Financial Services Report -- Fall 2012

Morrison & Foerster LLP
Contact

In This Issue:

Beltway Report; Bureau Report; Operations Report; Arbitration Report; Mortgage Report; Privacy Report; Plastics Report; and Preemption Report.

Excerpt from Beltway Report

MOU on Supervisory Coordination

Five federal supervisory agencies released a Memorandum of Understanding (MOU) clarifying how the agencies will coordinate their supervisory activities, consistent with the Dodd-Frank Act. Section 1025 of the Dodd-Frank Act requires that the CFPB and the prudential regulators—the FRB, FDIC, NCUA, and OCC—coordinate important aspects of their supervision of institutions with more than $10 billion in assets and their affiliates. The MOU is intended to establish coordination and cooperation between the CFPB and the prudential regulators, minimize unnecessary regulatory burden, and decrease the risk of conflicting supervisory directives. Under the MOU, the agencies will coordinate examinations and other supervisory activities and share certain material supervisory information.

Please see full issue below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP | Attorney Advertising

Written by:

Morrison & Foerster LLP
Contact
more
less

Morrison & Foerster LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.