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Dodd-Frank Wall Street Reform and Consumer Protection Act Final Rules Banks

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Mayer Brown

CFPB Finalizes Long-Awaited Rule to Accelerate Open Banking Development; Immediately Sued

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On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rulemaking on Personal Financial Data Rights (the “Final Rule”). The Final Rule is intended to accelerate a shift towards open banking in the...more

Ballard Spahr LLP

Trade Associations Sue CFPB on Same Day as it Issues Final Open Banking Rule Under Section 1033 of Dodd-Frank

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On October 22, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued its final rule implementing Section 1033 of the Dodd-Frank Act (the “Final Rule” or the “Open Banking Rule”), granting consumers greater access...more

Bradley Arant Boult Cummings LLP

CFPB Issues Final Rule Implementing Section 1033 of Dodd-Frank Act

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) finalized its long-anticipated rule implementing Section 1033 of the Dodd-Frank Act. The 594-page final rule arrives nearly one year after the CFPB’s...more

Troutman Pepper

CFPB Issues Final Section 1033 Open Banking Rule: Legal Challenge Filed Immediately

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This week, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rule on personal financial data rights, purportedly aimed at enhancing consumer control over their financial data and promoting competition...more

Ballard Spahr LLP

Was it a pyrrhic victory for the CFPB in the Supreme Court in CFSA v. CFPB?

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On May 16, Justice Thomas issued the majority opinion in which the Supreme Court held, by a 7-2 vote, that the CFPB’s funding mechanism comported with the Appropriations Clause of the Constitution which states, in relevant...more

Troutman Pepper

On Heels of Supreme Court Decision, CFPB Announces Updated Compliance Dates for its 1071 Rule

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As discussed here, last week the U.S. Supreme Court issued its long-awaited decision in Community Financial Services Association of America, Limited (CFSA) v. Consumer Financial Protection Bureau (CFPB or Bureau) holding that...more

Troutman Pepper

Credit Union Trade Associations Move to Intervene in Case Challenging CFPB’s Enforcement of its Section 1071 Rule

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On August 10, two credit union trade associations — Credit Union National Association (CUNA) and Cornerstone Credit Union League — and Rally Credit Union (collectively, Proposed Intervenors) filed an Unopposed Emergency...more

Troutman Pepper

Banks From Coast to Coast Urge CFPB to Stay Implementation of its Section 1071 Final Rule

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On August 8, bankers associations from all 50 states sent a joint letter to the Consumer Financial Protection Bureau (CFPB or Bureau) urging it to stay enforcement and implementation of the small business data collection and...more

Goodwin

SEC Stays Busy With Amendments And Extensions To Various Rules, Definitions And Disclosures

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In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more

Goodwin

Financial Services Weekly: Amendments To SEC Proxy Solicitation Rules Approved By A 3-1 Vote

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In This Issue. The Securities and Exchange Commission (SEC) finalized amendments to its proxy solicitation rules that will modify the practices of proxy advisory firms, providing them with greater transparency and...more

Vedder Price

FDIC Finalizes Rule to Simplify Capital Calculations for Community Banks

Vedder Price on

On September 17, 2019, the Federal Deposit Insurance Corporation (the “FDIC”) passed a final rule providing qualifying community banking organizations the ability to opt-in to a new community bank leverage ratio (“CBLR”)...more

Stinson LLP

Emerging Trends Newsletter - Q4

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The Volcker Rule Under the Trump Administration - The so-called Volcker Rule—named after Paul Volcker, a former chairman of the Federal Reserve Board—was part of the Dodd-Frank Wall Street Reform and Consumer Protection...more

Goodwin

Financial Services Weekly News Roundup - December 2014 #5

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Editor’s Note: Spotlight on the Credit Risk Retention Rule: The OCC, Federal Reserve Board, FDIC, SEC, FHFA and HUD announced the adoption of a joint final rule (the Rule) to implement the credit risk retention...more

Perkins Coie

Financial Services Bulletin: Action at Federal Agencies

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The Federal Reserve Board Amends Stress Test Rules - On Friday, October 17, 2014, the Federal Reserve Board (the "Board") issued a final rule modifying the regulations for capital planning and stress testing and...more

Katten Muchin Rosenman LLP

Federal Banking Regulators Finalize Liquidity Coverage Ratio

On September 3, the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency finalized a rule to strengthen the liquidity positions of large financial institutions.The...more

Manatt, Phelps & Phillips, LLP

Let’s Get Mobile: The CFPB Turns Focus to Mobile Banking

After completing most of its required rulemaking under the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) is now looking at a wide array of consumer financial products and services for additional regulation....more

Skadden, Arps, Slate, Meagher & Flom LLP

"SEC Issues New FAQs on Municipal Advisor Rule"

On May 19, 2014, the SEC issued an updated set of FAQs on the rule defining and requiring municipal advisors to register with the SEC (the Rule). The updated FAQs provide clarification on several important issues for certain...more

Goodwin

SEC Updates Frequently Asked Questions Regarding Municipal Advisor Registration Rules

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The SEC’s Office of Municipal Securities has updated its frequently asked questions (the “FAQs”) that present its views regarding various aspects of the SEC’s municipal advisor registration rules (the “Final Rules”). (See...more

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