Search Results for keywords:"Dodd-Frank Act"

The Securities and Exchange Commission (SEC) is giving notice of a public meeting of its Investor Advisory Committee, which will be held on March 11, 2021. This committee was created under the Dodd-Frank Act to advise on regulatory priorities and issues affecting investors. During the meeting, the committee will discuss a variety of topics including individual retirement accounts, special purpose acquisition companies, and minority inclusion in financial markets. The public can submit written comments ahead of the meeting and can view the proceedings online.

The Department of Housing and Urban Development (HUD) has announced an adjustment to the Basic Statutory Mortgage Limits for its Multifamily Housing Programs. This change, effective January 1, 2025, reflects a 3.4% increase based on the Consumer Price Index for All Urban Consumers. The adjusted mortgage limits apply to FHA multifamily mortgage insurance applications submitted on or after this date. This adjustment does not require environmental review as it does not affect the physical state of project areas.

The Federal Deposit Insurance Corporation (FDIC) has finalized a rule to remove certain regulations that were transferred from the Office of Thrift Supervision (OTS) to the FDIC in 2011 under the Dodd-Frank Act. These regulations mainly dealt with the supervision of State savings associations. The final rule, effective March 5, 2021, aims to simplify regulations by rescinding unnecessary ones and making technical changes so that State savings associations follow similar filing requirements as other FDIC-supervised institutions. The FDIC expects these changes to have minimal impact on the affected institutions.

The Securities and Exchange Commission (SEC) is seeking public comments on the renewal of information collection forms related to its whistleblower program, as per the Paperwork Reduction Act. The program, established under the Dodd-Frank Act, compensates whistleblowers who aid in enforcing securities law violations. Two forms are involved: Form TCR, which is used to report violations, taking about 1.5 hours to complete, and Form WB-APP, used to claim awards, requiring approximately 2 hours to fill out. Over the past years, the SEC has reported receiving an average of 560 TCR submissions and 215 WB-APP submissions annually, resulting in an estimated yearly reporting burden of 1,270 hours. Public feedback is encouraged within 30 days of this notice.

The Federal Deposit Insurance Corporation (FDIC) is proposing changes to its regulations concerning securities offerings by State savings associations and State nonmember banks. The FDIC plans to streamline regulations by removing outdated rules transferred from the Office of Thrift Supervision and creating a new unified regulation for securities disclosures. This new rule aims to simplify and align requirements with current securities laws, ensuring both State savings associations and State nonmember banks are subject to the same rules. The proposed rule also includes technical amendments and invites public comments on these changes until April 5, 2021.

The Commodity Futures Trading Commission (CFTC) is seeking public comments on the proposed renewal of information collection related to Swap Execution Facilities (SEFs). This collection is part of the regulatory requirements set by the Dodd-Frank Act to ensure SEFs comply with specific standards. The CFTC aims to revise its current estimates on the number of registered SEFs and invites feedback on various aspects of the information collection process, including its necessity and potential improvements. Comments can be submitted through various methods by March 22, 2021.

The Office of the Comptroller of the Currency (OCC) is inviting public and federal agency comments on a proposed revision to an information collection requirement under the Paperwork Reduction Act. This involves updating reporting requirements for national banks and federal savings associations, particularly those with assets of $250 billion or more, to align with stress test templates used by the Federal Reserve. The goal is to minimize the burden on these institutions while ensuring effective stress testing practices. Comments on the proposal are requested by March 29, 2021, and the OCC encourages electronic submissions.

The Federal Deposit Insurance Corporation (FDIC) has proposed a new rule to simplify its regulations by removing outdated and unnecessary ones. This proposed rule focuses on eliminating certain definitions transferred from the Office of Thrift Supervision (OTS) that are no longer applicable because related regulations are being removed. The change would primarily affect a small number of state savings associations supervised by the FDIC and is not expected to have a significant impact on these institutions or the larger economy. The FDIC invites public comments on the proposed rule and its potential effects.

The Consumer Financial Protection Bureau (CFPB) has finalized changes to the regulation known as Regulation Z, which enforces the Truth in Lending Act (TILA). These updates adjust the dollar amounts tied to several loan thresholds, including those for high-cost mortgages, qualified mortgages, and credit card interest disclosures. The adjustments are based on the 3.4% increase in the Consumer Price Index (CPI) from April 2023 to April 2024 and will take effect on January 1, 2025. The changes ensure that the thresholds reflect current economic conditions, making it easier for consumers to understand loan costs and requirements.

The Commodity Futures Trading Commission has issued a notice for an Information Collection Request (ICR) under the Paperwork Reduction Act of 1995, seeking public comments by January 15, 2025. This request involves extending an existing data collection related to swap data access provisions, required by the Dodd-Frank Act. The collection impacts four respondents, with an average annual burden of 19,679.5 hours each, totaling 78,718 hours overall. The ongoing costs per respondent are estimated to be around $2 million, with no initial start-up costs.