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SEC charges Citigroup and two executives in connection with misleading information regarding exposure to subprime assets
  • Alston & Bird LLP
  • USA
  • July 30 2010

Yesterday, the Securities and Exchange Commission ("SEC") charged Citigroup with misleading investors concerning the company's exposure to subprime mortgage-related assets


Latest developments in the foreclosure documentation crisis
  • Alston & Bird LLP
  • USA
  • October 19 2010

Various developments have occurred this week relating to the heightened concern over defective foreclosure processes and the moratoriums on foreclosure proceedings instituted by certain financial services companies, including Bank of America and GMAC, a subsidiary of Ally Financial


World Bank Group and International Monetary Fund to hold Annual Meetings in Washington, D.C. over weekend
  • Alston & Bird LLP
  • Global
  • October 5 2010

The Boards of Governors of the World Bank Group and the International Monetary Fund (IMF) will be holding their Annual Meeting this upcoming weekend in Washington, DC


New York Fed issues statement regarding counterparties for reverse repo agreements
  • Alston & Bird LLP
  • USA
  • March 8 2010

Today, the Federal Reserve Bank of New York (FRBNY) announced the commencement of a program to expand its counterparties for conducting reverse repurchase agreement transactions, pursuant to the FRBNY statement issued last October


European Commission proposes reinforcing European Union economic policy coordination
  • Alston & Bird LLP
  • European Union
  • May 12 2010

Today, the European Commission issued a Communication, largely as a result of the Greek debt crisis, setting forth proposed measures to strengthen Europe's economic governance


Fed Chairman Bernanke and former Fed Chairman Volcker send letters to Senator Dodd opposing amendment permitting GAO to audit the Fed
  • Alston & Bird LLP
  • USA
  • May 7 2010

Yesterday, current Federal Reserve Chairman Ben Bernanke and former Federal Reserve Chairman Paul Volcker sent separate letters to Senator Christopher Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, expressing their opposition to proposed amendments to the Senate financial regulatory reform bill that would permit the Government Accountability Office (GAO) to audit the Federal Reserve


European Parliament approves financial supervision reform package
  • Alston & Bird LLP
  • European Union
  • September 23 2010

Yesterday, the European Commission voted to approve the financial supervision reform package, which will shift the manner in which banks, stock markets and insurance companies are supervised and policed in Europe


House Financial Services Subcommittee holds hearing on impact of credit scores and reports on consumers
  • Alston & Bird LLP
  • USA
  • March 25 2010

Yesterday, the House Financial Services Subcommittee on Financial Institutions and Consumer Credit held a hearing entitled "Keeping Score on Credit Scores: An Overview of Credit Scores, Credit Reports and their Impact on Consumers"


Basel Committee on Banking Supervision issues final paper on good practice principles on supervisory colleges
  • Alston & Bird LLP
  • Global
  • October 12 2010

Today, the Basel Committee on Banking Supervision issued a set of principles aimed at promoting and strengthening the operation of supervisory colleges, set forth in the final version of its paper entitled "Good Practice Principles on Supervisory Colleges."


Federal Reserve Vice Chairman Kohn submits notice of intent to resign
  • Alston & Bird LLP
  • USA
  • March 1 2010

Today, Donald Kohn submitted notice of his intent to resign as the Vice Chairman and member of the Board of Governors of the Federal Reserve System, effective at the expiration of his term as Vice Chairman on June 23