The Dodd-Frank Act aims to create a more stable financial system through increased regulations and consumer protections. It establishes new regulatory agencies, restrictions on large banks, and hundreds of new rules. The act aims to end taxpayer bailouts of financial institutions, increase transparency, and protect investors. One key change was removing Regulation Q which prohibited paying interest on business checking accounts, potentially impacting banks' revenues and customers' cash management strategies.
The document discusses the Dodd-Frank Act, a 2010 law aimed at regulating the financial industry following the 2008 recession. It established the Consumer Financial Protection Bureau to protect consumers from predatory lending. Dodd-Frank also addressed "too big to fail" institutions by allowing close oversight of large banks and requiring "living will" plans in case of failure. However, critics argue Dodd-Frank creates moral hazard by protecting large banks and places undue burdens on small lenders, restricting credit availability. The full impacts of Dodd-Frank remain uncertain as many rules have yet to be finalized.
May 13, 2015 Webinar
Presented by EDR & EBA
“The Dodd-Frank Act” is all over the news. It’s reportedly killing community banks, and will impact all of the banking members in this distribution in some capacity. In continuation of a February Environmental Bankers Association - Risk Management Call (EBA-RMC) John Rybak and Greg Lampe of BB&T Bank, and attorney Brad Merrill of Snell-Wilmer, will provide an explanation of what’s going on, notably with respect to Banking Vendor Management (“vetting the vendors”).
Since its passage in 2010, implementation and interpretation of the 2,323 page long Dodd-Frank Act has touched most every part of banking including how banks use vendors, particularly in the area of mortgages and consumer compliance. Five years later there remains substantial uncertainty as new rule making continues. During our call we will provide a summary of key regulatory areas every banker should be aware of in vendor management as well as some of the general results of Dodd-Frank and exposure for non-compliance.
WG Consulting held an early morning breakfast seminar at the Houston Junior League to discuss the Dodd-Frank Compliance landscape as it currently stands as is expected to shape out--and how that effects energy businesses of all sizes today.
Six Principles for True Systemic Risk Reformcoryhelene
Ten years after the capstone of financial industry deregulation--the Financial Modernization, or Gramm-Leach-Bliley, Act--the United States is facing the worst economic crisis since the Great Depression. The following policy brief outlines six key principles for comprehensive and meaningful systemic risk reform, which are neccessary to undo many of the ill-advised deregulatory measures of the past 20 years, including the four key changes wrought by the Gramm-Leach-Bliley Act.
Overview of Dodd Frank Recovery and Resolution PlanningLewis Adams
This document provides an overview of Dodd-Frank recovery and resolution planning requirements. It discusses that Dodd-Frank requires systemically important financial institutions to create recovery plans to recover from distress and resolution plans for an orderly liquidation if needed. The document outlines key elements of recovery plans like quantitative triggers, stress scenarios, and governance. It also discusses the two approaches to resolution plans - single point of entry and multiple point of entry - and components of operational resolution plans.
This presentation serves as study notes for the e-learning material titled: "South African Hedge funds and international developments"
These notes focus on Dodd Frank and its Impact on the Hedge Fund Industry.
http://www.hedgefund-sa.co.za/dodd-frank
The document discusses the Consumer Financial Protection Bureau (CFPB), a new agency established to protect consumers in the financial sector. It will have broad authority over banks, lenders, debt collectors, and other financial companies. This includes examination and supervision of covered entities, enforcement powers, and the ability to define unfair, deceptive or abusive acts. The CFPB will assume its authorities on July 21, 2011 and be funded by financial penalties. It aims to fill regulatory gaps and curb predatory practices that existing agencies failed to address.
The Dodd-Frank Act aims to create a more stable financial system through increased regulations and consumer protections. It establishes new regulatory agencies, restrictions on large banks, and hundreds of new rules. The act aims to end taxpayer bailouts of financial institutions, increase transparency, and protect investors. One key change was removing Regulation Q which prohibited paying interest on business checking accounts, potentially impacting banks' revenues and customers' cash management strategies.
