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Dodd-Frank Wall Street Reform and Consumer Protection Act Government Accountability Office

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Holland & Knight LLP

GAO and Senate Democrats to Investigate the CFPB's Recent Staff Reductions

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U.S. Sen. Elizabeth Warren (D-Mass.), on behalf of 40 Democratic Senators, wrote a letter to CFPB Acting Director Russell Vought on April 28, 2025, expressing "grave concerns" about the agency's ability to fulfill more than...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2025

Amid media reports that the administration may be considering a plan to consolidate the FDIC, the supervisory functions of the Federal Reserve, and the OCC into a single agency, President Trump issued an executive order...more

Davis Wright Tremaine LLP

New Administration Outlook: A Possible Roadmap to What's Ahead for the CFTC Under New Leadership

On January 20, 2025, the Commodity Futures Trading Commission ("CFTC") unanimously elected Commissioner Caroline D. Pham as acting chairman. The Administration has not yet identified who will be nominated for the position of...more

Orrick, Herrington & Sutcliffe LLP

GAO says Fed, FDIC escalation processes could be improved

The GAO released its November 2024 report, titled “Bank Supervision: Federal Reserve and FDIC Should Address Weaknesses in Their Process for Escalating Supervisory Concerns,” to the U.S. Senate Committee on Banking, Housing,...more

Cooley LLP

In new GAO report, some distressing news about SEC’s conflict minerals rules and violence in DRC

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“Conflict Minerals—Peace and Security in Democratic Republic of the Congo Have Not Improved with SEC Disclosure Rule.” That is the title of the final required report of the U.S. Government Accountability Office, the last of...more

Bass, Berry & Sims PLC

GAO Assesses Health of the Defense Industrial Base

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The health of the Defense Industrial Base (DIB) has been brought to the fore as the United States responds to wars in Ukraine and Israel. Unfortunately, according to the National Defense Industrial Association’s “Vital Signs”...more

Jenner & Block

Government Contracts Legal Round-Up - July 2023 Issue 14

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Welcome to Jenner & Block’s Government Contracts Legal Round‑Up, a biweekly update on important government contracts developments. This update offers brief summaries of key developments for government contracts legal,...more

Morrison & Foerster LLP

Line In The Sand: OCC Issues Final Rule Adopting Bright-Line “True Lender” Standard

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Capping off months of proposed rules and settlements addressing marketplace lending issues, on October 27, 2020, the Office of the Comptroller of the Currency (OCC) finalized a rule specifying that a national bank or federal...more

Cooley LLP

Blog: GAO issues annual report on conflict minerals filings

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Under Dodd-Frank, the GAO is required to assess annually the effectiveness of the SEC’s conflict minerals rules in promoting peace and security and to report on the rate of sexual violence in the DRC and adjoining countries....more

Cooley LLP

Blog: GAO issues annual report on conflict minerals filings in 2017

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Under Dodd-Frank, the GAO is required to assess annually the effectiveness of the SEC’s conflict minerals rules in promoting peace and security and to report on the rate of sexual violence in the DRC and adjoining countries....more

Bradley Arant Boult Cummings LLP

Five Years Later: Five Takeaways From the Bulletin That Rocked the Auto Finance Industry

In 2013, the Consumer Financial Protection Bureau (CFPB) issued a bulletin on indirect auto lending that took the industry by storm. As we approach the five-year anniversary of the memo’s issuance, it’s valuable to reflect on...more

Bradley Arant Boult Cummings LLP

2017 in Review: Three State Enforcement Trends Impacting the Auto Finance Industry

Auto lenders, like many private citizens, began 2017 curious as to what change the impending Trump administration would bring. In the landscape of government enforcement, however, the consensus amongst industry participants...more

Cooley LLP

Blog: GAO Report On Gold Supply Chain Reveals Little Progress In Responsible Sourcing

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The GAO has issued a new report on conflict minerals focused in this instance on the supply chain for artisanal and small-scale mined (ASM) gold in the DRC region. The report also addressed efforts to encourage responsible...more

Cooley LLP

Blog: GAO Issues Annual Report Showing Only Slight Progress In Disclosures On Conflict Minerals

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The GAO has recently issued its third annual report on conflict minerals. The GAO is required by Dodd-Frank to report annually on the effectiveness of the SEC’s conflict minerals rule in promoting peace and security in the...more

Stinson - Corporate & Securities Law Blog

GAO Reports on 2015 Conflict Minerals Form SDs

GAO released an analysis of a generalizable sample of conflict minerals disclosures filed with SEC in 2015. The analysis found that an estimated 49 percent of companies in 2015 reported having determined whether the conflict...more

Pillsbury Winthrop Shaw Pittman LLP

Differing GAO Task Order Protest Thresholds

On December 23, 2017, President Obama signed the 2017 National Defense Authorization Act (NDAA), which contains changes to the Government Accountability Office’s (GAO) jurisdiction over contractor bid protests of task order...more

Cooley LLP

Blog: GAO Issues Second Annual Conflict Minerals Report

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The GAO has issued its annual conflict minerals report to Congress, entitled “Companies Face Continuing Challenges in Determining Whether Their Conflict Minerals Benefit Armed Groups.” The GAO is required to report annually...more

Seyfarth Shaw LLP

New GAO Report Highlights Challenges in Complying with Conflicts Minerals Rule

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Seyfarth Synopsis: Companies are experiencing difficulties in complying with their disclosure responsibilities under the SEC’s conflict mineral requirements. The Government Accountability Office (GAO) recently released a...more

Baker Donelson

GAO's Report Suggests Congress Give CFPB More Oversight

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This past February, the United States General Accounting Office (GAO) released a report to Congress entitled "Financial Regulation – Complex and Fragmented Structure Could Be Streamlined to Improve Effectiveness" (the...more

Katten Muchin Rosenman LLP

Bridging the Week - April 2016

GAO Claims US Financial Services Regulation Still Complex and Fragmented - Last week, the US Government Accountability Office reported that US oversight of financial services entities and products has not meaningfully...more

Stinson - Corporate & Securities Law Blog

GAO Says Financial Regulatory Structure is Fragmented and Inefficient

A GAO study found the U.S. financial regulatory structure is complex, with responsibilities fragmented among multiple agencies that have overlapping authorities. As a result, financial entities may fall under the regulatory...more

Bradley Arant Boult Cummings LLP

Community Banks Face Ever-Increasing Compliance Burden As a Result of Dodd-Frank Rules

According to a “Dodd-Frank Regulations Impacts on Community Banks, Credit Unions and Systematically Important Institutions” report recently released by the Government Accountability Office (GAO), community banks continue to...more

Goodwin

Financial Services Weekly News - January 2016

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Regulatory Developments - CFPB Responds To Industry’s TRID Implementation Concerns: On Dec. 29 the CFPB responded to a letter by the Mortgage Bankers Association (MBA) from Dec. 21. The MBA letter asked the CFPB to...more

Stinson - Corporate & Securities Law Blog

GAO Report Addresses Impact of Dodd-Frank on Community Banks, Credit Unions and Systemically Important Institutions

The Government Accountability Office, or GAO, has released an annual report required by the Dodd-Frank Act. GAO interviewed community banks, credit unions, and industry associations. Those interviewed cited an increase in...more

Cooley LLP

Blog: House Hearing On Conflict Minerals Rule: A Mixed Bag

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At a hearing last week before a subcommittee of the House Financial Services Committee, the members heard testimony regarding the Dodd-Frank conflict minerals provision. The Chair expressed concern that the provision was...more

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