Mondaq USA: Finance and Banking > Financial Services
Shearman & Sterling LLP
In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates.
Smith Gambrell & Russell LLP
The Eleventh Circuit considered whether a bank could invoke an arbitration clause to block litigation when the bank had added the arbitration clause to its customer agreement by amendment while the litigation was in progress.
Troutman Sanders LLP
In Culberson v. Walt Disney Parks and Resorts, the Culbersons brought a class action lawsuit against Disney under the Fair Credit Reporting Act ("FCRA").
Davis & Gilbert
For all the talk about Dreamers in the national immigration debate, a recent research paper positing the positive effect of erasing the nation's $1.3 trillion student debt burden has given the term new meaning.
Kramer Levin Naftalis & Frankel LLP
The Securities and Exchange Commission (SEC) has approved a proposal by the New York Stock Exchange (NYSE) to facilitate listing on the NYSE without a prior underwritten public offering.
Cadwalader, Wickersham & Taft LLP
FDIC Chair Martin Gruenberg described progress in the resolution-planning process for systemically important financial institutions ("SIFIs").
Milbank, Tweed, Hadley & McCloy LLP
A three-judge panel of the D.C. Circuit issued a unanimous decision holding that the final rules implementing the requirements of Section 941 of the Dodd-Frank Act do not apply to "open-market CLO" managers.
Fredrikson & Byron, P.A.
The twin pressures of succession planning and increased regulatory burdens have caused many bank owners to consider selling their banks.
Morrison & Foerster LLP
On February 14, 2018, the CFPB issued a Request for Information seeking comments on improvements to the CFPB's supervision program and "how best to achieve meaningful burden reduction."
Cadwalader, Wickersham & Taft LLP
The CFTC warned customers about virtual currency pump-and-dump schemes conducted in unregulated online cash markets.
Cadwalader, Wickersham & Taft LLP
The Federal Trade Commission ("FTC") returned more than $2.9 million to the victims of an alleged payday lending fraud scheme.
Shearman & Sterling LLP
On November 6, 2017, the US Federal Reserve Bank of New York announced that President and Chief Executive Officer William C. Dudley plans to retire in mid-2018 ...
Shearman & Sterling LLP
On November 6, 2017, US Treasury Secretary Steven Mnuchin announced that Richard Berner, director of the Office of Financial Research, will step down effective December 31, 2017 ...
Troutman Sanders LLP
The deal ran into trouble soon thereafter, as the parties had difficulty finding and locating individual class members.
Troutman Sanders LLP
A state court in Arizona returned a $1.85 million verdict against two related rental car companies, resolving a consumer fraud suit raised by the Arizona Attorney General's Office. The A.G.'s Office originally filed suit against Phoenix Car Rental, Saban's Rent-A-Car, and the companies' owner, Dennis N. Saban, in 2014, alleging violation of the Arizona Consumer Fraud Act.
Cadwalader, Wickersham & Taft LLP
Millennials are most vulnerable to FinTech fraud, according to a new North American Securities Administrators Association Pulse Survey of securities regulators.
Cadwalader, Wickersham & Taft LLP
U.S. Bancorp and its operating subsidiary, U.S. Bank, entered into agreements to pay $613 million to resolve allegations that U.S. Bank broke Bank Secrecy Act/Anti-Money Laundering ("BSA/AML") rules.
Cadwalader, Wickersham & Taft LLP
CFTC Chair J. Christopher Giancarlo reaffirmed his commitment to a cross-border deference-based approach to clearinghouse regulation, encouraged expanded Congressional oversight over virtual currencies, and provided updates on several rulemaking initiatives.
Pryor Cashman LLP
On February 15, 2018, federal authorities - including the U.S. Department of Justice - filed charges against U.S. Bank, the fifth-largest commercial bank by assets in the United States, for allegedly neglecting anti-money laundering rules, helping a payday lender operate an illegal business and lying to a regulator.
Davis & Gilbert
Wells Fargo is being put on a highly restrictive diet by the Federal Reserve and won't get any relief until its compliance and governance shape up. Under the terms of the Fed's Consent Order ...
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BakerHostetler
On Dec. 5, 2017, the Federal Trade Commission reached a settlement with three defendants who it alleged partook in deceptive, abusive and unfair debt collection practices ...
Hughes Hubbard & Reed LLP
HSBC seems no stranger to regulatory news in the United States recently.
Poyner Spruill LLP
Twelve years old. In North Carolina, a person as young as twelve years old may ride alone in a fully autonomous—or, "driverless"—vehicle.
Dentons
What do you do when Africa's richest man, Aliko Dangote, publicly says that he is not in favour of investing in a fintech start-up and would rather invest in agriculture?
Reed Smith
On Tuesday February 6, 2018, U.S. Treasury Secretary Steven Mnuchin, in a speech before the House Financial Services Committee, offered some insights into how the Treasury Department ...
Mayer Brown
The U.S. Court of Appeals for the D.C. Circuit (the "court") has issued its long-awaited en banc decision in PHH v. CFPB.
Carlton Fields
Deficiency: a deficiency action is not an action to collect a consumer debt and, therefore, section 559.715, Florida Statutes, requiring 30 days' notice before any action to collect the debt...
Cadwalader, Wickersham & Taft LLP
The "FATF Public Statement," which was published on November 3, 2017, identifies jurisdictions that are subject to its call for countermeasures or are subject to enhanced due diligence due to their strategic AML/CFT deficiencies.
Cadwalader, Wickersham & Taft LLP
A three-judge panel of the U.S. Court of Appeals for the D.C. Circuit ruled in favor of the Loan Syndications and Trading Association ("LSTA") ...
Cadwalader, Wickersham & Taft LLP
Millennials are most vulnerable to FinTech fraud, according to a new North American Securities Administrators Association Pulse Survey of securities regulators.
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