Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
March 27, 2024- The U.S. Department of the Treasury released a report on Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector. March 27, 2024 The Federal Reserve Bank of New...more
January 8, 2024- Secretary of the Treasury Janet L. Yellen gave remarks at the Financial Crimes Enforcement Network. January 8, 2024- The Federal Reserve Board released the G.19 consumer credit data for November 2023....more
The proposed rule, if adopted, would apply to mortgage originators and issuers of mortgage-backed securitizations that rely on automated valuation models (“AVMs”) to determine the value of real estate collateral. The...more
July 27, 2023- The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency are requesting comment on a proposal to increase the strength and...more
June 26, 2023- The Ranking Member of the U.S. House Committee on Financial Services sent a letter to Janet Yellen, the Secretary of the United States Treasury along with Gary Gensler, Chair of the Securities and Exchange...more
April 26, 2023- House Financial Services Committee Chairman Patrick McHenry (NC-10), Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill (AR-02), and Oversight and Investigations Subcommittee...more
In the News. The Office of the Comptroller of the Currency (OCC) issued a long-awaited rule seeking comment on its proposed approach to determine the Community Reinvestment Act (CRA) evaluation measure benchmarks, retail...more
In the News. Institutional Shareholder Services (ISS) published its proxy voting guidelines updates for 2021, which include new and updated voting recommendations on federal forum and exclusive forum provisions in companies’...more
In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more
Editor's Note - Friend the Fed! As is the case every August, our federal government and regulators are hard at work, laser focused on the important issues of the day. In this regard, on August 18, the Federal Reserve...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more
Why it matters - Federal regulators said they don’t expect perfection from banks trying to comply with the new mortgage disclosure requirements but will not turn a blind eye with regard to enforcement. In letters to...more
New York's Highest Court Will Review First Department Decision on RMBS Putback Statute of Limitations - On June 27, the Court of Appeals for the State of New York agreed to review the First Department's December 2013...more