Financial Services Spotlight

October and November Developments

Posted by Roy Andersen on Dec 8, 2017 8:40:22 AM

Overview

For the first time in my memory, the Congress passed a joint resolution to disapprove a final regulation of a federal agency—in this case the CFPB and the rule was related to arbitration clauses in contracts for consumer financial products. In addition, the agencies amended certain definitions under CRA and these changes should be reflected in CRA policies and procedures at banks. Both the OCC and FDIC published final rules on requirements for Qualified Financial Contracts and introduced required language for larger banks.

Read More

Topics: CFPB, FDIC, Qualified Financial Contracts, Mortgage Servicing, QVC

April 2016 Second Half Developments

Posted by Roy Andersen on May 5, 2016 12:00:00 PM

Overview

The President issued an order subjecting certain Libyan persons to asset blocking and travel restrictions due to the deteriorating conditions in Libya.  OFAC will most likely update its sanctions to reflect the President’s actions. 

Read More

Topics: Libya, OFAC, CFPB, RESPA, NCUA, Mortgage Servicing, Regulation Z

Sullivan 4c

About the Spotlight


The Financial Services Spotlight examines the regulatory and technology developments impacting banks, asset managers and other financial services providers—where challenges meet opportunities.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.

Subscribe to Blog

Recent Posts

Posts by Topic

see all