The OCC recently finalized two broad updates to its regulations that increase flexibility for regulatory filings, including for corporate transactions such as business combinations, and update and clarify permissible...more
The Bureau of Consumer Financial Protection (CFPB or Bureau) has formally commenced its long-awaited rulemaking process to implement section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank...more
11/3/2020
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Consumer Data Requests ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Security ,
Dodd-Frank ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Public Comment ,
Rulemaking Process
The Office of the Comptroller of the Currency (OCC) issued a final rule that creates a bright-line test to determine when a national bank or federal savings association (bank) makes a loan and is the "true lender," including...more
The New York Department of Financial Services ("NYDFS") and the French Autorité de Contrôle Prudentiel et de Résolution ("ACPR") signed a Memorandum of Understanding ("MOU") to position New York and France as innovation hubs...more
6/26/2020
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
FinTech ,
France ,
Memorandum of Understanding ,
NYDFS ,
Regulatory Oversight ,
Regulatory Standards
On December 23, 2019, the New York Department of Financial Services (NYDFS) issued an Industry Letter instructing each institution it regulates, including banks and licensed Fintechs, to make submissions describing the...more
1/14/2020
/ Alternative Reference Rates Committee (ARRC) ,
Bank of New York (BNY) Mellon ,
Banks ,
Depository Institutions ,
Derivatives ,
Federal Bank Regulatory Agencies ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
FinTech ,
FRB ,
Industry Letters ,
Interest Rates ,
Lenders ,
Libor ,
Loans ,
Money Transmitter ,
NYDFS ,
Risk Assessment ,
Risk Mitigation ,
Secured Overnight Funding Rate (SOFR) ,
Securitization ,
Sterling Overnight Index Average (SONIA) ,
Transitional Arrangements ,
UK ,
Virtual Currency