Dodd-Frank Act

According to Davis Polk’s latest “Dodd-Frank Progress Report,” as of the beginning of May, we have now passed 221 Dodd-Frank rulemaking requirement deadlines. That’s 55.5 percent of the statute’s 398 total rulemaking requirements, and 78

“It is critical,” the Independent Community Bankers of America told bank regulators in an April 23 comment letter, “that the agencies coordinate the development of the annual stress test scenarios on an interagency basis to ensure consistent

The Federal Trade Commission (FTC) is playing a little catch-up with the Dodd-Frank Act. On April 13, the FTC published a Federal Register notice rescinding nine rules for which Dodd-Frank transferred the rulemaking responsibility to the Consumer

The Senate Banking Committee took its first close look at developing a framework for mobile payments during a hearing held on March 29. Committee Chairman Tim Johnson (D-S.D.) said his committee “needs to make sure there are no gaps in the rules

Rep. Barney Frank (D-Mass.) has sworn to protect the derivatives provisions in his namesake statute, the Dodd-Frank Act. He strongly criticized two Republican-backed bills that he said would “create substantial loopholes” in needed derivatives

The debate continues over the Durbin Amendment — the provision in the Dodd-Frank Act that required the Federal Reserve to limit interchange fees related to debit card transaction processing. When Dodd-Frank was enacted, proponents of the amendme

Ten financial services trade groups filed a friend-of-court brief on March 15 in the merchant associations’ lawsuit charging the Federal Reserve with failure to follow key Dodd-Frank Act requirements when it set the cap on debit card fees. The m

Under terms of the Dodd-Frank Act, unlimited deposit insurance coverage for certain noninterest-bearing transaction accounts will end on December 31, 2012. The industry is divided over whether or not to press Congress to extend unlimited coverage

There’s no let-up in sight for banks trying to keep up with implementation of the Dodd-Frank Act, judging from the semiannual regulatory agenda the Consumer Financial Protection Bureau (CFPB) published in the Federal Register on February 13. (Th

The Consumer Financial Protection Bureau CFPB and Federal Trade Commission (FTC) announced January 23 that they have signed a memorandum of understanding (MOU) to coordinate efforts to protect consumers and avoid duplication of federal law enforce

Of all the complicated and controversial provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act, perhaps none can top the Volcker Rule. The financial regulators’ proposal implementing the rule runs to nearly 300 pages and fe

It was bad enough when community banks were hit with the massive Dodd-Frank Wall Street Reform and Consumer Protection Act, even though it was not their activities that brought on the financial crisis. Now community banks face still more trouble i

The Federal Reserve recently announced in Consumer Affairs Letter CA 11-8 that the Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council has updated the Regulation Z interagency examination procedures to refle

Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act as a response to the collapse of several large financial institutions. As Dodd-Frank proceeded through the legislative process, it bloated into a massive hodgepodge of

Four agencies — the Fed, FDIC, OCC and SEC — have extended by one month, to January 13, the comment period on their proposal to enact the Volcker Rule. The rule implements a key provision of the Dodd-Frank Act.

The relevant Dodd-Fran

A few weeks ago, we wrote an article (“Blog Versus Blog: Small Banks in the Dodd-Frank Crossfire”) in which we covered Deputy Treasury Secretary Neal Wolin’s promise to dismantle the myths around Wall Street reform. Myth #1 on Wolin’s list

How’s Dodd-Frank doing? It depends on whom you ask, judging from the Senate Banking Committee’s December 6 oversight hearing on the controversial legislation. Democrats support the bill, while Republicans take a much dimmer view. Members of bo

Congress didn’t intend the Dodd-Frank Act to hasten the demise of community banking but, judging from recent Congressional testimony by some bankers, that may be exactly what the mammoth banking bill is doing. Community bankers warned legislator

On November 29, the Office of the Comptroller of the Currency (OCC) proposed a rule to remove references to credit ratings from various OCC regulations. The OCC also proposed related guidance to assist national banks and federal savings associatio

The Consumer Financial Protection Bureau is requesting suggestions for streamlining regulations it recently inherited from other federal agencies.

In the coming weeks, the CFPB plans to republish the regulations it inherited under the Dodd