Category: Compliance
The Repeal of the Controversial True Lender Rule
We have written about the “True Lender Rule” many, many, many times. The rule was the US Office of the […]
DOJ Probe of Fintech PPP Lenders Highlights the Need for Compliance Risk Management Enhancements
Recently, Reuters reported that Kabbage Inc. and other fintech firms have been targeted in an investigation led by the civil […]
The Move Toward Federal Data Privacy and Breach Protection Laws
The US still lacks federal legislation comparable to the EU’s General Data Protection Regulation (GDPR), but that may change soon […]
White House Focuses FSOC Regulators on Climate Change Risks in Banking
Recently, the Biden Administration took another step toward incorporating environmental risk analysis into all financial institution oversight. The new executive […]
House Happenings: Update on Financial Services Legislation
The U.S. House of Representatives recently passed seven bills related to banking and financial services. The one that is likely […]
The FDIC’s Proposed Rule Banning Non-Bank Entities & Private Individuals from Misleading Representations About Deposit Insurance
Last month, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking and request for information entitled “False […]
Charter or Partnership? The Possible Future of Neobanks
Digital-only, unchartered banking alternatives are winning younger consumers and posing both a threat to—and an opportunity for—traditional banking institutions Key […]
New PPP Compliance Procedures for 2021
The government delegated approval authority to lenders for the first round of Paycheck Protection Program loans in 2020—reflecting the emergency […]
Recent FinCEN Guidance Highlights Importance of Policies, Procedures, and Processes
Recently, FinCEN issued guidance regarding seven FAQs related to Suspicious Activity Reporting (SAR) filing requirements and “Keep Open” Requests, with […]
New Cybersecurity Rulemaking Proposed for Banking Industry
On January 12, 2021, financial regulators jointly published a new notice of proposed cybersecurity rulemaking for the banking industry. See […]