Mortgages, Corporate Governance

Iowa Adopts Mortgage Servicer Prudential Standards

Alston & Bird on 5/20/2024

What Happened? Effective July 1, Iowa House File 2392 (the “Iowa Law”) enacts mortgage servicer prudential standards (codified in Chapter 535B of the Iowa Code) that largely follow those promoted by the Conference of State...more

Iowa enacts prudential standard and corporate governance requirements for mortgage servicers

Orrick, Herrington & Sutcliffe LLP on 4/22/2024

On April 10, Iowa enacted HF 2392 (the “Act”) which will establish prudential safety and soundness requirements on mortgage servicers. The Act will establish prudential standards and corporate governance requirements on...more

NYDFS Finalizes Climate Risk Management Guidance

Mayer Brown on 1/4/2024

On December 21, 2023, the New York Department of Financial Services (“NYDFS”) finalized guidance on how the banks and mortgage institutions it regulates (“New York Institutions”) should manage climate-related financial and...more

Connecticut and Maryland Adopt Model Mortgage Servicer Prudential Standards

Alston & Bird on 8/3/2022

A&B Abstract: On May 24, 2022, Connecticut enacted legislation that, among other things, adds financial condition and corporate governance requirements for certain licensed mortgage servicers (the “CT Standards”). In similar...more

ISS Publishes 2021 Proxy Voting Guidelines

Goodwin on 11/19/2020

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

Are Financial Institutions Creating a Corporate Governance Strategy to handle the End of Libor?

Foodman CPAs & Advisors on 8/21/2020

The London Interbank Offered Rate (LIBOR) expires at the end of 2021. Used since the early 1980s, LIBOR is the most referenced global short-term interest rate, and a “standard benchmark”....more

2020 Legislative Changes Affecting Virginia Community Associations

Woods Rogers on 7/8/2020

The 2020 legislative session was notable for a few reasons. First, the Democrats held the majority of seats in both houses of the General Assembly for the first time in recent history. Second, the legislature also took...more

D.C. Circuit Upholds CFPB’s Constitutionality: Why the PHH Case Underscores the Importance of Internal Agency Discipline

Dorsey & Whitney LLP on 2/14/2018

On January 31, the U.S. Court of Appeals for the D.C. Circuit issued a plurality opinion en banc that confirmed the constitutionality of the Consumer Financial Protection Bureau’s (“CFPB”) governance by a sole Director, while...more

Year in Review: Legislation and Guidance for Federal Financial Institutions in 2017

Blake, Cassels & Graydon LLP on 2/8/2018

2017 marked another year of prodigious development of legislation and regulatory guidance impacting federal financial institutions in Canada. The new wave of initiatives in 2017 included the second stage of the...more

Financial Services Weekly News - November 2017 #4

Goodwin on 11/30/2017

Editor's Note - A Tale of Two Agencies. On November 27, Joseph M. Otting was sworn in as the 31st Comptroller of the Currency. Mr. Otting seamlessly succeeded Keith A. Noreika, who became Acting Comptroller in May 2017...more

Nutter Bank Report, November 2017

Nutter McClennen & Fish LLP on 11/30/2017

Bipartisan Regulatory Relief Bill for Smaller Financial Institutions Introduced in Senate Bipartisan legislation has been introduced in the U.S. Senate, aimed at reducing regulatory burden on community banks, providing new...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 5/17/2017

An EU high court opinion yesterday about a trade deal with Singapore could throw yet another stumbling block in the way of Britain’s exit of the union. Read on for more on the intricacies of the EU division of competencies....more

Year in Review: Legislation and Guidance for Financial Institutions in 2016

Blake, Cassels & Graydon LLP on 1/19/2017

The regulation of federally regulated financial institutions (FRFIs) continued intensifying in 2016 with a new wave of legislative and regulatory initiatives impacting mortgage lending, the bank resolution regime, the life...more

Financial Services Weekly News - December 2016

Goodwin on 12/7/2016

Editor's Note - OCC to Move Forward with Federal FinTech Charter. In a development foreshadowed in the April 6, June 29 and September 14 editions of the Roundup, on December 2, the Office of the Comptroller of the...more

M&A Update: New York Court of Appeals Rejects Extension of Common Interest Privilege to Merger Talks

Cadwalader, Wickersham & Taft LLP on 6/16/2016

On June 9, 2016, a divided New York Court of Appeals in a much-anticipated ruling held that the attorney-client privilege can only be maintained for communications involving third parties in situations where litigation is...more

Corporate & Financial Weekly Digest - Volume X, Issue 24

Katten Muchin Rosenman LLP on 6/22/2015

In This Issue: - SEC Denies Motion to Stay Regulation A+ - SEC Requests Public Comment on ETPs - CFTC Further Extends Valuation Data Reporting Relief for SDs and MSPs - Eleventh Circuit Upholds...more

Dodd-Frank Implementation: Navigating the Road Ahead

Morrison & Foerster LLP on 12/29/2012

Table of Contents: Introduction; Financial Stability Reform; Resolution Planning; Agencies and Agency Oversight Reform; Securitization Reform; Derivatives Regulation; Investor Protection Reform; Credit Rating Agency...more

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