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Results: 1-10 of 21

FinCEN proposes fifth BSA pillar

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • August 19 2014

On July 30, 2014, the Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (the Proposed Rule) to clarify and

One big misunderstanding: FDIC clarifies that caution on higher-risk activity is not a prohibition on third-party payment processor relationships

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • August 5 2014

On July 28, 2014, in response to growing pressure from Congress and the banking industry, the Federal Deposit Insurance Corporation (FDIC) issued

CFPB issues final ability to repay rule and ‘qualified mortgage’ standard

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • January 14 2013

On January 10, the Consumer Financial Protection Bureau (CFPB) issued a final rule, as mandated by provisions of the Dodd-Frank Wall Street Reform and

CFPB small business panels: what a change in ‘size standards’ could mean

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • November 7 2012

The Dodd-Frank Consumer Financial Protection Act gave the new Consumer Financial Protection Bureau (CFPB) the honor of being one of only three agencies subject to a statute that is aimed at providing extra protection for small businesses

Delaware imposes new restrictions on short-term lending

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • August 1 2012

On June 27, Delaware Gov. Jack Markell signed into law House Bill 289, legislation that places a number of severe limitations on short-term loans made by a Delaware licensed lender

OCC to banks: immediately plan for the current risky environment

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • July 24 2012

On July 5, 2012, the Office of the Comptroller of the Currency (OCC) issued its Semiannual Risk Perspective for spring 2012, which concludes that the top risks facing national banks and savings associations are (1) the aftereffects of the recent housing-driven credit boom-bust cycle, (2) revenue challenges related to slow economic growth and market volatility, and (3) the potential that banks may take excessive risks in an effort to improve stability and profitability

Comments due by April 16, 2012 on CFPB proposed rule to facilitate collection of materials protected by the attorney-client privilege

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • April 11 2012

On April 2, 2012, we reported that the Consumer Financial Protection Bureau announced on March 12, 2012 a Proposed Rule that provides that any supervised entity that submits privileged material to the CFPB (such as communications with counsel) in the course of the supervisory process does not waive the privilege and that on March 26, 2012 the House of Representatives passed H.R. 4014, a bill that if enacted into law would provide clear statutory authority for the Proposed Rule

Convergence: government and class actions target payment processing relationships

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • April 10 2012

Over the past year, the Federal Trade Commission (FTC) and the Federal Deposit Insurance Corporation (FDIC) have issued guidance to financial institutions and payment processors regarding risks associated with merchant banking

CFPB issues proposed rule on privileged information obtained from supervised entities and House passes bill that would authorize it, but concern remains about erosion of attorney-client privilege

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • April 2 2012

On March 12, 2012, the Consumer Financial Protection Bureau (the Bureau) announced a proposed rule (the Proposed Rule) to codify protections for privileged information obtained by the Bureau from financial institutions and other entities it supervises

First CFPB SBREFA panel convenes

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • March 2 2012

The Small Business Regulatory Enforcement Fairness Act (SBREFA) panel to consider the TILA-RESPA consolidation rule will convene on Tuesday, March 6, 2012