The SEC has released a series of frequently asked questions on its 2014 reforms of money market mutual funds. The FAQs represent staff views on the new rules and address a number of issues including which investors would be eligible to invest in retail prime money market funds starting in October 2016 when the reforms take effect.
According to Accenture’s recently released 2015 Global Risk Management Study, nearly 9 in 10 financial services firms plan to increase their investment in risk-management capabilities in the next two years in response to emerging risks of cyber security and fraud.
The deadline for MasterCard-issuing banks to determine whether they will accept the network’s $19 million settlement with Target related to losses from Target’s 2013 data breach is Wednesday, May 20.
ABA and other trade groups sent a letter to the committee on Friday thanking Senate Banking Committee Chairman Richard Shelby (R-Ala.) for drafting his regulatory relief proposal, describing it as an “important step toward addressing the statutory and regulatory obstacles that stymie banks and credit unions from more fully serving the diverse financial needs of American consumers.”
The Department of Education today published a proposed rule that would limit the kinds of arrangements colleges can make with banks that disburse funds to students from federally guaranteed student loans.
The Department of Labor on Friday said it would extend the comment period for its rule redefining who counts as a fiduciary under the Employee Retirement Income Security Act.
The OCC today published a final rule to integrate the agency’s licensing rules for national banks and federal savings associations.
ABA last week filed its second comment letter in response to the decennial EGRPRA regulatory burden review that the federal banking agencies must conduct.
The Federal Housing Finance Agency on Friday issued an update on the development of the Single Security, a mortgage-backed security to be issued by both Fannie Mae and Freddie Mac via a common securitization platform.
ABA will hold a free webinar on preparing for the rollout of the .bank domain on Tuesday, May 26, from 1-2 p.m. EDT.