The document discusses the Dodd-Frank Act, a 2010 law aimed at regulating the financial industry following the 2008 recession. It established the Consumer Financial Protection Bureau to protect consumers from predatory lending. Dodd-Frank also addressed "too big to fail" institutions by allowing close oversight of large banks and requiring "living will" plans in case of failure. However, critics argue Dodd-Frank creates moral hazard by protecting large banks and places undue burdens on small lenders, restricting credit availability. The full impacts of Dodd-Frank remain uncertain as many rules have yet to be finalized.
May 13, 2015 Webinar
Presented by EDR & EBA
“The Dodd-Frank Act” is all over the news. It’s reportedly killing community banks, and will impact all of the banking members in this distribution in some capacity. In continuation of a February Environmental Bankers Association - Risk Management Call (EBA-RMC) John Rybak and Greg Lampe of BB&T Bank, and attorney Brad Merrill of Snell-Wilmer, will provide an explanation of what’s going on, notably with respect to Banking Vendor Management (“vetting the vendors”).
Since its passage in 2010, implementation and interpretation of the 2,323 page long Dodd-Frank Act has touched most every part of banking including how banks use vendors, particularly in the area of mortgages and consumer compliance. Five years later there remains substantial uncertainty as new rule making continues. During our call we will provide a summary of key regulatory areas every banker should be aware of in vendor management as well as some of the general results of Dodd-Frank and exposure for non-compliance.
WG Consulting held an early morning breakfast seminar at the Houston Junior League to discuss the Dodd-Frank Compliance landscape as it currently stands as is expected to shape out--and how that effects energy businesses of all sizes today.
Six Principles for True Systemic Risk Reformcoryhelene
Ten years after the capstone of financial industry deregulation--the Financial Modernization, or Gramm-Leach-Bliley, Act--the United States is facing the worst economic crisis since the Great Depression. The following policy brief outlines six key principles for comprehensive and meaningful systemic risk reform, which are neccessary to undo many of the ill-advised deregulatory measures of the past 20 years, including the four key changes wrought by the Gramm-Leach-Bliley Act.
Overview of Dodd Frank Recovery and Resolution PlanningLewis Adams
This document provides an overview of Dodd-Frank recovery and resolution planning requirements. It discusses that Dodd-Frank requires systemically important financial institutions to create recovery plans to recover from distress and resolution plans for an orderly liquidation if needed. The document outlines key elements of recovery plans like quantitative triggers, stress scenarios, and governance. It also discusses the two approaches to resolution plans - single point of entry and multiple point of entry - and components of operational resolution plans.
This presentation serves as study notes for the e-learning material titled: "South African Hedge funds and international developments"
These notes focus on Dodd Frank and its Impact on the Hedge Fund Industry.
http://www.hedgefund-sa.co.za/dodd-frank
The document discusses the Consumer Financial Protection Bureau (CFPB), a new agency established to protect consumers in the financial sector. It will have broad authority over banks, lenders, debt collectors, and other financial companies. This includes examination and supervision of covered entities, enforcement powers, and the ability to define unfair, deceptive or abusive acts. The CFPB will assume its authorities on July 21, 2011 and be funded by financial penalties. It aims to fill regulatory gaps and curb predatory practices that existing agencies failed to address.
WG Consulting & ZE PowerGroup Lunch and Learn: Presenting a Dodd-Frank Softwa...WG Consulting
During a Lunch and Learn held with one of our esteemed Partners, ZE PowerGroup, our panel of experts discussed the challenges corporations find with Dodd-Frank and presented the software that WG Consulting and ZE PowerGroup built as an answer to those challenges.
1. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Wall Street Reform Act) was signed into law in 2010 to comprehensively regulate the financial sector in response to the 2007-2010 financial crisis.
2. Key provisions of the Act include granting the SEC authority to establish a fiduciary standard for broker-dealers, modifying the definition of "accredited investor," permitting the SEC to restrict mandatory arbitration agreements, and bringing hedge funds and private equity funds over $150 million in assets under SEC regulation.
3. The Act also creates new regulatory bodies, studies various financial industry topics, and changes regulations regarding issues like investment advisor disclosures, insurance, and performance-based fees.
