Search Results: Regulation

OCC, FRB, and FDIC Push Ahead on Reducing Regulation of Community Banks

On May 4, 2015, Comptroller of the Currency Thomas Curry, Federal Reserve Board (FRB) Governor Daniel Tarullo, and Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg held the third in a series of outreach meetings to discuss with the public their efforts to reduce the regulatory burden on community banks…

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Financial Services Firms' Projected Cybersecurity Spending Increase Is Money Well Spent

One of the most persistent and insidious threats to companies is cyber attacks.  Whether these attacks involve theft of intellectual property, installation of malware, or denial of service, they pose a significant risk to businesses and their customers.  For many companies, especially financial services companies, the risk is heightened by…

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An In-Depth Analysis of the CFPB’s Proposed New Rules on Pre-Paid Cards

On Monday, November 17, we briefly discussed the CFPB’s newly proposed prepaid card rules.  Today we elaborate on these newly proposed rules, and their effect on issuers if these new rules are implemented by the CFPB. Scope: The CFPB explained what it considers to be a prepaid card for purposes of…

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CFPB Finalizes Mortgage Rules Amendments

On October 22, the CFPB issued amendments to the Dodd-Frank Act mortgage rules that took effect in January 2014.  The amendments include: ATR/QM Cure Provision: Under the Ability-to-Repay/Qualified Mortgage Rule, a mortgage loan must meet certain requirements to be considered a “qualified mortgage”.  One such requirement is that the points and fees…

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