Following the model of the World Bank and the International Finance Corporation, several state governments and private companies are ramping up their issuance of green bonds to finance low-carbon, environmentally beneficial projects in renewable energy, clean water, sustainability, biodiversity, energy efficiency, land conservation, river revitalization, drinking water, and infrastructure.
In a move that should come as no surprise to anyone who has been following the Consumer Financial Protection Bureau (CFPB), the agency issued a proposed rule last week that would expand its oversight, supervision and enforcement jurisdiction to include nonbank automobile finance companies.
New York Court administrators recently announced new rules impacting cases involving debt collector-plaintiffs with certain debt claims against consumers.
On September 16, the House of Representatives passed H.R. 5405 “Promoting Job Creation and Reducing Small Business Burdens Act.”
On September 11, 2014, the Office of the Comptroller of the Currency (OCC) published final Guidelines setting out heightened risk management standards for large banking organizations under its jurisdiction.
This week, the Government Accountability Office (“GAO”) released a report recommending eleven actions the Consumer Financial Protection Bureau (“CFPB”) should take to enhance the privacy and security of its ongoing data collections.
On September 22, 2014, the Securities & Exchange Commission (SEC) announced that it would pay a Dodd-Frank Act (DFA) whistleblower award of $30 to $35 million to an anonymous foreign tipster.
Sixteen industry trade groups, including the American Bankers Association, the Mortgage Bankers Association, and Financial Services Roundtable, have sent a letter to Director Cordray in which they requested that the CFPB provide additional guidance to help the mortgage industry implement the new TILA-RESPA Integrated Disclosures Rule that will become effective on August 1, 2015.
One of the most interesting recent developments has been the onset of innovative litigation reform efforts in the form of bylaw revisions.
On September 19, Chinese e-commerce giant Alibaba completed the initial public offering of its stock.The underwriters for the offering subsequently exercised their option to buy additional shares, making this the largest IPO in history at $25 billion.