By a 3-2 vote, the Securities and Exchange Commission today approved a final rule requiring public companies to disclose the ratio of the annual compensation of the CEO to the median of the annual compensation of the company’s employees.
Sen. Cory Booker (D-N.J.) led a group of several Senate Democrats on Friday in asking Consumer Financial Protection Bureau Director Richard Cordray to accelerate a Dodd-Frank Act rulemaking that would require lenders to report small business loan data similar to mortgage loans under the Home Mortgage Disclosure Act.
Following advocacy by ABA, state associations, bankers and other financial trade groups, a controversial revenue-raising provision in trade preferences bill H.R. 1295 was removed.
The Justice Department announced last week that four banks — Société Générale Private Banking (Lugano-Svizzera), MediBank AG, LBBW (Schweiz) AG, and Scobag Privatbank AG — have reached resolutions under the department’s Swiss Bank Program.
ABA yesterday said that the Consumer Financial Protection Bureau’s expansive authority to gather information under Section 1022 of the Dodd-Frank Act must be changed.
ABA and several financial trade groups wrote to Congress yesterday opposing a revenue-raising provision in H.R. 1295, a trade preferences bill.
ABA today welcomed the Federal Reserve’s proposal to require banking organizations to include their current 20-digit legal entity identifiers on several regulatory forms¬—namely, FR Y-6, FR Y-7 and FR Y-10.
In remarks at the 2015 Bank Secrecy Act Conference in Las Vegas, Nevada on June 18, the Financial Crimes Enforcement Network’s (FinCEN) associate director of enforcement, Stephanie Brooker, focused on three main points: the importance of Bank Secrecy Act (BSA) and Suspicious Activity Report (SAR) filings; FinCEN’s enforcement approach; and promoting a strong culture of compliance in the financial industry.
Testifying before the House Financial Services Committee today, federal banking regulators said they intend to propose “burden-reducing” changes to the Call Report.
The Federal Reserve recently proposed changes to Form FR 2420, a daily report of money market transactions — including federal funds purchased, certain time deposits and Euro dollar liabilities — that will used by the Fed to calculate the federal funds rate.