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Bank for International Settlements. Credit risk management. On April 30, 2024, Bank of International Settlements issued updated guidance on counterparty credit risk management. The fresh guidance reaffirms the need for...more
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
August 4, 2022- Following its stress test earlier this year, the Federal Reserve Board announced the individual capital requirements for all large banks, effective on October 1, 2022....more
HUD, VA, and USDA Coordinate Extensions of COVID-19 Relief for Homeowners - The U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture...more
The Biden transition has announced the members of its agency review teams....more
Federal Court in New York Dismisses Claims Against PPP Lenders for Agent Fees - A federal court in New York has dismissed claims made in six class action lawsuits against several banks and other Small Business...more
In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more
Federal Reserve Announces Plan for Real-Time Payment and Settlement Service - The Federal Reserve has announced that the Federal Reserve Banks will develop a new real-time gross settlement service with integrated clearing...more
Editor's Note - In This Issue. While we eagerly await its decision on interest rates, the Fed had a busy week, granting a Volcker Rule extension for illiquid funds, issuing a joint final rule with the FDIC and the OCC...more
Republican Congressman Patrick McHenry, Vice Chair of the House Financial Services Committee, has introduced the “Financial Services Innovation Act of 2016,” which is intended to provide a streamlined regulatory process for...more
The American Bankers Association has sent a letter to the DOJ, Fed, OCC, FDIC, HUD and CFPB requesting confirmation “in interagency guidance, updated exam procedures, and where appropriate amended regulations that the...more
On July 20, the Department of the Treasury published a Notice and Request for Information (“RFI”) seeking comment on various aspects of online marketplace lending, including – - the business models and products offered...more