Bipartisan Regulatory Relief Bill for Smaller Financial Institutions Introduced in Senate
Bipartisan legislation has been introduced in the U.S. Senate, aimed at reducing regulatory burden on community banks, providing new...more
With Vice President Mike Pence casting the tie-breaking vote, the U.S. Senate has voted to repeal the CFPB’s arbitration rule, which would have prohibited banks and other covered consumer financial service providers from...more
Federal Banking Agencies Propose Simplifications to Regulatory Capital Rules -
The federal banking agencies have proposed amendments to their regulatory capital rules intended to simplify the capital treatment for mortgage...more
10/2/2017
/ Accounting Standards ,
Banking Sector ,
Capital Requirements ,
Federal Reserve ,
Financial Institutions ,
FinTech ,
HOLA ,
HVCRE Loans ,
Marijuana Related Businesses ,
Medical Marijuana ,
New Guidance ,
Securities Settlement Cycles
Federal Reserve Issues Proposed Guidance on Board Duties and Responsibilities -
The Federal Reserve has issued proposed supervisory guidance on the duties of boards of directors of institutions supervised by the Federal...more
CFPB Arbitration Rule Will Prevent Firms From Blocking Class Action Lawsuits -
The CFPB has approved a new rule that will prohibit banks and other covered providers of certain consumer financial products and services from...more
7/31/2017
/ Administrative Appeals ,
Arbitration ,
Class Action ,
Class Action Arbitration Waivers ,
Congressional Review Act ,
Consumer Financial Contracts ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Fair Labor Standards Act (FLSA) ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Services Industry ,
HMDA ,
Mortgage Lenders ,
Mortgages ,
Split of Authority ,
Underwriting ,
Wage and Hour
Supreme Court: Bank That Buys Debt for Its Own Account Is Not Debt Collector -
The U.S. Supreme Court recently held that a bank that collects on debts it has bought and holds “for its own account” is not a debt collector...more
6/30/2017
/ Appraisal ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Buyers ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Federal Reserve ,
FIRREA ,
Information Reports ,
OCC ,
Prepaid Payment Products ,
Risk Management ,
SCOTUS ,
Third-Party Service Provider ,
U.S. Treasury
Supreme Court Rules That Cities Can Sue Lenders Under the Fair Housing Act -
The U.S. Supreme Court has issued a decision that reaffirms the standing of municipalities to sue lenders, including banks, for certain...more
CFPB Delays the Effective Date of New Prepaid Accounts Rule -
The CFPB adopted a final rule on April 20 that delays the general effective date of its rule governing prepaid accounts by six months. The rule will now take...more
4/28/2017
/ Administrative Procedure Act ,
Civil Investigation Demand ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
CSBS ,
Data Security ,
Dodd-Frank ,
Fintech Charter ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Non-Bank Lenders ,
OCC ,
Prepaid Payment Products
Fed Raises Threshold That Triggers Review of Systemic Risk of a Proposed Merger -
In a recent decision on a proposed merger of two bank holding companies, the Federal Reserve indicated that it has increased the...more
3/31/2017
/ Broker-Dealer ,
BSA/AML ,
Commercial Real Estate Contracts ,
Dodd-Frank ,
Federal Reserve ,
Fintech Charter ,
Merger Controls ,
OCC ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Threshold Requirements ,
Underwriting
CFPB Fines Mortgage Lender for Violating the RESPA Anti-Kickback Rule
The Consumer Financial Protection Bureau (“CFPB”) has taken enforcement action in the form of a consent order against a mortgage lender, including...more
2/28/2017
/ Anti-Kickback Statute ,
Bank Fraud ,
Banking Sector ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Executive Orders ,
FDIC ,
Internet Service Providers (ISPs) ,
Margin Requirements ,
New Guidance ,
RESPA ,
Statute of Limitations ,
Trustees
DOL Issues New Guidance on the ERISA Fiduciary Rule -
The U.S. Department of Labor (“DOL”) has released a second set of answers to frequently asked questions (“FAQs”) that provide new guidance about recent amendments...more
OCC to Consider Fintech Applications for Special Purpose National Bank Charters -
The OCC has announced that it will consider applications for special purpose national bank charters for financial technology...more
12/28/2016
/ Accounting Standards ,
Amended Rules ,
ATMs ,
Bank Fraud ,
Banking Examinations ,
Decriminalization of Marijuana ,
EFTs ,
Final Rules ,
Fintech Charter ,
Foreclosure ,
New Guidance ,
OCC ,
Special Purpose National Bank Charter
Massachusetts Voters Approve Legalization of Marijuana for Recreational Purposes -
Massachusetts voters have approved a ballot initiative legalizing the use of marijuana for recreational purposes, which will become law...more
Court Overturns RESPA Ruling and Holds That the CFPB is Unconstitutionally Structured
The United States Court of Appeals for the District of Columbia Circuit has overturned an enforcement action under Section 8 of the...more
The Federal Reserve Board has released a policy statement that details the framework it will follow in setting the Countercyclical Capital Buffer (“CCB”) for private-sector credit exposures located in the United States. The...more
9/30/2016
/ Banking Sector ,
BSA/AML ,
Capital Requirements ,
Community Banks ,
Cybersecurity ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
FFIEC ,
FinTech ,
Mortgage Lenders ,
OCC ,
Online Marketplace Lending
FDIC Proposes Expansion of Third-Party Lending Examinations -
The FDIC has extended the public comment period on proposed examination guidance that would significantly expand the scope of examinations of banks’...more
FinCEN has released guidance in the form of answers to frequently asked questions (“FAQs”) about new customer due diligence (“CDD”) requirements that became effective this month. The CDD FAQs issued on July 19 clarify new...more
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
Headlines
1. Agencies Publish Proposed Rule to Limit Incentive-Based Compensation Arrangements
2. Guidance on New...more
7/1/2016
/ Accounting Standards ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Federal Reserve ,
Incentive Compensation ,
New Guidance ,
Payday Loans ,
Proposed Regulation ,
Risk Management ,
Unfair or Deceptive Trade Practices
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
Headlines
1. FDIC Approves Proposed Rule to Limit Incentive-Based Compensation Arrangements
2. Congress Considers...more
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
- Headlines
1. FDIC Issues Final Rule to Assess Large Banks a Deposit Insurance Surcharge
2. Regulators Clarify...more
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
Headlines
1. CFPB Issues FCRA Compliance Guidance for Furnishers of Consumer Information
2. Joint Advisory...more
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
Headlines -
1. CFTC Issues Relief from Swap Clearing Requirements to Small Holding Companies
2. Federal...more
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
Headlines -
1. Interagency Guidance Recommends Banks Review CRE Risk Management Strategies
2. Federal Reserve...more
The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group.
Headlines -
1. DOB Revises Guidance on Branch and Main Office Notices and Applications -
2. FDIC Updates...more
11/30/2015
/ Banks ,
Brokered Deposits ,
Condominiums ,
Cybersecurity ,
FASB ,
FDIC ,
Federal Housing Administration (FHA) ,
FFIEC ,
Loans ,
Mortgages ,
Risk Management