Practical Guidance offers a Mortgage Servicing Fees topic in the FSR State Law Comparison Tool. This Q&A series offers comprehensive guidance on permissible mortgage servicing fees for institutions across all 50 U.S. states​. Practitioners can utilize this...
Climate change poses a financial risk to financial institutions. The White House administration and various federal regulators are evaluating and proposing legislation for financial institutions to identify and manage climate-related financial risk. Keep abreast...
The European Council recently adopted new anti-money-laundering (AML) rules. The rules are intended to strengthen and harmonize the European Union’s (EU) AML framework by including the crypto sector and establishing an authority for the supervision and identification...
The U.S. Treasury Department is seeking information on the uses, opportunities, and risks of continued artificial intelligence (AI) development in the financial services sector. The use of AI in financial services is quickly evolving. This article provides a summary...
The U.S. Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule on paycheck advance products. The rule suggests that paycheck advance products are consumer loans and, by definition, are subject to the Truth in Lending Act. Review this MLex...
LexisNexis® Practical Guidance offers this highly regarded Lexology Panoramic international guide for practitioners. Review questions and answers from leading law firms on topics ranging from regulatory authority and statutory requirements to potential sanctions...
Following the Supreme Court’s decision in Loper Bright Enters. v. Raimondo , 2024 U.S. LEXIS 2882 (2024) , which effectively overturned Chevron, U.S.A., Inc. v. NRDC, Inc. , 467 U.S. 837 (1984) , financial regulators stand poised to defend a range of rules...
The Bank Service Company Act (BSCA), enacted in response to the technological and expertise challenges faced by banks during the 1960s, permits banks to acquire and utilize bank service companies. The BSCA also authorizes U.S. banking agencies to examine and regulate...
The Federal Deposit Insurance Corporation (FDIC) issued new rules which expand resolution-planning requirements to strengthen regulatory oversight of large banking organizations. The requirements apply to any insured depository institution with $100 billion or...
LexisNexis® offers the highly regarded Lexology Panoramic international guides for practitioners. Review questions and answers from leading law firms on topics ranging from frequent causes of action brought against banks and other financial services providers...
The European Council recently adopted new anti-money-laundering rules. The rules create a new EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CTF), with direct and indirect supervisory authority over high-risk obliged entities...
Financial Crimes Enforcement Network (FinCEN) issued an advisory to banks raising concerns about potential money laundering and terrorist financing activities associated with the Islamic Republic of Iran-backed terrorist organizations. The advisory is intended...
Crypto-related activity continues to be a focal point in legislative efforts at both the federal and state levels. State agencies, exemplified by New York financial regulators, are leading the charge by clearly articulating their expectations for the use of virtual...
Recent interagency guidance provides a framework for the risk management of climate-related financial risks for large financial institutions with over $100 billion in total consolidated assets. Practical Guidance developed this checklist to aid institutions and...
Republic Bank's failure in 2024 followed closely on the heels of the bank failures of Silicon Valley and First Republic Bank in 2023. Recent legislation (proposed and final) seek to address risks related to elevated interest rates, management, credit, and liquidity...