U.S. Securities and Exchange Commission Annual Staff Report Relating to the Use of Data Collected from Private Fund Systemic Risk Reports, July 24, 2013 “The Dodd-Frank Act provided the Commission with new authority, and directed it to use this authority to require registered investment advisers to maintain records and file reports regarding the hedge funds,… Continue Reading
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The Merchants of Wall Street: Banking, Commerce, and Commodities
The Merchants of Wall Street: Banking, Commerce, and Commodities – Saule T. Omarova, University of North Carolina at Chapel Hill School of Law, November 24, 2012 Minnesota Law Review, Vol. 98, 2013 “This article examines the principal legal, policy, and theoretical implications of a transformative – but so far unrecognized – change in the banking… Continue Reading
Davis Polk: Dodd – Frank Progress Report, July 15, 2013
Dodd-Frank Progress Report Generated using the Davis Polk Regulatory Tracker™. July 15, 2013 – “As of July 15, 2013, a total of 279 Dodd-Frank rulemaking requirement deadlines have passed. This is 70.1% of the 398 total rulemaking requirements, and 99.6% of the 280 rulemaking requirements with specified deadlines. Of these 279 passed deadlines, 172 (61.6%)… Continue Reading
Agencies Issue Proposed Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements
News release: “Six federal financial regulatory agencies today issued a proposed rule that would create exemptions from certain appraisal requirements for a subset of higher-priced mortgage loans. The proposed exemptions are intended to save borrowers time and money and to promote the safety and soundness of creditors. The appraisal requirements for higher-priced mortgages were imposed… Continue Reading
Federal Reserve Board approves final rule to help ensure banks maintain strong capital positions
News release: “The Federal Reserve Board on [July 2, 2013] approved a final rule to help ensure banks maintain strong capital positions that will enable them to continue lending to creditworthy households and businesses even after unforeseen losses and during severe economic downturns. The final rule minimizes burden on smaller, less complex financial institutions.; It… Continue Reading
CRS – The Commodity Futures Trading Commission: Background and Current Issues
The Commodity Futures Trading Commission: Background and Current Issues – Rena S. Miller – Analyst in Financial Economics, June 24, 2013 “The CFTC witnessed a major expansion of its role in overseeing derivatives markets following passage of the Dodd-Frank Act in 2010. This act br ought previously unregulated over-the-counter (OTC) derivatives, called swaps, under the… Continue Reading
CRS – Financial Stability Oversight Council: A Framework to Mitigate Systemic Risk
CRS – Financial Stability Oversight Council: A Framework to Mitigate Systemic Risk, by Edward V. Murphy, Specialist in Financial Economics. May 21, 2013: “The Financial Stability Oversight Council (FSOC) was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA; P.L. 111-203) in 2010 as part of a comprehensive reform of banking and securities… Continue Reading
FTC Issues Annual Financial Acts Enforcement Letter to CFPB
News release: “The Federal Trade Commission has issued its annual letter to the Consumer Financial Protection Bureau (CFPB) on FTC enforcement and related activities regarding the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), Electronic Fund Transfer Act (EFTA), and Equal Credit Opportunity Act (ECOA). This year’s letter also discusses the Dodd-Frank Act, and… Continue Reading
Chairman Bernake Speech – Monitoring the Financial System
Chairman Ben S. Bernanke At the 49th Annual Conference on Bank Structure and Competition sponsored by the Federal Reserve Bank of Chicago, Chicago, Illinois – May 10, 2013 – Monitoring the Financial System “The step-up in our monitoring is motivated importantly by a shift in financial regulation and supervision toward a more macroprudential, or systemic,… Continue Reading
Paper – Regulating Systemically Important Financial Institutions That Are Not Banks
Regulating Systemically Important Financial Institutions That Are Not Banks Douglas J. Elliott: “Certain financial institutions are so central to the American financial system that their failure could cause traumatic damage, both to financial markets and the larger economy. These institutions are often referred to as “systemically important financial institutions” or SIFIs. The Dodd-Frank Act, the… Continue Reading
Student Loan Affordability Analysis of Public Input on Impact and Solutions
CFPB: Student Loan Affordability Analysis of Public Input on Impact and Solutions, May 8, 2013 “The Dodd-Frank Wall Street Reform and Consumer Protection Act established a student loan ombudsman within the Consumer Financial Protection Bureau to focus on student loans. Pursuant to the Act, the ombudsman shall conduct analysis on input from borrowers, prepare an… Continue Reading
Survey of Federal Whistleblower and Anti-Retaliation Laws
Survey of Federal Whistleblower and Anti-Retaliation Laws, Jon O. Shimabukuro, Legislative Attorney; L. Paige Whitaker, Legislative Attorney; Emily E. Roberts, Law Librarian. April 22, 2013 “This report provides an overview of federal whistleblower and anti-retaliation laws. In general, these laws protect employees who report misconduct by their employers or who engage in various protected activities,… Continue Reading