The Retirement Landscape: Technical and Legal UpdateBPAS
The DoL’s proposed fiduciary regulation is the most controversial ERISA initiative since the enactment of the statute in 1974. If adopted as proposed, the regulation will have significant impact on financial institutions selling products to IRAs and 401(k) plans. The proposed changes would essentially open up the $7 trillion IRA market to ERISA, impacting the sale of investment products, from mutual funds to variable annuities, to IRAs. The proposal would also change the definition of an “advice fiduciary,” making it easier for the DoL to assert claims against persons or entities selling investment products or gathering assets.
In this session, we’ll discuss the impact of the DoL proposal for your business, from the stand-point of what needs to be changed to make the proposal “workable” and what you’ll need to do to comply if the proposal is adopted without change. Specifically, this session will focus on:
Changes to the definition of Investment Advice Fiduciary
Fiduciary status “carve-outs” for sales presentations
The new Best Interest Contract Exemption for IRAs
Changes to PTE 84-24 and other Exemptions
Guest Speaker: Steve Saxon, Principal, Groom Law Group
The Practical Implementation of Dodd-Frank for End UsersWG Consulting
Provides
standardized messaging
formats for regulatory
reporting
24/7 support for
regulatory questions
and issues
Messaging
Assistant
Page 22
Compliance Message Management System (cont.)
Benefits of CMM:
- Automates Dodd-Frank regulatory reporting requirements
- Reduces internal compliance costs and resource needs
- Provides 24/7 monitoring and support for regulatory issues
- Future proofs your organization for changing regulations
- Scalable solution that grows with your business needs
- Hands-off approach allows IT/Compliance to focus on value-added tasks
As of May 2012
Page 23
Questions?
As of May 2012
Euromoney - Global Insolvency & Restructuring Review 2013-14Anindya Roychowdhury
Three key points:
1) Kuwait was one of the first countries to introduce a stimulus package after the 2008 credit crunch, allocating $14 billion, but there has been limited success with only one case admitted under the bailout scheme and workouts being held up by regulatory hurdles.
2) Investment companies (ICs) in Kuwait, many of which were overleveraged, have struggled amid falling asset values and tightening regulations, with most ICs now headed towards default and in need of restructuring.
3) Restructurings have faced challenges due to reluctance among fragmented lenders to coordinate, cultural preferences for rescheduling over restructuring, and lack of specialized re
The document provides an overview and analysis of the Dodd-Frank Act, which was passed by Congress in 2010 to address systemic risk in the U.S. financial system following the 2008 financial crisis. It discusses key aspects of the Act, including the creation of the Financial Stability Oversight Council to monitor systemic risk, restrictions on the Federal Reserve's ability to bail out failing institutions, the introduction of resolution authority as an alternative to bailouts, and new regulations around executive compensation. The analysis questions whether some of the Act's approaches for dealing with failing banks and systemic risk, such as resolution authority, will be effective in practice.
Michael Western Reserve financial reform primer- march 2010Michael Durante
This document summarizes potential outcomes of ongoing debates around financial services reform in the US Senate. It argues that the Senate will likely expand the Federal Reserve's oversight role over large financial institutions and its authority to resolve "too big to fail" institutions. It also predicts the Senate will establish an advisory council for the Federal Reserve but leave it with independent authority. A new consumer protection agency may be established but with limited powers housed at the Federal Reserve. Proposals for new bank taxes and an strict "Volcker Rule" will likely be watered down or rejected.
Orderly Liquidation Authority under Dodd-FrankSimon Lacey
This is a presentation I prepared while at Georgetown University Law Center in 2001 on Orderly Liquidation Authority under the then newly enacted Dodd-Frank Act.
Citing Private Equity Concerns, New York Department of Financial Services Pro...NationalUnderwriter
Citing Private Equity Concerns, New York Department of Financial Services Proposes Increased Scrutiny and Disclosure for Acquisitions of New York Domestic and Commercially Domiciled Insurers by Eric R. Dinallo, Thomas M. Kelly, Marilyn A. Lion, and Nicholas F. Potter.
