Sunday, August 31, 2014

BNA INSIGHTS: Review of 2011 Bank Enforcement Actions and Trends

June 13, 2012 in Banking Report · Leave a Comment 

In 2011, the federal banking agencies issued over 1200 formal enforcement actions, the second-highest total in their history…

Bernanke Eyes Delay on Volcker Rule, Says Dodd-Frank Act Provides More Time

March 12, 2012 in Banking Report · Leave a Comment 

The Federal Reserve Board likely will not meet a July deadline to finalize rules that limit proprietary trading, but a two-year transition period should give banks enough time to comply with the new standards, Fed Chairman Ben S. Bernanke said in testimony before Congress.

The Dodd-Frank Wall Street Reform and Consumer Protection Act calls for rules by July to implement the Volcker rule restrictions, but that looks doubtful, Bernanke said in Feb. 29 testimony before the House Financial Services Committee.

MF Global Bankruptcy May Illustrate Need For Volcker Rule Reform, Practitioners Say

November 8, 2011 in BNA's Banking Report · Leave a Comment 

Supporters of a landmark financial regulatory law currently being implemented may point to the Oct. 31 bankruptcy filing of MF Global Holdings Ltd. as evidence of the need for statutory and regulatory changes that are included in the legislation, sources told BNA…

SEC, Banking Regulators Propose Rule To Ban Proprietary Trading By Banks

October 21, 2011 in BNA's Banking Report · Leave a Comment 

Federal banking regulators Oct. 11 issued a controversial and long-awaited proposalto bar, with certain exemptions, banking entities from engaging in proprietary trading, and to limit their investment and sponsorship of hedge and private equity funds…

FDIC Must Face $10 Billion Lawsuit by Deutsche Bank Over Washington Mutual Loans

September 9, 2011 in BNA's Banking Report · Leave a Comment 

The Federal Deposit Insurance Corporation will have to defend a $10 billion suit over mortgage-backed securities originated by the now-failed Washington Mutual Bank, the U.S. District Court for the District of Columbia said (Deutsche Bank National Trust Co. v. Federal Deposit Insurance Corporation)…

Non-U.S. Financial Firms May Be Subject to Dodd-Frank Swaps Provisions, Lawyers Say

July 15, 2011 in BNA's Banking Report · Leave a Comment 

Non-U.S. financial institutions are concerned that pending derivatives regulation may chill their interest in market participation, at least until the way the law is going to be enforced is clarified…

Bank of America Agrees to Pay $8.5 Billion to Settle Mortgage-Backed Securities Claims by Investor Groups

July 6, 2011 in Banking Report · Leave a Comment 

RALEIGH, N.C.—Charlotte, N.C.-based Bank of America has agreed to pay $8.5 billion to settle with investors over residential mortgage-backed securities they bought from Countrywide Financial, Bank of America announced June 29…

BNA INSIGHTS: Review of 2010 Bank Enforcement Actions: A Hardened Government Attitude

May 10, 2011 in Banking Report · Leave a Comment 

The number of formal enforcement actions issued by the federal banking agencies exploded again in 2010, following a record setting year in 2009 in which the federal banking agencies issued more than 1000 formal enforcement actions for the first time…

‘Volcker Rule’ Study Says New Metrics, Compliance Regimes Needed for Bank Proprietary Trading Ban

January 20, 2011 in Banking Report · Leave a Comment 

The Financial Stability Oversight Council (FSOC) Jan. 18 approved a study on the “Volcker rule” that calls for new types of quantitative metrics to determine banned proprietary trading activities and for regulated banks to develop internal compliance regimes in which top corporate officers could be held…

Foreign Banks Tell Regulators Oversight of Swaps Entities Should Remain at Home

Seven overseas banking organizations joined together Jan. 11 to tell federal financial regulators that the best way to regulate the swaps activities of such entities is to allow them to operate their…

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