Editor's Note -
First Half of 2018 Sees Significant Decline in Publicly Announced or Publicly Filed Enforcement Activity. During the first half of 2018, Enforcement Watch tracked 40 publicly announced or publicly filed...more
11/8/2018
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Excessive Fees ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Investors ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
SIFIs ,
TCPA
Editor's Note -
State Regulators Sue OCC Over Federal FinTech Charter, Again. On October 25, the Conference of State Bank Supervisors (CSBS) once again sued the Office of the Comptroller of the Currency (OCC) in the U.S....more
Editor's Note -
Regulators Continue Push for Financial Innovation. Speaking at the American Bankers Association Annual Convention in New York City, Federal Deposit Insurance Corporation (FDIC) Chairman Jelena McWilliams...more
Editor's Note -
In This Issue. The Securities and Exchange Commission (SEC) granted no-action relief for fund boards; the Financial Stability Oversight Council (FSOC) announced the rescission of the “systemically important...more
10/18/2018
/ ATDS ,
Bank Secrecy Act ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Excessive Fees ,
Financial Services Industry ,
FinTech ,
FSOC ,
Investment ,
Joint Statements ,
No-Action Relief ,
Securities and Exchange Commission (SEC) ,
TCPA ,
Virtual Currency
In This Issue. The Office of the Comptroller of the Currency (OCC) released its annual supervision operating plan outlining its bank supervision priorities, issued an updated Truth in Lending Act booklet, and provided...more
10/4/2018
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Corrective Actions ,
Cybersecurity ,
Financial Services Industry ,
FinCEN ,
Form 10-Q ,
Loans ,
OCC ,
Payday Loans ,
Securities and Exchange Commission (SEC) ,
Truth in Lending Act (TILA)
Editor's Note -
No Rest for the Regulators. While many in the financial services industry used the last few weeks of August to enjoy additional time with family and friends before the back-to-school crunch, federal...more
9/13/2018
/ Bank Holding Company ,
Banking Sector ,
Class Action ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Currency ,
Enforcement Actions ,
Filing Fees ,
FinCEN ,
HMDA ,
Interest Rates ,
Liquidity Coverage Ratio ,
Mortgages ,
OCC ,
Securities and Exchange Commission (SEC) ,
Summary Judgment ,
Volcker Rule
Editor's Note -
In This Issue. The Office of the Comptroller of the Currency (OCC) issued revised guidance on Community Reinvestment Act ratings; the OCC also released an update to the Bank Accounting Advisory Series; and...more
Editor's Note -
In This Issue. Federal Reserve Vice Chairman for Supervision Randal K. Quarles delivered a speech detailing plans for more tailored supervision of large financial institutions; the Office of the...more
Editor's Note -
In This Issue. California enacted a new data privacy law; the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a risk alert highlighting deficiencies observed in recent examinations of...more
7/23/2018
/ ATDS ,
Banking Sector ,
Consumer Fraud ,
Credit Reporting Agencies ,
Data Privacy ,
Department of Justice (DOJ) ,
Federal Agency Taskforce ,
Financial Services Industry ,
NYDFS ,
OCIE ,
Summary Judgment ,
TCPA ,
Volcker Rule
Editor's Note -
Third Circuit Affirms AXA Section 36(b) Decision. On July 10, the U.S. Court of Appeals for the Third Circuit affirmed the district court’s decision in favor of the investment adviser in the Sivolella v....more
Editor's Note -
Differing Priorities? On June 14, Comptroller of the Currency Joseph M. Otting testified before the Senate Committee on Banking, Housing, and Urban Affairs, addressing his priorities for the Office of the...more
Regulatory Developments -
FinCEN Provides 90-Day Exceptive Relief From Beneficial Ownership Requirements for Certain Products and Services With Automatic Rollovers or Renewals -
On May 16, the Financial Crimes...more
5/24/2018
/ Anti-Money Laundering ,
Consumer Financial Protection Bureau (CFPB) ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
OCC ,
RESPA ,
Securities and Exchange Commission (SEC) ,
TCPA ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Truth in Lending Act (TILA)
Editor's Note -
In This Issue. The Consumer Financial Protection Bureau (CFPB) published its Spring 2018 rulemaking agenda; the U.S. Department of Housing and Urban Development (HUD) announced that it will seek public...more
Editor's Note -
Regulatory Relief, One Way or Another. It seems that banks may finally be the beneficiaries of meaningful regulatory relief and such relief is coming from several different sources. Yesterday, May 8, 2018,...more
5/10/2018
/ Consumer Financial Protection Bureau (CFPB) ,
Creditors ,
Debtors ,
Department of Labor (DOL) ,
Due Diligence ,
Fiduciary Rule ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
FinCEN ,
Lending ,
Repeal ,
Securities and Exchange Commission (SEC)
Editor's Note -
In This Issue. The Securities and Exchange Commission’s (SEC) Division of Enforcement issued answers to frequently asked questions regarding its recently announced Share Class Selection Disclosure...more
Editor's Note -
Treasury Issues Recommendations to Modernize the Community Reinvestment Act. On April 3, the U.S. Department of the Treasury released a report containing its recommendations for modernizing the Community...more
4/5/2018
/ Appeals ,
Arbitration ,
Commercial Real Estate Market ,
Consumer Financial Protection Bureau (CFPB) ,
FDIC ,
Federal Arbitration Act ,
Federal Reserve ,
FHFA ,
Financial Services Industry ,
FinCEN ,
Libor ,
Mortgages ,
OCC ,
SCOTUS ,
Small Entity Compliance Guide
Editor's Note -
Breaking News. This morning, the U.S. Court of Appeals for the D.C. Circuit, sitting en banc, issued its long-awaited decision in PHH Corp. v. CFPB, holding that the provision of the Dodd-Frank Act...more
Editor's Note -
Change at the Fed. As expected, on November 2, President Trump nominated Jerome H. Powell to be Chairman of the Board of Governors of the Federal Reserve System (FRB) for a term of four years beginning...more
11/9/2017
/ Bank Secrecy Act ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collectors ,
Due Diligence ,
Equity Investors ,
FDIC ,
Federal Trade Commission (FTC) ,
FinCEN ,
OCC ,
Subsidiaries