New perspective on climate-related financial risk
Statements and research from the Fed may undermine the case for the SEC’s approach to climate risk disclosures.
Browsing: Reporting
GOP lawmakers raise concerns about beneficial ownership rule implementation
A group of four Republican lawmakers wrote to Treasury Secretary Janet Yellen and Financial Crimes Enforcement Network Director Him Das to raise concerns about FinCEN’s plans to educate stakeholders, including 32.6 million U.S. small businesses that may become reporting companies pursuant to new beneficial ownership rules, about their future filing obligations, and possible penalties for non-compliance when the rules take effect Jan. 1, 2024.
Podcast: A deep dive into the Section 1071 final rule
The CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act represents major change to how banks process and handle small business loans, taking what in many banks is a bespoke, tailored financial product and requiring a whole new way of doing business.
Marketing and compliance: Creating a plan to ensure consistency
New approaches, systems and processes ensure balance between compliance risk management and marketing performance.
CFPB issues long-awaited Section 1071 final rule
The CFPB released a long-awaited final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses, including women-owned and minority-owned small businesses.
FinCEN seeks feedback on proposed beneficial ownership reporting process
The reports will be filed electronically through an online interface and must contain specific types of information outlined by FinCEN.
FinCEN proposes rule on access to beneficial ownership info
The proposed regs would govern how BOI information is protected and disclosed to federal agencies, governments and financial institutions.
New incident response regulation clarifies, but the key is materiality
‘One of the hardest parts of this rule is trying to understand where the balance is.’
Filing Exchange Act reports without a holding company
As some banks weigh ditching their holding companies, there are a few considerations for how and why publicly traded banks can file Exchange Act reports directly with their regulatory agencies.
Court overturns HMDA reporting threshold for small entities
A federal judge recently moved to vacate CFPB regulations that expanded the number of small-volume lenders deemed exempt from Home Mortgage Disclosure Act reporting requirements. I