Friday, November 28, 2014

Consumer Financial Protection Bureau’s First Enforcement Action Penalizes Capital One for Deceptive Marketing

July 26, 2012 in Banking Report · Leave a Comment 

Capital One Financial Corporation will pay $60 million in penalties to financial regulators and set aside $150 million to provide refunds to credit card customers who were subjected to allegedly deceptive telephone marketing…

Federal Energy Regulatory Commission Proposal Would Provide More Flexibility for Non-Utility Transmission Developers

The FERC July 19 called for public comment on a proposed policy statement intended to provide more flexibility for non-utility developers of transmission projects to negotiate with potential customers…

BNA INSIGHTS: ‘Discovering’ Trade Secrets: The Devil Is in the Details

Trade secrets are becoming a more fundamental part of intellectual property portfolios as intangible or knowledge-based assets are increasingly used to build and maintain a marketplace advantage…

BNA INSIGHTS: California Enacts First-of-Kind Foreclosure Bill, Codifying National Settlement

July 26, 2012 in BNA's Banking Report · Leave a Comment 

As California goes, so goes the nation? Let’s hope not, at least as to legislation that will make California the first state in the nation to codify provisions of the National Mortgage Settlement…

ANALYSIS: The Evolution of Credit Default Swaps and Efforts to Regulate Them: What Will Be the Impact of JP Morgan Chase’s Recent $2 Billion Trading Loss?

“Every swap transaction is unique, like a snowflake, and you can’t make snowflakes with a cookie cutter like the Commodity Exchange Act […] While many believe that the CFTC’s actions may cause a financial crisis, no one believes that CFTC action is needed to solve one.” A representative of J.P. Morgan Securities, Inc. made this statement in 1998 when Congress assessed the CFTC’s first efforts to regulate the over-the-counter (OTC) derivatives markets. 1 Derivatives, including credit default swaps (CDS)—the instrument that caused JPMorgan Chase’s recent $2 billion (and mounting 2 ) trading loss—remained unfamiliar to the general public and unregulated for the decade that followed.

Consumer Financial Protection Bureau Adopts Final Rule to Protect Privileged Bank Information

July 9, 2012 in Banking Report · Leave a Comment 

The Consumer Financial Protection Bureau (CFPB) has moved ahead with a final rule on the protection of privileged information submitted by banks and other financial institutions during the supervisory process, despite industry concerns about its effectiveness.

SEC Loses First-of-its-Kind Bid to Gain Securities Investor Protection Act Coverage for Stanford Investors

The U.S. District Court for the District of Columbia July 3 denied the Securities and Exchange Commission’s first-of-its-kind application to force Securities Investor Protection Corporation protection for victims of R. Allen Stanford’s $7 billion Ponzi scheme (SEC v. Securities Investor Protection Corporation, D. D.C., No. 11-mc-678 (RLW), 7/3/12).

BNA INSIGHTS: Re-Thinking and Rejecting Social Media “Password Protection” Legislation

The story went viral, and legislators around the country caught the virus. On March 21, the Associated Press reported a few incidents where employers had requested or required login credentials from applicants or employees to access their personal social media accounts. Over the next three weeks, more stories were published; some regurgitating the incidents originally reported by the AP, and others reporting on additional, alleged inquiries.

New York Sets Stricter Limits on Power Plants’ Carbon Emissions Than EPA Proposes

ALBANY, N.Y.—Electric power plants in New York state will face stricter limits on carbon dioxide emissions from new and expanded generating facilities under a regulation (6 NYCRR Part 251) announced June 28 by the state Department of Environmental Conservation (DEC).

EPA Greenhouse Gas Regulations Upheld in Entirety by Federal Appeals Court Decision

WASHINGTON, D.C.—A federal appeals court June 26 dismissed all challenges to the Environmental Protection Agency’s greenhouse gas regulations in an unsigned opinion that reaffirmed the rules in their entirety (Coalition for Responsible Regulation v. EPA, D.C. Cir., No. 09-1322, 6/26/12).

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