As LenderLaw Watch previously reported, the Office of the Comptroller of the Currency (OCC) issued its final rule on the True Lender doctrine in October 2020, addressing ambiguity in federal law and establishing that a...more
In this Issue. The Federal Deposit Insurance Corporation (FDIC) was busy this week, finalizing rules that modernize brokered deposits regulations, establish new standards for parent companies of industrial loan companies and...more
12/17/2020
/ §314(b) ,
Banking Sector ,
Branch Offices ,
Brokered Deposits ,
Brokers ,
Comment Period ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Loan Companies ,
Cyber Incident Reporting ,
Cybersecurity ,
Debt Collection ,
Disclosure Requirements ,
Environmental Policies ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
FDIC ,
Federal Bank Regulatory Agencies ,
Federal Reserve ,
Final Rules ,
Financial Reporting ,
Financial Services Industry ,
Historic Preservation ,
Information Sharing ,
Investment Adviser ,
Investment Management ,
Investors ,
MD&A Statements ,
NEPA ,
NHPA ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Paycheck Protection Program (PPP) ,
Proposed Rules ,
Public Comment ,
Qualified Mortgage Rule ,
Registered Funds ,
SBA ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Suspicious Activity Reports (SARs)
In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more
11/5/2020
/ Banking Sector ,
Capital Formation ,
Climate Change ,
Confidential Information ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Department of Financial Services ,
Department of Labor (DOL) ,
Derivatives ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
FDCPA ,
FDIC ,
Federal Reserve ,
Fiduciary ,
Fiduciary Duty ,
Final Rules ,
Financial Institutions ,
Financial Records ,
Financial Regulatory Agencies ,
Financial Regulatory Reform ,
Financial Services Industry ,
Initial Public Offering (IPO) ,
Investment Companies ,
Investment Funds ,
Investment Opportunities ,
Investors ,
Lenders ,
Main Street Lending Programs ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Offerings ,
Proposed Rules ,
Public Comment ,
Registered Funds ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Small Business Loans ,
UDAAP
As Lender Law Watch previously reported, in July 2020, to resolve the legal uncertainty discouraging many banks and companies from entering into partnerships to offer loans to consumers, the OCC issued its proposed true...more
SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more
10/8/2020
/ Banking Regulators ,
Banking Sector ,
Borrowers ,
Capital Requirements ,
Change of Ownership ,
Class Action ,
Community Reinvestment Act ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Current Expected Credit Losses (CECL) ,
Dividends ,
Enforcement Actions ,
Federal Reserve ,
Final Rules ,
Financial Instruments ,
Financial Services Industry ,
Incentive Awards ,
Investment Adviser ,
Investment Companies ,
Investors ,
Mergers ,
New Guidance ,
New Rules ,
NYSE ,
OCC ,
Paycheck Protection Program (PPP) ,
Public Comment ,
Relief Measures ,
Risk Management ,
SBA ,
Securities and Exchange Commission (SEC) ,
Shareholder Approval ,
Shareholders ,
Small Banks ,
Small Business ,
Stock Repurchases ,
Stress Tests ,
Supervision ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Trust Funds ,
Truth in Lending Act (TILA) ,
Unregistered Securities
In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more
9/17/2020
/ Accredited Investors ,
Amended Rules ,
Anti-Money Laundering ,
Banking Sector ,
Banks ,
Brokers ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Crowdfunding ,
Data Collection ,
Deposit Insurance ,
Disclosure Requirements ,
Disparate Impact ,
Dodd-Frank ,
Extensions ,
Fair Credit Reporting Act (FCRA) ,
FDIC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Filing Fees ,
Final Rules ,
Financial Reporting ,
Financial Services Industry ,
FinCEN ,
Flood Insurance ,
HUD ,
Interim Final Rules (IFR) ,
Investors ,
Leverage Ratio ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Public Comment ,
Qualified Institutional Buyers ,
Relief Measures ,
Savings and Loan Companies ,
Section 1071 ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Temporary Regulations ,
Time Extensions
In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more
8/28/2020
/ Abuse of Discretion ,
Alternative Reference Rates Committee (ARRC) ,
Appeals ,
Arbitrary and Capricious ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
Best Practices ,
CARD Act ,
Carried Interest ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Discrimination ,
Delays ,
Depository Institutions ,
Due Diligence ,
Enforcement Actions ,
Fannie Mae ,
FDIC ,
Federal Deposit Insurance Act ,
Fees ,
FHFA ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Freddie Mac ,
GSE ,
Interim Final Rules (IFR) ,
Joint Statements ,
Libor ,
Loan Forgiveness ,
Loans ,
OCC ,
Paycheck Protection Program (PPP) ,
Policy Statement ,
Predatory Lending ,
Proposed Regulation ,
Public Comment ,
Refinancing ,
Regulatory Requirements ,
Request For Information ,
Rulemaking Process ,
SBA ,
Small Business ,
Small Business Loans
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) issued Final Rules last month in an effort to address the “legal confusion” regarding the impact of the permissible...more