On May 14, 2014, the New York State Department of Financial Services (“NYDFS”) proposed an amendment to the regulation that sets forth the filing and other regulatory requirements for the acquisition and retention of control of New York domestic and commercially domiciled insurers that includes specific requirements directed at acquisitions by private equity firms and other similar investors.
In the regulatory impact statement that accompanies the proposed changes, the NYDFS stated that the changes
reflect the NYDFS’ concern that private equity firms and other similar investors have a “focus on maximizing their
short-term financial returns rather than ensuring that long-term policyholders receive the insurance benefits for which
they have paid.”
The NYDFS went further to state its concern that the short-term focus may lead to “an incentive to increase investment risk and leverage in order to boost short-term returns.”
Mortgage Redress For The Over Indebted 090516William O'Brien
The document provides information about mortgage redress services offered by Scott Robert, including:
1) Scott Robert audits mortgage cases to identify potential mis-selling and produces reports detailing issues and estimated compensation.
2) Common issues identified include advising unaffordable mortgages, debt consolidation when debt management was more suitable, and interest-only mortgages without repayment plans.
3) One example case resulted in £60,224.96 compensation through the Financial Services Compensation Scheme after the advising broker ceased trading.
Factoring is a financial arrangement where a business can sell its outstanding invoices or accounts receivable to a third party at a discounted rate in exchange for immediate cash flow. This allows businesses access to cash quickly to meet financial obligations when cash flow is tight. The document discusses how factoring works, the types of factoring arrangements, and analyzes how factoring is treated under UAE law. Factoring is considered an assignment of debt under UAE law and certain requirements must be met, such as consent from all parties, for the assignment to be valid. While factoring can be a beneficial way to access cash, businesses must ensure the legal technicalities of any factoring agreements comply with UAE law.
Submission to commission on banking standards sdj 08 02 13 final Simon Deane-Johns
This submission discusses the crisis in the UK retail finance market and the growth of alternative finance models. It notes that small businesses face a funding gap of up to £59 billion, while over 90% rely on four major banks for financing. New models like peer-to-peer lending, supply chain finance, and marketplace finance are emerging to fill this gap. Peer-to-peer platforms allow individuals and small businesses to directly agree loan and investment terms without pre-packaged bank products. Regulatory barriers currently favor traditional banks over alternative finance providers. Reforms are needed to level the playing field.
Do you want to transfer all your hard earned assets to your loved ones? Have you worked whole your life and you want to be secure for the future of your family? For more information visit: http://margarianlaw.com/
Recognising intra-group loans following the OECD’s FTTP guidanceChristos Theophilou
Christos Theophilou and Costas Savva of Taxatelier consider how the OECD’s guidance on financial transactions and transfer pricing (FTTP) can be interpreted in consideration of intra-group loans. The article appears in International Tax Review, published by Euromoney PLC.
The document summarizes recommendations from a report by the American Bankruptcy Institute (ABI) commission on reforms to U.S. bankruptcy law. The ABI commission studied issues that were not contemplated in the 1978 Bankruptcy Code and proposed several changes. These include: slightly slowing the increasing speed of bankruptcy sales, restricting the use of "milestones" that require a sale within 60 days; trimming back the protections of "safe harbors" for securities transactions; and giving more protections to unions and trademark license holders in business sales.
Authorisation under the new Consumer Credit regimeRachel Tandy
As of 1 April 2014. consumer credit businesses must now be authorised under FSMA rather than licensed under the Consumer Credit Act. These slides summarise the key changes.
This document discusses unfair credit contracts and advocating for consumers. It provides examples of unfair mortgage refinancing and fringe lending practices. For mortgage refinancing, it describes how brokers often provide consumers with more credit than requested, resulting in equity skimming. It also discusses obligations to assess repayment capacity. For fringe lending, it notes short term high interest loans targeted at disadvantaged groups. The document concludes by outlining Consumer Action's campaign for responsible lending regulations and capacity to negotiate relief for consumers.
