Links in “Dodd-Frank”
- Repeal Regulation AA: What Do You Say?
Regulation AA is under review as the Federal Reserve Board requested comment to repeal the regulation. While this regulation would no longer fall under the Federal Reserve Board, unfair and deceptive practices would still be prohibited under the FTC and Dodd-Frank. [8/25/14]
- Retailers Appear to Accept Fedâs Two Payment Network Rule
The National Federation of Retailers has only addressed the interchange fee limits in its petition to the Supreme Court to overturn the Federal Reserve Boardâs interchange rule. It appears they have accepted the Fedâs positon that debit card issuers must ensure that two unaffiliated payment networks are available to cardholders. Originally, retailers had argued that the Durbin Amendment to the Dodd-Frank Act required card issuers provide more than two options. [8/21/14]
- Frank on Dodd-Frank: Little Sympathy for Banks’ Compliance Woes
Barney Frank, two years after retiring from the House and four years after the legislation bearing his name was enacted, returned to Washington yesterday and said he has little sympathy for financial institutions bemoaning their increased compliance demands. "To the extent that we were responsible for JPMorgan Chase beefing up its compliance staff, I am not embarrassed." [7/24/14]
- Four Years Later: Wall Street Is Finally Looking Out for Main Street
Secretary Lew comments on the four-year anniversary of the Dodd-Frank Wall Street Reform Act. Among the six successes he cites is the creation of the CFPB which is "committed to making financial services and products work better for Americans." [7/22/14]
- Remove a Regulation? Yes, Please!
The FDIC proposes the removal of regulations regarding electronic operations located in the Dodd-Frank Act. [7/21/14]
- Dodd-Frank’s 4-year Tab
Group estimates the costs of the 398 new regulations imposed by the act at $21.8 billion and 60.7 million in paperwork burden hours. [7/16/14]
- More States Attempting to Wield UDAAP Power
Mississippi Attorney General becomes the fourth state AG or regulator attempting to use Dodd-Frank enforcement authority against unfair, deceptive or abusive acts or practices. [6/18/14]
- CFPB Takes the Reins
HUD has published a final rule which removes its regulations previously authorized under the Real Estate Settlement Procedures Act of 1974 (RESPA), the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), and the Interstate Land Sales Full Disclosure Act (ILSFDA). Responsibility for administration of these statutes, including authority to issue regulations, was transferred to the Consumer Financial Protection Bureau (CFPB) pursuant to title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). [6/16/14]
- Where the CFPB Wants to Take HMDA
HMDA currently requires reporting of up to 30 points of data for each covered application. Dodd-Frank identified nine more data points and opened the door to other points that the CFPB felt was appropriate. The CFPB's list is up to 20 more. Here's what the CFPB is proposing. [6/12/14]
- Big Banks Skirting Rules by Shifting Activities to Overseas Affiliates?
Regulators are investigating to see if large banks are attempting to sidestep rules required by Dodd-Frank by shifting trade swaps to overseas. [6/6/14]
