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A&O Shearman

Financial Stability Board Sets out Resolution Work for 2025

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The Financial Stability Board has published its resolution report for 2024. The report takes stock of the FSB resolution-related work of the past year as well as of the progress made by FSB members in implementing resolution...more

A&O Shearman

EMIR 3 Published in the Official Journal of the European Union

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The EMIR 3 Regulation and Directive have been published in the Official Journal of the European Union and will enter into force on December 24, 2024. The EMIR 3 Regulation amends the European Market Infrastructure Regulation...more

Latham & Watkins LLP

On the Margins: CFTC’s Digital Asset Markets Subcommittee Recommends Expanded Use of Non-Cash Collateral Through Blockchain...

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With appropriate safeguards, distributed ledger technology may expand the use of non-cash assets as derivatives collateral, while mitigating certain market infrastructure inefficiencies....more

BakerHostetler

Potential Risks to Financial Stability: The Financial Stability Oversight Council’s 2024 Annual Report

BakerHostetler on

The Financial Stability Oversight Council (FSOC or Council) unanimously approved and issued its 2024 Annual Report on December 6, 2024, lauding a strong economy and stable financial system while also outlining numerous risks...more

Ballard Spahr LLP

Trump designates Andrew Ferguson as next FTC Chair

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President-Elect Donald Trump said he has selected Andrew Ferguson to be the next Chair of the FTC. Ferguson is a current Republican member of the commission; he will not have to be confirmed by the Senate to become chair....more

Ballard Spahr LLP

House steering panel chooses French Hill as next Financial Services Chair

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It is all but certain that Rep. French Hill, R-Ark., will chair the House Financial Services Committee in the next Congress. Hill was selected on December 12 by the House Republican steering committee, although his selection...more

Benesch

FinCEN Confirms Nationwide Pause of Corporate Transparency Act and BOI Reporting Requirements

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Entities should continue preparing to comply with BOI reporting requirements. On December 10, 2024, the Financial Crimes Enforcement Network (FinCEN) alerted businesses that, for now, they do not need to report their...more

Thomas Fox - Compliance Evangelist

Inspired Choice Today: Navigating Compliance and Cultural Sensitivity with Tom Fox

Caroline Biesalski introduces Tom Fox, who shares his journey to becoming a full-time podcaster, particularly highlighting the impacts of COVID-19 on his career shift. He discusses his unique approach of blending technical...more

Jaburg Wilk

Corporate Transparency Act Compliance Deadlines Suspended Nationwide

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The Corporate Transparency Act (CTA) plays a vital role in protecting the U.S. and international financial systems, as well as people across the country, from illicit finance threats like terrorist financing, drug...more

Husch Blackwell LLP

Nationwide Injunction Halts Enforcement of the Corporate Transparency Act - UPDATED 12-12-2024

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As of the posting of this article, reporting companies nationwide do not need to comply with the Corporate Transparency Act’s (CTA) January 1, 2025, beneficial owner information (BOI) reporting deadline. Yet, given the appeal...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - (December 2024 - From Awareness to Action: A Deep Dive into CTPAT Training

In the global trade universe, where time holds huge importance, weak security practices in your international operations could be detrimental to your business. Customs and Border Protection (CBP), the folks behind CTPAT, are...more

Orrick, Herrington & Sutcliffe LLP

CFPB Rule Would Affect Data Brokers and More

Over the past several years, data brokers have been subject to increased scrutiny from regulatory and enforcement agencies at both federal and state levels. On Dec. 3, the Consumer Financial Protection Bureau took a...more

Kaufman & Canoles

Tips to Improve Your Credit Union

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Every organization, including credit unions, looks for ways to improve. Complacency can become the silent enemy leading to a multitude of failures and perhaps ultimately, the failure of the organization....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Controlled group determination, affiliated service needs more info

“The Bears are what we thought they were. Th-they’re what we thought they were. We played them in preseason. I mean, who the hell takes the third game of the preseason like it’s bullshit? Bullshit! We played them in the third...more

Orrick, Herrington & Sutcliffe LLP

FHFA and HUD update mortgage loan limits for 2025

On November 26, the FHFA announced the conforming loan limit values for 2025, increasing the baseline limit. See here for a map of the conforming loan limit values. For one-unit properties, the new limit is $806,500 — a 5.2...more

Cozen O'Connor

CFPB Flexes Supervisory Muscle Over Google Payment Corp.

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The CFPB issued an order establishing supervisory authority over Google Payment Corp. based on operation of its Google Pay app and Google Pay Balance, which was accessible through the app....more

McCarter & English, LLP

Corporate Transparency Act: Preliminary Injunction & FinCen’s Response

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The Corporate Transparency Act (31 U.S.C. § 5336, the CTA), which went into effect on January 1, 2024, requires a broad range of corporations, limited liability companies, and other entities (“reporting companies”) to file...more

Troutman Pepper

October 2024 Consumer Litigation Filings: Everything Up

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA), and Fair Debt Collection Practices Act (FDCPA), and complaints filed with the...more

Jones Day

New York Bankruptcy Court: "Defensive" Setoff Rights of Creditor that Did Not File Proof of Claim Cannot Be Extinguished Under...

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The ability of a creditor to offset any liability it may have to a debtor against the amount of the debtor's obligation to the creditor is an important right. The Bankruptcy Code expressly preserves that right, provided it...more

Troutman Pepper

September 2024 Consumer Litigation Filings: Mostly Down For Month But Still Up YTD

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA), and Fair Debt Collection Practices Act (FDCPA) were down for the month. Yet,...more

Jones Day

Hertz: Third Circuit Weighs in on Make-Whole Premiums and the "Solvent-Debtor Exception" in Chapter 11 Cases

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A handful of recent high-profile court rulings have considered whether a chapter 11 debtor is obligated to pay postpetition, pre-effective date interest ("pendency interest") to unsecured creditors to render their claims...more

Orrick, Herrington & Sutcliffe LLP

FDIC updates its signs and advertising requirement Q&As

On December 2, the FDIC updated its Q&As related to its final rule “FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC Name or Logo,” affecting 12...more

Troutman Pepper

CFPB Initiates FCRA Rulemaking to Address Coerced Debt

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On December 9, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the launch of a rulemaking process addressing credit reporting on survivors of domestic violence, elder abuse, and other forms of financial...more

The Volkov Law Group

BIT Mining FCPA Settlement and Lessons Learned (Part III of III)

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Bit Mining, formerly 500.com, was a doomed company from the beginning, When a CEO orchestrates a bribery scheme with the assistance of other senior executives, shareholders and the public have little chance of ensuring a...more

Bradley Arant Boult Cummings LLP

Future of Fair Access to Banking: Will 2025 See Federal Action?

The start of the second Trump administration is fast approaching, and it raises prospects of a renewed push for federal-level fair access to banking requirements. The first Trump administration came close to enacting such a...more

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