News & Analysis as of

Final Rules Proposed Rules Banks

GeoDataVision

Predictions regarding the 2023 CRA Rule and Section 1071 and how to prepare for expected developments

GeoDataVision on

Len & Dean examine how the 2023 CRA rule and Section 1071 could impose unrealistic standards on banks through rigid assessment areas, urging the industry to engage in the rulemaking process and prepare for regulatory changes...more

Orrick, Herrington & Sutcliffe LLP

House Financial Services Committee chair urges regulatory changes for CFPB and prudential regulators

On April 1, the Chairman of the U.S. House Committee on Financial Services, Rep. French Hill (R-AR) released nine letters they sent to the heads of the FDIC, the OCC, the Fed, the CFPB, the SEC, and the Federal Stability...more

GeoDataVision

Agencies Announce Intention to Rescind 2023 CRA Rule

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Today, March 28, the regulators announced what many have been anticipating. The Agencies issued a press release indicating they intend to rescind the 2023 CRA rule....more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2023

A recent OCC report identified key issues facing the federal banking system, including increasing credit risk due to higher interest rates, increasing risk in commercial real estate lending, prolonged inflation, declining...more

Ballard Spahr LLP

CFPB issues Semi-Annual Report to Congress; CFPB Director Chopra to appear before House and Senate Committees this week (UPDATED)

Ballard Spahr LLP on

Last week, the CFPB issued its Semi-Annual Report to Congress covering the period beginning October 1, 2022 and ending March 31, 2023. ...more

Goodwin

CFPB Withdraws Proposal to Delay Debt Collection Final Rules

Goodwin on

In This Issue. The Consumer Financial Protection Bureau (CFPB) withdrew its proposal to delay the Debt Collection Final Rules; the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance...more

Latham & Watkins LLP

Passive Foreign Investment Companies: Reinterpreting the Active Banking Exception for the Modern Banking Industry

Latham & Watkins LLP on

The passive foreign investment company (“PFIC”) rules generally impose unfavorable tax treatment on certain U.S. shareholders of foreign corporations that generate excess passive income or hold excess passive assets. In...more

Dechert LLP

Japanese Risk Retention: JFSA Favors Diligence Over Disruption

Dechert LLP on

The new Japanese Risk Retention Rules will lead to increased loan and collateral manager due diligence by Japanese investors but not wholesale changes to the CLO market. Background - On March 15, 2019, the Japanese...more

Skadden, Arps, Slate, Meagher & Flom LLP

"NYDFS Finalizes Rule to Regulate Transaction Monitoring, Filtering"

Financial institutions operating in New York — including New York state licensed banks, trust companies, private bankers, savings banks, savings and loan associations, branches of foreign banks, check cashers, and money...more

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