual Currencies: New York State Department of Financial Services Releases Proposed Regulations

As the first of their kind, the proposed regulations may add legitimacy to virtual currencies, but the new regulatory regime could stifle innovation and development. On July 23, 2014, the New York State Department of...more

Federal Reserve Board Reports On Prepaid Cards, Domestic Payments

Recently, the Federal Reserve Board released two payments-related reports: (i) a report to Congress on government-administered general use prepaid cards; and (ii) a detailed report on the Federal Reserve’s 2013 payments...more

Fed Releases Study on Payments within the United States

On July 21, the Fed released a study providing insights into payments within the United States....more

Form SHL: Foreign Resident’s Holdings of U.S. Securities Due August 2014

The U.S. Department of the Treasury requires U.S. resident issuers (including U.S. resident investment funds) and investment advisers managing foreign investment funds to report foreign residents’ holdings of U.S. securities,...more

The Financial Report - Volume 3, No. 14 • July 24, 2014 (Global)

Discussion and Analysis - Monday of this week was the fourth anniversary of the signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Like all anniversaries, it is a time for looking back. As would...more

FDIC Proposes Changes to Assessments Rule

On July 15, the Federal Deposit Insurance Corporation (FDIC) proposed (1) to revise the ratios and ratio thresholds for capital evaluations used in its risk-based deposit insurance assessment system (the FDIC stated this was...more

FDIC Proposes Rule to Revise Deposit Insurance Assessments to Reflect the Basel III Capital Rule

The FDIC issued a notice of proposed rulemaking (the “Proposed Rule”) that would revise the FDIC’s risk-based deposit insurance assessment system to reflect the final Basel III capital rule (the “Final Capital Rule”) adopted...more

Mainebiz Real Estate Insider – Lender Liability in Real Estate Closings; Know Your Closer Well

The general phrase “lender liability” usually refers to cases where a lender does not live up to its own loan agreement, or where a loan officer promises more than the loan documents provide, or where the lender sells...more

Federal Reserve Takes Action Against Bank For Vendor’s Allegedly Deceptive Practices

On July 1, the Federal Reserve Board announced a joint enforcement action with the Illinois Department of Financial and Professional Regulation against a state bank that allegedly failed to properly oversee a nonbank...more

Federal, State Prudential Regulators Issue HELOC Guidance

On July 1, the OCC, the Federal Reserve Board, the FDIC, the NCUA, and the Conference of State Bank Supervisors issued interagency guidance on home equity lines of credit (HELOCs) nearing their end-of-draw periods....more

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - Senate to vote on TRIA reauthorization bill, Federal Reserve Membership - This week, the Senate is expected to consider a bill (S. 2244) that would reauthorize the Terrorism Risk Insurance...more

OIG updated work plan adds focus to information security, compensation, and distribution of civil penalty funds

The most notable items added by the Office of Inspector General (OIG) to its work plan, updated as of July 7, 2014, are audits of the CFPB’s information security program, pay and compensation program, and distribution of...more

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