For the first time in my memory, the Congress passed a joint resolution to disapprove a final regulation of a federal agency—in this case the CFPB and the rule was related to arbitration clauses in contracts for consumer...more
12/8/2017
/ Banking Sector ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
CRA ,
Credit Unions ,
Cuba ,
Dodd-Frank ,
EU ,
FDIC ,
Final Rules ,
Financial Institutions ,
Mortgage Servicers ,
NCUA ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Qualified Financial Contracts (QFC) ,
RESPA ,
Sanctions ,
Truth in Lending Act (TILA)
Last week, the DFS announced an enforcement action and charges against the NY Branch of Habib Bank, a Pakistani bank that had been doing business in NY for almost 40 years....more
9/2/2017
/ Anti-Money Laundering ,
Banks ,
Cease and Desist ,
Civil Monetary Penalty ,
Consent Order ,
Department of Financial Services ,
Enforcement Actions ,
Foreign Banks ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Pakistan ,
Terrorist Financing
With a straight face, President Trump has issued an executive order on June 20th that would expand Apprenticeship opportunities in the US in order to expand jobs. The CFTC has adopted some final rules on records...more
8/10/2017
/ Appraisal ,
Arbitration Agreements ,
Burma ,
China ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Creditors ,
Executive Orders ,
FDIC ,
Federal Reserve ,
Financial Services Industry ,
FinCEN ,
Interest Rates ,
Mergers ,
Mortgage Lenders ,
Mortgage Servicers ,
NCUA ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
RESPA ,
Trump Administration