Financial Regulatory Reform Banks

News & Analysis as of

State-Chartered Bank Settles with New York DFS for Alleged Violations of Banking Law

On October 28, the New York DFS resolved an enforcement action with a New York State-charted bank for alleged violations of state banking law. The DFS alleged that the bank hired a former New York Federal Reserve Bank...more

CFPB confirms interest in marketplace lending

Companies involved in marketplace lending will be quite interested in the attendee list for the American Banker’s Marketplace Lending + Investing conference taking place this week in New York City. It indicates that 22...more

Looking Back: Delaware's Comprehensive Unclaimed Property Program Reform

The recent reforms have not impacted the power and authority of the Office of the State Bank Commissioner to examine Delaware financial institutions for compliance with the escheat laws, but the shortened look-back period...more

Director Cordray sends warning to vendors on TRID rule compliance

In remarks yesterday at the Mortgage Bankers Association’s annual convention, CFPB Director Richard Cordray stated that the CFPB may need to look more closely at vendors of software and other tools used by lenders to comply...more

EP updates on structural reform measures

EP has updated its procedure file on the proposed Regulation on banking structural reform. The indicative date for the plenary session...more

FMLC presents feedback on regulation reform

FMLC has issued an interim feedback statement following responses to its discussion paper on coordination in the reform of international financial regulation. The statement highlights both the comments critiquing FMLC’s...more

Banks Get Big Win in Challenge to New York Ordinance

Many big cities in the United States responded to the fallout from the 2008 financial crisis by passing local laws which pressure banks to invest more in low-income neighborhoods. Between 2010 and 2013, cities such as New...more

NYDFS Reaches Agreements with Four Banks on New Symphony Chat & Messaging Platform

On September 14, the New York State Department of Financial Services (NYDFS) announced that it had reached agreements with four financial institutions on record-keeping requirements and other protections intended to help...more

Scope of banking reform extended

The Financial Services (Banking Reform) Act 2013 (Transitional and Savings Provisions) (Amendment) Order 2015 makes amendments to the original transitional provisions order to include all PRA-authorised firms within its scope...more

Banking Trade Associations Urge Senate Leaders to Pass Regulatory Relief Legislation for Community Institutions

On September 8, four trade associations representing 14,000 financial institutions – the American Bankers Association, the Credit Union National Association, the Independent Community Bankers of America, and the National...more

AML and Investment Advisers: Understanding FinCEN's New Anti-Money Laundering Rules

On August 25, 2015, the Financial Crimes Enforcement Network (FinCEN) proposed rulemaking that would require registered investment advisers, including certain hedge funds and asset managers, to establish anti-money laundering...more

Financial Consulting Firm Agrees to Pay $15 Million to Resolve NYDFS Investigation

On August 18, a Washington D.C.-based financial consulting firm agreed to pay $15 million to resolve allegations that the firm failed to meet the current requirements of the NY Department of Financial Services (NYDFS) for...more

Senator Shelby's Push for Financial Regulatory Reform

Why it matters - Five years after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, efforts on Capitol Hill seek to continue to turn back many of its regulatory restrictions. Sen. Richard...more

New Risks - the New Senior Manager and Senior Insurance Manager Regimes

From 7th March 2016 (and 1st January for insurers), a new regulatory financial services regime will be in place in the United Kingdom. The new regime is significant; it is intended to make it far easier for UK regulators; the...more

Comptroller Discusses Efforts to Ease Regulatory Burden on Community Banks

On August 5, the Comptroller of the OCC addressed efforts to ease the burden of regulation on community national banks and federal savings associations....more

Financial Services Regulation: Exchange – International Newsletter - Issue 26 – May 2015

DLA Piper’s Financial Services International Regulatory team welcomes you to the twenty-sixth edition of ‘Exchange – International’ – an international newsletter designed to keep you informed of regulatory developments in the...more

Financial Services Regulation: Exchange International Newsletter - Issue 25 - February 2015

DLA Piper’s Financial Services International Regulatory team welcomes you to the twenty-fifth edition of ‘Exchange – International’ – an international newsletter designed to keep you informed of regulatory developments in the...more

Structured Thoughts: News for the financial services community, Volume 5, Issue 9

In This Issue: - What to Expect in 2015 - EU Regulatory Agenda: Into 2015 - FINRA Issues Report Relating to its Communication Rules - Structured Product Offerings and RIAs - The SEC, Investment Funds and...more

Banking and Financial Services E- Note - December 2014

In This Issue: - Congress Move to Roll Back Bank 'Push-Out' Regulation Meets Anger - NCUA Calls for Retailers to Cover Data Breach Costs - Regulators Propose 8 Biggest Banks Increase Capital...more

Credit Law Regulatory Update – The Year in Review and What's Next?

This legal insight summarises many key points made at the 24th Annual Credit Law Conference (Conference) held on 1-3 October 2014 and attended by over 200 delegates from the financial services industry. The Conference...more

Financial Regulatory Developments Focus - November 2014

In this issue: - Bank Prudential Regulation & Regulatory Capital - Bank Structure - Derivatives - Enforcement - Financial Market Infrastructure - Financial Services -...more

Exchange – International Newsletter: Issue 24 – October 2014

WELCOME - DLA Piper’s Financial Services International Regulatory team welcomes you to the twenty-fourth edition of ‘Exchange – International’ – an international newsletter designed to keep you informed of regulatory...more

Orrick's Financial Industry Week in Review

ESMA Updates its Questions and Answers on EMIR Implementation - On October 24, the European Securities and Markets Authority (ESMA) published an updated version of its Questions and Answers on the European Market...more

Financial Regulatory Developments Focus - October 2014 #4

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

FHFA Extends Comment Period on Proposed Revisions to Federal Home Loan Bank Membership Eligibility Requirements

On October 6, the FHFA announced that it is extending the comment period for its proposed rule on Federal Home Loan Bank membership by 60 days, or to January 12, 2015. ...more

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