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Documents on Banking Law
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|Banking On Your Personal Data: Recent Guidance Issued to Banks|
Gabriela Kennedy, Karen H. F. Lee, Sara S. M. Or; Mayer Brown JSM;
February 27, 2015, previously published on december 23, 2014Given the private nature of banking services and as banks serve the vast majority of the public, the banking industry is one of the private sectors in Hong Kong for which the Hong Kong Privacy Commissioner receives most complaints. For the same reasons, data privacy compliance by the banking...
|Revisions to Basel Securitisation Framework—Final Rules|
J. Paul Forrester, Kevin Hawken, Carol A. Hitselberger, Jason H. P. Kravitt, Stuart M. Litwin; Mayer Brown LLP;
February 27, 2015, previously published on December 22, 2014On 11 December 2014, the Basel Committee on Banking Supervision (BCBS) published a final Basel III Document (BCBS d303) on changes to the international model rules for banks’ calculation of credit risk capital requirements for exposures to securitisation transactions (Revised Framework). The...
|AML Developments - FDIC Announces That It Will End Its Supervisory Trend of Expecting Regulated Institutions to 'De-Risk' Entire Categories of Customers|
Carl A. Fornaris, Jennifer H. Weddle; Greenberg Traurig, LLP;
February 27, 2015, previously published on January 30, 2015On Jan. 28, 2015, the Federal Deposit Insurance Corporation (FDIC) in a Financial Institutions Letter (FIL) announced that it would, in effect, do an about-face on its supervisory expectation that banks strongly consider discontinuing the provision of financial services to entire categories of...
|China Further Opens Up to Foreign Banks|
Patrick H. Hu, Peilin Liu; Jones Day;
February 27, 2015, previously published on January 2015Following the recent announcement of several crucial economic reforms by the People's Republic of China ("PRC") leadership, and eight years since the promulgation of China's Administrative Regulations on Foreign-Invested Banks (the "foreign banks regulations"), the PRC State...
|CFPB Observer: Recent Developments from Jan. 26-30, 2015|
Peter L. Cockrell, Brett M. Kitt, Gil Rudolph, J. Scott Sheehan; Greenberg Traurig, LLP;
February 27, 2015, previously published on February 4, 2015On Jan. 29, the CFPB issued a proposed rule that would amend various provisions of its Title XIV mortgage rules relating to small creditors. The purpose of the proposed changes is to “increase the number of financial institutions able to offer certain types of mortgages in rural and...
|Discussing the Two Pillars of America's Main Street Economy - An Interview with Larry F. Mazza, CEO of MVB Bank, Inc.|
Amy King Condaras; Spilman Thomas & Battle, PLLC;
February 27, 2015, previously published on Deceber 18, 2014Larry Mazza is Chief Executive Officer of MVB Financial Corp., the parent of West Virginia-based MVB Bank, Inc. Mr. Mazza also serves on the MVB Financial Corp. Board of Directors. He is a recognized name in West Virginia banking with over 25 years of experience in both large banks and community...
|New York Department of Financial Services Cyber Security Examination|
Rebecca S. Eisner, Lawrence R. Hamilton, Alex C. Lakatos, A. John P. Mancini, James R. Woods; Mayer Brown LLP;
February 26, 2015, previously published on December 11, 2014On December 10, 2014, the New York Department of Financial Services (NYDFS) issued a letter to banking institutions chartered or licensed in New York notifying them of an expansion of the NYDFS information technology examination procedures to focus on cyber security issues as an integral aspect of...
|First Recommended Decision in Contested CFPB Adjudication issued by US Securities and Exchange Commission ALJ|
Catherine A. Bernard, Reginald R. Goeke, Jeffrey H. Redfern; Mayer Brown LLP;
February 26, 2015, previously published on December 16, 2014On November 25, 2014, US Securities and Exchange Commission Administrative Law Judge (ALJ) Cameron Elliot issued the first-ever “recommended decision” in a contested Consumer Financial Protection Bureau (CFPB) adjudication.
|The CFPB Changes the Rules...Again|
Stephen Franks; Weltman, Weinberg & Reis Co., L.P.A.;
February 26, 2015, previously published on November 26, 2014In an effort to level the playing field for consumers, the CFPB released a proposal for expanded foreclosure protections on November 20, 2014. The following are a summary of the topics the CFPB’s proposed rule changes cover:
|New, New York Regulations|
Joseph M. McCandlish; Weltman, Weinberg & Reis Co., L.P.A.;
February 26, 2015, previously published on February 12, 2015The state of New York enacted new debt collection regulations that will require collection agencies operating in New York to provide additional disclosures to New York residents and to change some of the ways in which the collection agency practices in New York. Some of these regulations take...