The National Credit Union Administration (NCUA) Board recently approved a final rule regarding cyber incident notification requirements. The NCUA requires a federally insured credit union (FICU) that experiences a reportable ...
The Board of Governors of the Federal Reserve System (“Board”) adopted final amendments to Regulation A to reflect the Board’s approval of an increase in the rate for primary credit ...
The Board of Governors of the Federal Reserve System (“Board”) issued a policy statement interpreting section 9(13) of the Federal Reserve Act and set out a “rebuttable presumption that it ...
On January 18, 2023, the Financial Crimes Enforcement Network (FinCEN) issued an order prohibiting certain transmittals of funds by any covered financial institution involving Bitzlato Limited (Bitzlato), a convertible virtual ...
The Board of the California Privacy Protection Agency approved the California Privacy Rights Act (CPRA) regulations on Friday. The rulemaking package that was adopted and approved included a redline of ...
The NCUA released its 2023 supervisory priorities and other updates to the agency's examination program. These priorities focus on areas that pose the highest risk to credit union members, the ...
Last week the Consumer Financial Protection Bureau (“CFPB”) issued its Fall 2022 Rulemaking Agenda (“Fall Agenda”). The Fall Agenda is significantly longer than the Spring 2022 Rulemaking Agenda and includes ...
The joint statement addressing crypto-asset risks to banking organizations was issued by the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and ...
The New York Department of Financial Services (“NYDFS”) released guidance for banking organizations that wish to engage in virtual currency-related activities. In 2015, the NYDFS adopted 23 NYCRR Part 200, ...
The Federal Reserve Board adopted a final rule implementing the Adjustable Interest Rate (LIBOR) Act. The U.K. Financial Conduct Authority announced it would phase out LIBOR with a sunset in ...