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Ballard Spahr LLP

Proposals to Ease Capital Standards for New Banks Could Lead to More Failures, CRS Says

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In a recent report, the Congressional Research Service stated that capital formation remains the largest obstacle hampering the formation of de novo banks, but regulatory and legislative changes that have been proposed could...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 35: Meeting Compliance Challenges with AI-Powered Regtech Solutions

We have something a little different for this week’s episode. RegFi co-hosts Jerry Buckley and Caroline Stapleton recently joined the latest installment of the American Fintech Council’s Future of Finance Webinar Series. The...more

Goodwin

Pick Up the Indemnification Stick for Your True Lender Bundle

Goodwin on

In this edition of Fintech Flash, we discuss ways to think about true lender risk in fintech–bank lending partnerships, with a particular focus on how indemnification provisions in program agreements weigh in the balance of...more

Mayer Brown Free Writings + Perspectives

Comment Period for Basel III Endgame Proposal Closes

On January 16, 2024, the comment period closed for the US banking regulators’ Basel III Endgame proposal. Nearly 200 comment letters were submitted from the financial sector, commercial user, and the general public....more

Latham & Watkins LLP

10 Key Focus Areas for UK-Regulated Financial Services Firms in 2024

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In this publication, we explore some of the core focus areas for UK-regulated financial services firms in the year ahead. 2023 saw significant progress on the regulatory reform agenda, and many measures consulted on or...more

Cadwalader, Wickersham & Taft LLP

The Basel Committee and the Financial Stability Board Publish Reports on Lessons Learned From Recent Bank Failures

The Financial Stability Board (“FSB”) has published its report on 2023 Bank Failures: Preliminary lessons learnt for resolution which follows on from the report from the Basel Committee on Banking Supervision (“BCBS”) on the...more

Latham & Watkins LLP

Money Transmission Modernization Act Adopted in Several States

Latham & Watkins LLP on

The Act aims to modernize and streamline state regulation of money transmitters while promoting innovation and consumer protection. More than a dozen US states have enacted the Money Transmission Modernization Act (MTMA)...more

Mayer Brown Free Writings + Perspectives

A Road Not Taken: Where the US Capital Proposal Differs From Basel

On July 27, 2023, US federal banking regulators issued proposals to (i) significantly revise the riskbased regulatory capital requirements for certain midsize and larger US banking organizations (the “Capital Proposal”) and...more

Cadwalader, Wickersham & Taft LLP

The UK Consults on New Securitisation Rules

The Prudential Regulation Authority (“PRA”) has published Consultation Paper 15/23 – Securitisation: General requirements (“CP 15/23”) setting out its proposed rules to replace retained EU law requirements on...more

Moore & Van Allen PLLC

Federal Financial Regulatory Agencies Propose Quality Control Standards for Use of Automated Valuation Models

On June 1, six Federal financial regulatory agencies (Agencies) jointly issued a Notice of Proposed Rulemaking (the Proposed Rule) requiring the implementation of quality control standards for the use of automated valuation...more

Cadwalader, Wickersham & Taft LLP

UK Updates Its Green Finance Strategy and Launches ESG Ratings Regulation Consultation

On March 30, 2023, the UK government announced the publication of its 2023 green finance strategy, updating its earlier 2019 strategy, which is intended to mitigate climate-related risk and damage while increasing the amount...more

Orrick, Herrington & Sutcliffe LLP

FinCEN issues final rule replacing obsolete BSA civil penalty regulations

On December 23, the Financial Crimes Enforcement Network (FinCEN) published a final rule amending the Bank Secrecy Act civil penalty regulations concerning requirements for reporting foreign financial accounts and...more

Holland & Knight LLP

Se publica proyecto de Agenda Normativa de la URF para el 2023 en Colombia

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La Unidad de Regulación Financiera (URF) de Colombia publicó para comentarios el proyecto de Agenda Normativa de la entidad para el año 2023. Este documento define los principales asuntos regulatorios que orientarán el...more

