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Results 1 - 10 of 68 |
Posted Date: Monday, April 4, 2022
FINRA has issued a regulatory notice to remind member firms about the scope of broker-dealer chief compliance officer (CCO) supervisory liability under FINRA rules.
Read on for more details. Read on »
Posted Date: Tuesday, February 18, 2020
A group of financial services trade associations recently wrote federal regulators to comment on potential changes to the qualified residential mortgage (QRM) status.
The Dodd-Frank Act created QRM loans, which were intended to have standards for credit risk retention which originators must meet to have a loan earn QRM status and the safe harbor protections which go along with it.
Read on for details of the associations’ request to federal regulators. Read on »
Posted Date: Friday, January 3, 2020
The financial industry has been afforded the first month of 2020 to weigh in on a mandatory review of the risk retention mortgage (QRM) final rule, finalized in 2014 in accordance with the Dodd-Frank Act.
Stakeholders also are encouraged to suggest potential changes to the Consumer Financial Protection Bureau’s Qualified Mortgages definition, which is aligned with the QRM standard.
Learn more details about what the review will entail. Read on »
Posted Date: Friday, October 11, 2019
The Federal Reserve recently finalized rules establishing a tailored framework for regulations applying to domestic and foreign banks.
The rules are designed to more closely match institutions’ risk profiles, reducing compliance requirements for firms with less risk while maintaining the most stringent requirements for the largest and most complex institutions.
Get more details about the implications of the newly finalized rules. Read on »
Posted Date: Tuesday, July 30, 2019
The National Credit Union Administration (NCUA) has been in the middle of several clashes between credit unions and community banks over the years centering on proposals intended to ease regulatory burdens faced by entities under its purview.
In response to its recent proposal to delay implementation of its 2015 and 2018 risk-based capital (RBC) rules by one year (to Jan. 1, 2022), advocates for both segments of the financial sector wrote to the agency urging it to take different actions going forward.
Learn more about arguments on both sides. Read on »
Posted Date: Monday, January 22, 2018
Numerous financial trade organizations are hailing the Federal Housing Finance Agency’s (FHFA) recent proposal for reforming the housing finance system as further evidence of what they long have contended: the secondary mortgage market should incorporate private capital.
The FHFA recently published a report entitled, “Federal Housing Finance Agency Perspectives on Housing Finance Reform,” proposing that Fannie Mae and Freddie Mac should be reincorporated as private entities. FHFA Director Mel Watt also wrote to the Senate Banking Committee, detailing his views on the matter.
Find out which recommendations the agency outlined closely align with proposals published by the financial industry. Read on »
Posted Date: Tuesday, May 16, 2017
Having long contended that conservatorship for the government-sponsored enterprises (GSEs) is unsustainable, Federal Housing Finance Agency Director Mel Watt recently testified to the Senate Banking Committee about actions he feels need to take place to work toward reforming the housing finance market. Read on to find out what he and members of the committee had to say about the issues facing the agency and Congress regarding the matter. Read on »
Posted Date: Friday, June 10, 2016
The Federal Financial Institutions Examination Council (FFIEC) has advised financial institutions to actively manage the risks associated with interbank messaging and wholesale payment networks, emphasizing that institutions should review risk-management practices and controls related to information technology systems and wholesale payment networks. Read on to learn more. Read on »
Posted Date: Friday, May 13, 2016
The Office of the Comptroller of the Currency’s Committee on Bank Supervision has released a mid-cycle status report on its operating plan, which sets forth the agency’s broad supervision priorities and objectives. Supervision’s focus will center on compliance, operational resiliency, credit risk management, stress testing, strategic planning and execution, corporate governance and interest rate risk. Read on to learn more. Read on »
Posted Date: Friday, April 15, 2016
The Federal Deposit Insurance Corp. and the Federal Reserve Board have determined that the 2015 resolution plans from Bank of America, Bank of New York Mellon, JP Morgan Chase, State Street and Wells Fargo were not credible. The regulators also reviewed the plans from Goldman Sachs, Morgan Stanley and Citigroup. Read on to learn more. Read on »
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