Section 13(3) of the Federal Reserve Act authorizes the Federal Reserve Board (FRB) in “unusual and exigent circumstances” to establish programs or facilities with “broad-based eligibility” that allow a Federal Reserve Bank...more
Section 13(3) of the Federal Reserve Act authorizes the Federal Reserve Board (FRB) in “unusual and exigent circumstances” to establish programs or facilities with “broad-based eligibility” that allow a Federal Reserve Bank...more
4/21/2020
/ CARES Act ,
Commercial Paper Funding Facility (CPFF) ,
Coronavirus/COVID-19 ,
Dodd-Frank ,
Federal Reserve ,
Financial Stimulus ,
FRB ,
Lenders ,
Liquidity ,
Main Street Lending Programs ,
Money Market Mutual Fund Liquidity Facility (MMLF) ,
Paycheck Protection Program (PPP) ,
Primary Dealer Credit Facility (PDCF) ,
Primary Market Corporate Credit Facility (PMCCF) ,
Relief Measures ,
Secondary Market Corporate Credit Facility (SMCCF) ,
Term Asset-Backed Securities Loan Facility (TALF)
On January 30, the Federal Reserve released a highly anticipated final rule that substantially updates and clarifies the agency's regulatory framework for determining when an investor exercises a controlling influence over a...more
2/18/2020
/ Bank Holding Company Act ,
Banks ,
Board of Directors ,
Controlling Influence Test ,
Divestiture ,
Federal Reserve ,
Fiduciary Duty ,
Final Rules ,
HOLA ,
Interlocking Directorate ,
Investment Funds ,
Investors ,
Proxy Contests ,
Rebuttable Presumptions ,
Senior Managers ,
Voting Securities
On August 5, 2019, the Board of Governors of the Federal Reserve System (“Board”) proposed the development of a real-time gross settlement service (“RTGS”) called “FedNow.” The service, expected to launch in 2023 or 2024,...more
9/5/2019
/ Banks ,
Board of Governors ,
Credit Unions ,
Federal Reserve ,
FedNow ,
Financial Institutions ,
Payment Systems ,
Proposed Rules ,
Public Comment ,
Real Time Payment (RTP) ,
Request For Information
The CFPB continued to be active in the consumer payments space in 2018, while the Federal Reserve and market participants considered the future of payment processing, including the development of faster payment systems....more
3/15/2019
/ Anti-Money Laundering ,
Anticompetitive Behavior ,
Blockchain ,
California Consumer Privacy Act (CCPA) ,
Compliance ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Data Privacy ,
Data Security ,
EFTA ,
Enforcement Actions ,
EU ,
Fair Access to Credit ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
FinTech ,
FRB ,
General Data Protection Regulation (GDPR) ,
Merchants ,
Ohio v American Express ,
Payment Processors ,
Popular ,
Prepaid Payment Products ,
Public Comment ,
Regulation CC ,
Regulation Z ,
Remittance Transfer Rule ,
SCOTUS ,
Sherman Act ,
Truth in Lending Act (TILA)