Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
May 20, 2024- Federal Deposit Insurance Corporation Chair Martin J. Gruenberg issued a statement announcing he is prepared to step down as Chair once a successor is confirmed. May 20, 2024 - Senator Sherrod Brown...more
May 1, 2024 - The U.S. House Committee on Financial Services Subcommittee on Financial Institutions and Monetary Policy held a hearing entitled, “Merger Policies of the Federal Banking Agencies.” The Committee heard...more
December 7, 2023- U.S. Senate Committee on Banking, Housing, and Urban Affairs Ranking Member Tim Scott (R-S.C.) and Banking Committee Republicans are calling on Federal Deposit Insurance Corporation Chairman Martin...more
November 1, 2023- The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. November 1, 2023- The U.S. Department of the Treasury's Federal Insurance...more
As we noted very briefly on Monday in our “Quick Take on a Sudden Change in the Banking Landscape,” among the various actions the government took Sunday evening to try to stabilize the banking market, the Federal Reserve...more
February 1, 2023- Superintendent of Financial Services Adrienne A. Harris announced today that the New York State Department of Financial Services has adopted a new regulation relating to disclosure requirements for...more
January 13, 2023- U.S. Secretary of the Treasury Janet L. Yellen sent a letter to all members of Congressional leadership regarding the debt limit. January 13, 2023- The UK-U.S. Financial Regulatory Working Group issued a...more
October 21, 2022 U.S. Secretary of the Treasury Janet L. Yellen and White House Office of Management and Budget Director Shalanda D. Young today released the final budget results for fiscal year 2022....more
The Consumer Financial Protection Bureau issued an advisory opinion addressing that federal law often could prohibit debt collectors from charging consumers "pay-to-pay" fees when a consumer seeks to make a payment in a...more
Legislation requires rent payment plans, mortgage relief, and foreclosure and eviction moratoriums. Residential and many commercial landlords may not increase rent and must make rent payment plans available to eligible...more
On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
Many of you have read about the power of the president to invoke the Defense Production Act to acquire products or direct the activities of suppliers based on a finding that it is necessary for the federal government to...more
Federal Reserve Revises Framework for Determining Control of a Banking Organization The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more
In addition to the guidance regarding Hurricane Harvey disaster relief, the housing agencies and government-sponsored enterprises (GSEs) recently addressed the mortgage-related relief available to victims of both Hurricane...more
The depth and impact of the 2007-08 financial crisis, rooted in residential finance, have been apparent for some time. There has never been doubt that its aftermath would transform the way mortgage lending operates in the...more