“The Office of Financial Research (OFR) today submitted to Congress its 2013 Annual Report, fulfilling a requirement to annually assess the state of the United States financial system and analyze threats to U.S. financial stability. According to the report, threats include vulnerabilities in markets for securities financing transactions and credit, vulnerabilities to an increase in interest rates and… Continue Reading
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Category Archives: Legislation
Commentary – The Decay of American Political Institutions
The Decay of American Political Institutions by FRANCIS FUKUYAMA. We have a problem, but we can’t see it clearly because our focus too often discounts history. Published on December 8, 2013 “Many political institutions in the United States are decaying. This is not the same thing as the broader phenomenon of societal or civilization decline, which has become… Continue Reading
How to Modernize and Improve the System of Insurance Regulation in the United States
How to Modernize and Improve the System of Insurance Regulation in the United States “The U.S. Department of the Treasury’s Federal Insurance Office (FIO) today submitted to Congress and released a report on how to modernize and improve the system of insurance regulation in the United States. Given the significance of the insurance sector in… Continue Reading
The Volcker Rule: A Comparison
Sherman & Sterling: “On December 10 2013, the final regulation implementing the Volcker Rule was adopted by the five US federal bank regulatory agencies. This comes over two years after the publication of the proposed regulation. The text below illustrates the differences between the final and proposed texts.” [Andrew Young] Continue Reading
Agencies Issue Final Rules Implementing the Volcker Rule
“Five federal agencies on Tuesday issued final rules developed jointly to implement section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Volcker Rule”). The final rules prohibit insured depository institutions and companies affiliated with insured depository institutions (“banking entities”) from engaging in short-term proprietary trading of certain securities, derivatives, commodity futures and… Continue Reading
Financial Institutions, the Market, and the Continuing Problem of Executive Compensation
Financial Institutions, the Market, and the Continuing Problem of Executive Compensation, J. Robert Brown Jr., University of Denver Sturm College of Law. November 13, 2013. Financial Institutions, the Market, and the Continuing Problem of Executive Compensation, Americans for Financial Reform and the Roosevelt Institute, Nov. 12, 2013. U Denver Legal Studies Research Paper No. 14-06 “The financial crisis of 2008… Continue Reading
American Library Association gathering support to protect user metadata and privacy
The Hill, Kate Tummarello: “…You need to have some freedom to learn about what you think is important without worrying about whether it ends up in some FBI file,” said Alan Inouye, director of the Office for Information Technology Policy at the American Library Association (ALA). Government snooping of libraries has a long history. Under the Patriot… Continue Reading
Legislative Actions to Repeal, Defund, or Delay the Affordable Care Act
CRS – Legislative Actions to Repeal, Defund, or Delay the Affordable Care Act – C. Stephen Redhead, Specialist in Health Policy; Janet Kinzer, Information Research Specialist. November 22, 2013. “Congress is deeply divided over implementation of the Patient Protection and Affordable Care Act (ACA), the health reform law enacted in March 2010.Since the ACA’s enactment, lawmakers opposed to specific provisions in the ACA,… Continue Reading
CRS – Past Government Shutdowns: Key Resources
Past Government Shutdowns: Key Resources: Jared C. Nagel, Information Research Specialist; Justin Murray, Information Research Specialist. November 25, 2013 “This report provides historical documents and other resources related to past government shutdowns, along with brief annotations that describe the contents of the documents. The report includes links to full-text documents when available. There is limited information and guidance related to… Continue Reading
The FDIC’s Progress in Implementing Systemic Resolution Authorities under Dodd-Frank Act
FDIC Office of Audits and Evaluations Report No. AUD-14-001 – The FDIC’s Progress in Implementing Systemic Resolution Authorities under the Dodd-Frank Act, November 2013. “The Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) created a comprehensive new regulatory and resolution framework designed to avoid the severe consequences of financial instability. Among other things, the Dodd-Frank Act gave the FDIC broad… Continue Reading
FinCEN, Federal Reserve Finalize Rule Amending Definitions in the Bank Secrecy Act
“The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, and the Federal Reserve Board on Tuesday announced a final rule amending the definitions of “funds transfer” and “transmittal of funds” under regulations implementing the Bank Secrecy Act. The final rule adopts the amendments as proposed in November 2012. The amendments… Continue Reading
New GAO Reports – Federal Real Property, Employment, Workforce Investment Act
FEDERAL REAL PROPERTY – GSA Should Clarify Savings Goals for the National Broker Contract Program, GAO-14-14, Oct 31, 2013 FEDERAL REAL PROPERTY – Improved Standards Needed to Ensure That Agencies’ Reported Cost Savings Are Reliable and Transparent, GAO-14-12, Oct 29, 2013 EMPLOYMENT – Results for Survey of Workforce Investment Boards (GAO-14-20SP, December 2013), an E-supplement to GAO-14-19, GAO-14-20SP, Dec 2, 2013… Continue Reading
