Mondaq USA: Finance and Banking
Shearman & Sterling LLP
The US Board of Governors of the Federal Reserve System announced that the Office of Financial Policy and Research has been renamed as the Division of Financial Stability and designated as a division of the Federal Reserve.
Cadwalader, Wickersham & Taft LLP
Cadwalader attorneys reviewed the Financial Crimes Enforcement Network's final version of "Customer Due Diligence Rules."
Cadwalader, Wickersham & Taft LLP
Leading financial services industry participants and lawmakers from Congress examined the role of the capital markets in funding green initiatives at a SIFMA roundtable.
Cadwalader, Wickersham & Taft LLP
The European Union Securities Financing Transactions Regulation will require parties that accept collateral in connection with financial transactions to inform their counterparties of risks and consequences...
BakerHostetler
The Supreme Court reversed a decision of the Sixth Circuit holding that private attorneys contracted by a state attorney general's office to collect debt owed to state agencies or instrumentalities violated the FDCPA...
BakerHostetler
The rule applies to any pre-dispute arbitration agreement between consumers and providers of consumer financial products or services as well as any affiliate of a provider that is acting as a service provider to the provider.
Morrison & Foerster LLP
On May 11th, 2016, the Financial Crimes Enforcement Network ("FinCEN"), a bureau of the Department of the Treasury, published a Final Rule on customer due diligence...
Mayer Brown
According to the CFPB's latest rulemaking agenda, the agency is pushing back to "this summer" release of the final rule on prepaid accounts.
Cadwalader, Wickersham & Taft LLP
Energy Metro Desk provided highlights of the proceedings of the Futures Industry Association ("FIA") 38th Annual Law & Compliance Conference on the Regulation of Futures, Derivatives and OTC Products.
Cadwalader, Wickersham & Taft LLP
The CFTC Division of Swap Dealer and Intermediary Oversight and the CFTC Office of the Chief Economist published a report on the Residual Interest Deadline for Futures Commission Merchants.
Orrick
On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) issued and sought comment on proposed rules prohibiting mandatory arbitration clauses that deny groups of consumers their day in court.
Jones Day
Noncompliance could result in material adverse regulatory action, especially where anti-money laundering compliance is affected.
Morrison & Foerster LLP
On May 10, 2016, the U.S. Department of the Treasury ("Treasury") issued a white paper, entitled "Opportunities and Challenges in Online Marketplace Lending" ("White Paper").
Hughes Hubbard & Reed LLP
The determination by the Financial Stability Oversight Council that MetLife, Inc. could "pose a threat to the financial stability of the United States" was recently rescinded by the District Court for the District of Columbia.
Orrick
On May 10, 2016, the Department of the Treasury issued a white paper on online marketplace lending that maps the current market landscape, reviews industry insights and offers policy proposals for the road ahead.
Orrick
On May 9, 2016, Moody's published its cross-sector approach to mapping national scale ratings (NSRs) from their global scale ratings (GSRs).
Orrick
On May 5, 2016, the U.S. Department of the Treasury announced a Customer Due Diligence (CDD) Final Rule that requires financial institutions to conduct certain diligence...
Orrick
The deadline for comments is July 22, 2016.
Mayer Brown
The guidance does not impose any new requirements, but reminds institutions of the expectation that they implement policies and procedures to protect customers where there is a credit discrepancy.
Cadwalader, Wickersham & Taft LLP
On May 11, 2016, the Financial Crimes Enforcement Network ("FinCEN") issued the final version of its long-awaited "Customer Due Diligence Rules" under the Bank Secrecy Act.
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Shearman & Sterling LLP
Neither agency found that Citigroup's resolution plan was not credible, although the agencies did identify certain shortcomings that Citigroup must address.
Proskauer Rose LLP
As we previously discussed, SEC Chair Mary Jo White recently delivered the keynote address at the Silicon Valley Initiative hosted by the SEC-Rock Center for Corporate Governance at Stanford University.
Ropes & Gray LLP
Privacy and data security concerns are among the most critical issues facing investment funds, advisors and managers (collectively, "investment firms").
Lewis Rice
On March 22, 2016, the U.S. Supreme Court, on a 4-4 split vote following the death of Justice Antonin Scalia, let stand the U.S. Court of Appeals for the Eighth Circuit's decision in Hawkins v. Community Bank of Raymore...
Proskauer Rose LLP
Yesterday, SEC Director of Enforcement Andrew Ceresney gave a keynote address on Private Equity Enforcement.
Shearman & Sterling LLP
The basic tenet of "securitisation" is simple: the creation and issuance of debt securities for which the payment of principal and interest primarily depends on cash flows generated...
Thompson Coburn LLP
On April 6, 2016, the Department of Labor released the final version of its highly anticipated fiduciary rule.
Kramer Levin Naftalis & Frankel LLP
Corporate inversions have been at the forefront of discussions regarding international tax reform.
Jones Day
Arbitration as a means of dispute resolution is intended to help consumers and businesses save time and money and achieve fair results when compared to traditional litigation.
Mayer Brown
The Illinois Senate Financial Institutions Committee recently approved a measure, Senate Bill 2865, that seeks to license and regulate business-purpose lenders.
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