This document provides an overview of Oracle database concepts and tools. It describes the core components of an Oracle database including the database, server processes, memory structures, and client/server architecture. It also outlines the tools used to configure an Oracle database such as the Oracle Universal Installer, Database Configuration Assistant, and command line utilities. Automatic Storage Management (ASM) is discussed as the preferred storage management solution.
The document summarizes key provisions of the recently passed Financial Reform Law. It discusses regulations that will expand federal oversight of financial institutions, create a new Consumer Financial Protection Bureau, and reform mortgage and lending practices. Major changes include restricting proprietary trading by banks, requiring "skin in the game" for risky asset-backed securities, and new rules regarding debit/credit fees charged to retailers. The full implementation of the law will take years and financial institutions should consult legal counsel on how it affects their practices.
Africa is home to over 1 billion people from many different races and cultures. While some Africans live in small villages, many reside in large cities. The continent has a diverse array of wildlife including lions, giraffes, monkeys and buffalo. Africa has a wealth of natural resources such as gold, diamonds, and crops like coffee, cotton and cocoa which are exported around the world. The Nile River plays a crucial role by providing water and transportation.
WG Consulting & ZE PowerGroup Lunch and Learn: Presenting a Dodd-Frank Softwa...WG Consulting
During a Lunch and Learn held with one of our esteemed Partners, ZE PowerGroup, our panel of experts discussed the challenges corporations find with Dodd-Frank and presented the software that WG Consulting and ZE PowerGroup built as an answer to those challenges.
1. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Wall Street Reform Act) was signed into law in 2010 to comprehensively regulate the financial sector in response to the 2007-2010 financial crisis.
2. Key provisions of the Act include granting the SEC authority to establish a fiduciary standard for broker-dealers, modifying the definition of "accredited investor," permitting the SEC to restrict mandatory arbitration agreements, and bringing hedge funds and private equity funds over $150 million in assets under SEC regulation.
3. The Act also creates new regulatory bodies, studies various financial industry topics, and changes regulations regarding issues like investment advisor disclosures, insurance, and performance-based fees.
The Retirement Landscape: Technical and Legal UpdateBPAS
The DoL’s proposed fiduciary regulation is the most controversial ERISA initiative since the enactment of the statute in 1974. If adopted as proposed, the regulation will have significant impact on financial institutions selling products to IRAs and 401(k) plans. The proposed changes would essentially open up the $7 trillion IRA market to ERISA, impacting the sale of investment products, from mutual funds to variable annuities, to IRAs. The proposal would also change the definition of an “advice fiduciary,” making it easier for the DoL to assert claims against persons or entities selling investment products or gathering assets.
In this session, we’ll discuss the impact of the DoL proposal for your business, from the stand-point of what needs to be changed to make the proposal “workable” and what you’ll need to do to comply if the proposal is adopted without change. Specifically, this session will focus on:
Changes to the definition of Investment Advice Fiduciary
Fiduciary status “carve-outs” for sales presentations
The new Best Interest Contract Exemption for IRAs
Changes to PTE 84-24 and other Exemptions
Guest Speaker: Steve Saxon, Principal, Groom Law Group
The Practical Implementation of Dodd-Frank for End UsersWG Consulting
Provides
standardized messaging
formats for regulatory
reporting
24/7 support for
regulatory questions
and issues
Messaging
Assistant
Page 22
Compliance Message Management System (cont.)
Benefits of CMM:
- Automates Dodd-Frank regulatory reporting requirements
- Reduces internal compliance costs and resource needs
- Provides 24/7 monitoring and support for regulatory issues
- Future proofs your organization for changing regulations
- Scalable solution that grows with your business needs
- Hands-off approach allows IT/Compliance to focus on value-added tasks
As of May 2012
Page 23
Questions?
As of May 2012
Euromoney - Global Insolvency & Restructuring Review 2013-14Anindya Roychowdhury
Three key points:
1) Kuwait was one of the first countries to introduce a stimulus package after the 2008 credit crunch, allocating $14 billion, but there has been limited success with only one case admitted under the bailout scheme and workouts being held up by regulatory hurdles.
