Mondaq USA: Finance and Banking
Jones Day
Regulation (EC) No 593/2008 of the European Parliament and of the Council of June 17, 2008, on the law applicable to contractual obligations does not cover the question of third-party effects of assignment of claims.
Stroock & Stroock & Lavan LLP
Last week, the Securities Industry and Financial Markets Association ("SIFMA"), a trade group for the United States securities industry, issued a set of Data Aggregation Principles ("the Principles").
Morgan Lewis
Private foundations may now own philanthropic businesses whose profits are dedicated to charity without the prohibitive excess business holdings tax.
Shearman & Sterling LLP
Partners Joshua Thompson (New York-Finance) and Caroline Leeds Ruby (London-Finance) co-authored a chapter in The International Comparative Legal Guide to Lending & Secured Finance, published by Global Legal Group.
Cadwalader, Wickersham & Taft LLP
Mr. Berkovitz was nominated to serve the remainder of a five-year term.
Cadwalader, Wickersham & Taft LLP
Federal Reserve Bank of New York Executive Vice President and General Counsel Michael Held shared his concerns about "excessive formalism" and rigid reliance on the standard risk management model.
Cadwalader, Wickersham & Taft LLP
Mr. Quarles applauded recent efforts by the Basel Committee on Banking Supervision in regard to its international standard setting.
Earlier this month, the CFPB issued its semiannual report to the President and Congress. In the Report, Acting CFPB Director Mick Mulvaney proposes to significantly reform the CFPB's structure and oversight.
Cadwalader, Wickersham & Taft LLP
John E. Smith, Director of the U.S. Treasury Office of Foreign Assets Control ("OFAC"), will leave his position in early May.
Cadwalader, Wickersham & Taft LLP
ISDA provided guidance for firms that are preparing to become subject to regulatory initial margin requirements.
In 2017, consumers initiated nearly 10,000 lawsuits alleging violations of the Fair Debt Collection Practices Act (FDCPA). See WebRecon LLC, Stats for November 2017: Bizarro Stats ...
Proskauer Rose LLP
Proskauer released results from The Private Credit Group's market survey for 2018. The comprehensive survey features the predictions of top lending institutions, which complement the findings...
The nomination is subject to confirmation by the US Senate.
Cadwalader, Wickersham & Taft LLP
In advance of the release of a new framework for swaps reform, CFTC Chair J. Christopher Giancarlo declared that the CFTC would return to its "historic character" as a "principles-based regulator."
Cadwalader, Wickersham & Taft LLP
A mortgage banker agreed to pay a $5 million fine, following restitution payments of $7 million, to settle charges brought by the New York State Department of Financial Services ("DFS").
Cadwalader, Wickersham & Taft LLP
The U.S. House Financial Services Subcommittee on Monetary Policy and Trade considered testimony on the proposed Foreign Investment Risk Review Modernization Act ("FIRRMA").
Ropes & Gray LLP
As reported in a previous alert, the UK Financial Conduct Authority announced on July 27, 2017 that, by 2021, it intends to replace LIBOR, the key benchmark rate underlying hundreds of trillions of dollars in lending ...
Fredrikson & Byron, P.A.
In recent years, accounting and finance professionals have wrestled with the implementation of new GAAP standards in the areas of revenue recognition, leases and credit losses...
Cadwalader, Wickersham & Taft LLP
The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") granted exemptive relief to a commodity pool operator ("CPO") from the requirement to deliver to pool participants...
Morgan Lewis
The Office of Foreign Assets Control recently designated 7 "oligarchs," 17 government officials, 13 companies, and one bank, all Russian, as Specially Designated Nationals (SDNs)...
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On Dec. 5, 2017, the Federal Trade Commission reached a settlement with three defendants who it alleged partook in deceptive, abusive and unfair debt collection practices ...
Arnold & Porter
On March 14, the US Senate passed S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (Economic Growth Act), on a 67-31 vote.
Foley & Lardner
Following Borders & Borders PLC's (Borders) successful summary judgment motion last summer, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a motion for reconsideration...
Troutman Sanders LLP
As we previously reported, Mick Mulvaney, acting interim director of the CFPB, announced a change to the CFPB's governing philosophy to focus on quantitative analysis to guide the Bureau's future regulatory and enforcement actions.
Cadwalader, Wickersham & Taft LLP
An accounting firm agreed to pay nearly $150 million to the U.S. government to settle potential liability related to the audits of a failed mortgage lender.
Cadwalader, Wickersham & Taft LLP
The "FATF Public Statement," which was published on November 3, 2017, identifies jurisdictions that are subject to its call for countermeasures or are subject to enhanced due diligence due to their strategic AML/CFT deficiencies.
Troutman Sanders LLP
The United States Court of Appeals for the Seventh Circuit recently affirmed a lower court decision finding that a debt collector's verification and investigation of a consumer's disputes ...
Mayer Brown
If enacted, the bill would impose material conditions on the eligibility of non-cash-out refinancings for government guaranty under the Veterans Affairs Loan Guaranty Program.
Troutman Sanders LLP
In Taylor, both Plaintiffs incurred debts with a bank, which after default were placed with Financial Recovery Services ("FRS") for collection.
Arnold & Porter
On March 14, the U.S. Senate passed S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, on a 67-31 vote.
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