Mortgages, Risk Assessment

Proceeds of Crime and the Cautionary Tale of Convicted Fraudster Achilleas Kallakis

Ankura on 12/22/2023

Recent SFO Confiscations Linked To Decade-Old Crime - On 24 November, the Serious Fraud Office (SFO) successfully confiscated £250,000 from Achilleas Kallakis, which was held as a debenture by The Queen’s Club, home of the...more

This is Not a Drill: Payment Software Testing Inadvertently Led to $2.3 Billion in Real Account Withdrawals

Cozen O'Connor on 10/20/2023

A coalition of fifty AGs settled with payment processor ACI Payments, Inc. and its parent company (collectively, ACI) to resolve allegations that ACI violated state consumer protection laws and regulations when a testing...more

Nutter Bank Report: June 2023

Nutter McClennen & Fish LLP on 6/30/2023

The federal banking agencies have published new guidance to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology (fintech) companies. The new...more

Federal Reserve Seeks Feedback on Proposed Updates to FMUs Risk Management Requirements

Goodwin on 10/3/2022

Regulatory Developments - Federal Reserve Seeks Feedback on Proposed Updates to FMUs Risk Management Requirements - On September 23, the Federal Reserve invited comment on proposed updates to operational risk...more

Banking and finance regulatory news, October 2020

Hogan Lovells on 10/6/2020

IRB UK mortgage risk weights: PRA CP14/20 - The UK Prudential Regulation Authority (PRA) has published a consultation paper, CP14/20, on proposals to introduce new expectations on internal ratings based (IRB) approach UK...more

OCC Establishes New Third-Party Risk Management Expectations, Including for Bank Relationships With Marketplace Lenders

Troutman Pepper on 2/22/2017

The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties. On January 24, the Office of...more

CFPB unveils Consumer Credit Trends web-based tool

Ballard Spahr LLP on 12/16/2016

The CFPB has unveiled “Consumer Credit Trends,” which it describes as “a web-based tool to help the public monitor developments in consumer lending and forecast potential future risks.”...more

Year in Review: Legislation and Guidance for Financial Institutions in 2015

Blake, Cassels & Graydon LLP on 1/21/2016

Financial institutions in Canada witnessed yet another year of significant growth in legislation and regulatory guidance impacting their operations, while the financial marketplace is continuing to adapt to the impact of...more

OCC Lending Handbook Needs Parenting on Important Legal Topics

Winstead PC on 10/10/2013

In an earlier posting, I reviewed the OCC’s new Commercial Real Estate Lending handbook . The purpose of the handbook is to give parenting – I mean guidance – on risks inherent in commercial real estate lending. On legal...more

Orrick's Financial Industry Week in Review - June 10, 2013

Orrick, Herrington & Sutcliffe LLP on 6/11/2013

In This Issue: SEC Proposed Rule on Money Market Reforms; FDIC Final Rule on Orderly Liquidity Authority; FDIC Credit Risk Assessment Report; CFTC No-Action Relief; CFPB Exam Procedures for New Mortgage Rules; Rating Agency...more

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