2) Investment companies (ICs) in Kuwait, many of which were overleveraged, have struggled amid falling asset values and tightening regulations, with most ICs now headed towards default and in need of restructuring.
3) Restructurings have faced challenges due to reluctance among fragmented lenders to coordinate, cultural preferences for rescheduling over restructuring, and lack of specialized re
The document provides an overview and analysis of the Dodd-Frank Act, which was passed by Congress in 2010 to address systemic risk in the U.S. financial system following the 2008 financial crisis. It discusses key aspects of the Act, including the creation of the Financial Stability Oversight Council to monitor systemic risk, restrictions on the Federal Reserve's ability to bail out failing institutions, the introduction of resolution authority as an alternative to bailouts, and new regulations around executive compensation. The analysis questions whether some of the Act's approaches for dealing with failing banks and systemic risk, such as resolution authority, will be effective in practice.
Michael Western Reserve financial reform primer- march 2010Michael Durante
This document summarizes potential outcomes of ongoing debates around financial services reform in the US Senate. It argues that the Senate will likely expand the Federal Reserve's oversight role over large financial institutions and its authority to resolve "too big to fail" institutions. It also predicts the Senate will establish an advisory council for the Federal Reserve but leave it with independent authority. A new consumer protection agency may be established but with limited powers housed at the Federal Reserve. Proposals for new bank taxes and an strict "Volcker Rule" will likely be watered down or rejected.
Orderly Liquidation Authority under Dodd-FrankSimon Lacey
This is a presentation I prepared while at Georgetown University Law Center in 2001 on Orderly Liquidation Authority under the then newly enacted Dodd-Frank Act.
Citing Private Equity Concerns, New York Department of Financial Services Pro...NationalUnderwriter
Citing Private Equity Concerns, New York Department of Financial Services Proposes Increased Scrutiny and Disclosure for Acquisitions of New York Domestic and Commercially Domiciled Insurers by Eric R. Dinallo, Thomas M. Kelly, Marilyn A. Lion, and Nicholas F. Potter.
On May 14, 2014, the New York State Department of Financial Services (“NYDFS”) proposed an amendment to the regulation that sets forth the filing and other regulatory requirements for the acquisition and retention of control of New York domestic and commercially domiciled insurers that includes specific requirements directed at acquisitions by private equity firms and other similar investors.
In the regulatory impact statement that accompanies the proposed changes, the NYDFS stated that the changes
reflect the NYDFS’ concern that private equity firms and other similar investors have a “focus on maximizing their
short-term financial returns rather than ensuring that long-term policyholders receive the insurance benefits for which
they have paid.”
The NYDFS went further to state its concern that the short-term focus may lead to “an incentive to increase investment risk and leverage in order to boost short-term returns.”
Mortgage Redress For The Over Indebted 090516William O'Brien
The document provides information about mortgage redress services offered by Scott Robert, including:
1) Scott Robert audits mortgage cases to identify potential mis-selling and produces reports detailing issues and estimated compensation.
2) Common issues identified include advising unaffordable mortgages, debt consolidation when debt management was more suitable, and interest-only mortgages without repayment plans.
3) One example case resulted in £60,224.96 compensation through the Financial Services Compensation Scheme after the advising broker ceased trading.
Factoring is a financial arrangement where a business can sell its outstanding invoices or accounts receivable to a third party at a discounted rate in exchange for immediate cash flow. This allows businesses access to cash quickly to meet financial obligations when cash flow is tight. The document discusses how factoring works, the types of factoring arrangements, and analyzes how factoring is treated under UAE law. Factoring is considered an assignment of debt under UAE law and certain requirements must be met, such as consent from all parties, for the assignment to be valid. While factoring can be a beneficial way to access cash, businesses must ensure the legal technicalities of any factoring agreements comply with UAE law.
