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K & L Gates LLP
GIPS Guidance Statement on Alternative Investment Strategies and Structures

By Michael S. Caccese, Douglas Y. Charton, and Michael J. Rohr Excerpt: On May 18, 2012, the CFA Institute's GIPS Executive Committee, governing body for the Global Investment Performance Standards ("GIPS" or "GIPS Standards"...

Dykema
CFPB Issues New National Mortgage Servicing Rules

by Donald C. Lampe , Jeffrey E. Jamison , and Michael B. Raines On Dec. 17, the Consumer Financial Protection Bureau (CFPB) issued the expected mortgage servicing final rules. At over 1,000 pages, the final rules will amend the Truth in Lending...

Morrison and Foerster LLP
Morrison & Foster Client Alert: FINRA Provides Early Guidance About Its Exam Priorities; Firms Should Take Notice

By Jay G. Baris, Hillel T. Cohn, Kelley A. Howes, and Daniel A. Nathan In its annual summary of regulatory and examination priorities, the Financial Industry Regulatory Authority (FINRA) signaled that it will aggressively pursue market misconduct...

Dykema
CFPB Ability-to-Repy Rule Announcement: Nobody is Completely Satisfied with the Rule

by Ashley Hutto-Schultz and Jeffrey E. Jamison During yesterday's field hearing in Baltimore, the CFPB announced its final Ability-to-Repay (ATR) rule and hosted a panel discussion to discuss the new rule, which had not been released at the...

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Timothy Raub
Bank of America to Pay $3.6B to Settle Residential Mortgage Loan Issues

CHARLOTTE, N.C. - (Mealey's) Bank of America Corp. will pay $3.6 billion to Fannie Mae and repurchase $6.75 billion in certain residential mortgage loans sold to Fannie Mae to resolve certain issues "relating to the origination, sale and delivery...