Dechert LLP

Countdown to MiCA: The EU’s cryptoassets regulation

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On 30 June 2022, the European Council (Council) and the European Parliament (Parliament), announced that they had reached a provisional agreement on the proposal for regulation on markets in cryptoassets (MiCA), which covers...more

Cadwalader, Wickersham & Taft LLP

In Brief: Regulation Q and You – Capital Relief Trades for U.S. Banks

Over the last 18 months, we’ve seen a sharp uptick in inquiries from U.S. banks about how to use capital relief trades to manage regulatory capital constraints. Here, we set out our responses to some of the frequently asked...more

Bilzin Sumberg

Crypto Companies, Investors Await Looming Regulations and Litigation Resolutions

Bilzin Sumberg on

A staggering decline in value is not the only recent source of significant concern for cryptocurrency companies. In remarks made at the annual meeting of the Financial Industry Regulatory Authority (FINRA) earlier this month,...more

Dechert LLP

Supervisory Liability for CCOs Under FINRA Rule 3110

Dechert LLP on

The Financial Industry Regulatory Authority issued a regulatory notice clarifying the scope of supervisory liability under FINRA Rule 3110 of a broker-dealer’s chief compliance officer (CCO) (Regulatory Notice). FINRA’s Head...more

Manatt, Phelps & Phillips, LLP

Illinois Set to Impose Significant Obligations on College and Financial Aid Advisory Services

Illinois adopted a first-of-its-kind law regulating entities that advise consumers about college or career searches, financial aid, or scholarships, or that assist with planning, preparing or submitting applications on behalf...more

Jones Day

U.S. Federal Banking Regulators Announce Plan for Crypto-Asset Policy Initiative

Jones Day on

The interagency "policy sprints" are designed to give banks guidance on how to navigate crypto-assets moving forward. On November 23, 2021, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance...more

Jones Day

Massachusetts Enacts and Implements New Student Loan Servicing Law

Jones Day on

The Massachusetts Student Loan Borrower Bill of Rights The SL Bill of Rights came into effect on July 1, 2021, and the DOB issued its implementing regulations on the same day. Building upon and codifying earlier proposed...more

Bradley Arant Boult Cummings LLP

What the Proposed North Carolina Regulatory Sandbox Could Mean for Fintech and the Financial Services Community

Technology is booming and financial technology (“fintech”) is advancing society in new and innovative ways. In 2021 alone, North Carolina has been the target for some very high-profile technology announcements, including...more

Cadwalader, Wickersham & Taft LLP

Marketplace Lending Update #10: OCC’s True Lender Rule Is Repealed

On June 30, 2021, President Biden signed a joint resolution of Congress under the Congressional Review Act (“CRA”) to disapprove the OCC’s True Lender Rule. As a result, the True Lender Rule is now repealed....more

Manatt, Phelps & Phillips, LLP

Fair Lending: HUD to Reinstate Lower Bar for Proving Disparate Impact

On June 25, the Department of Housing and Urban Development (HUD) published in the Federal Register a proposal to rescind its own 2020 disparate impact rule (2020 Rule). In its place, HUD is proposing to recodify and restore...more

Cadwalader, Wickersham & Taft LLP

Marketplace Lending Update #9: To Thine Own Self Be True? Not Necessarily

On May 11, the Senate voted 52-47 (with three Republicans joining 49 Democrats) to pass a joint resolution under the Congressional Review Act (“CRA”) to disapprove of (i.e., rescind) the Office of Comptroller of the...more

Mayer Brown

Congress Prepares to Invalidate OCC’s True Lender Rule

Mayer Brown on

On Thursday (March 26, 2021), Senator Chris Van Hollen (D-MD) introduced a Congressional Review Act (CRA) resolution of disapproval to invalidate the Office of the Comptroller of the Currency’s (OCC) true lender rule....more

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