Submission to commission on banking standards sdj 08 02 13 final Simon Deane-Johns
This submission discusses the crisis in the UK retail finance market and the growth of alternative finance models. It notes that small businesses face a funding gap of up to £59 billion, while over 90% rely on four major banks for financing. New models like peer-to-peer lending, supply chain finance, and marketplace finance are emerging to fill this gap. Peer-to-peer platforms allow individuals and small businesses to directly agree loan and investment terms without pre-packaged bank products. Regulatory barriers currently favor traditional banks over alternative finance providers. Reforms are needed to level the playing field.
Do you want to transfer all your hard earned assets to your loved ones? Have you worked whole your life and you want to be secure for the future of your family? For more information visit: http://margarianlaw.com/
Recognising intra-group loans following the OECD’s FTTP guidanceChristos Theophilou
Christos Theophilou and Costas Savva of Taxatelier consider how the OECD’s guidance on financial transactions and transfer pricing (FTTP) can be interpreted in consideration of intra-group loans. The article appears in International Tax Review, published by Euromoney PLC.
The document summarizes recommendations from a report by the American Bankruptcy Institute (ABI) commission on reforms to U.S. bankruptcy law. The ABI commission studied issues that were not contemplated in the 1978 Bankruptcy Code and proposed several changes. These include: slightly slowing the increasing speed of bankruptcy sales, restricting the use of "milestones" that require a sale within 60 days; trimming back the protections of "safe harbors" for securities transactions; and giving more protections to unions and trademark license holders in business sales.
Authorisation under the new Consumer Credit regimeRachel Tandy
As of 1 April 2014. consumer credit businesses must now be authorised under FSMA rather than licensed under the Consumer Credit Act. These slides summarise the key changes.
This document discusses unfair credit contracts and advocating for consumers. It provides examples of unfair mortgage refinancing and fringe lending practices. For mortgage refinancing, it describes how brokers often provide consumers with more credit than requested, resulting in equity skimming. It also discusses obligations to assess repayment capacity. For fringe lending, it notes short term high interest loans targeted at disadvantaged groups. The document concludes by outlining Consumer Action's campaign for responsible lending regulations and capacity to negotiate relief for consumers.
This document provides an overview of Oracle database concepts and tools. It describes the core components of an Oracle database including the database, server processes, memory structures, and client/server architecture. It also outlines the tools used to configure an Oracle database such as the Oracle Universal Installer, Database Configuration Assistant, and command line utilities. Automatic Storage Management (ASM) is discussed as the preferred storage management solution.
The document summarizes key provisions of the recently passed Financial Reform Law. It discusses regulations that will expand federal oversight of financial institutions, create a new Consumer Financial Protection Bureau, and reform mortgage and lending practices. Major changes include restricting proprietary trading by banks, requiring "skin in the game" for risky asset-backed securities, and new rules regarding debit/credit fees charged to retailers. The full implementation of the law will take years and financial institutions should consult legal counsel on how it affects their practices.
Africa is home to over 1 billion people from many different races and cultures. While some Africans live in small villages, many reside in large cities. The continent has a diverse array of wildlife including lions, giraffes, monkeys and buffalo. Africa has a wealth of natural resources such as gold, diamonds, and crops like coffee, cotton and cocoa which are exported around the world. The Nile River plays a crucial role by providing water and transportation.
Mars is known as the Red Planet due to iron in its dusty soil which gives it a red appearance. It has two small moons called Phobos and Deimos. While visible throughout history, the first successful mission to Mars was Mariner four in 1965, with many missions since seeking to learn more about the planet and its surface conditions and history.
This document discusses diagnosing database issues and corruption. It covers the Data Recovery Advisor, which can detect, analyze, and repair failures. It also covers handling block corruption, setting up the Automatic Diagnostic Repository (ADR) to store diagnostic data, and using the Health Monitor to perform proactive database checks. Key topics include listing and advising on failures using RMAN, performing block media recovery, viewing ADR data with ADRCI, and running manual and automatic Health Monitor checks.
This document discusses database performance monitoring and tuning. It covers monitoring sessions and services, database replay for testing, and collecting optimizer statistics. The key activities for performance management are planning, instance tuning, and SQL tuning. Performance is monitored using views for sessions, services, wait events, and statistics. Tuning involves identifying and addressing the greatest resource bottlenecks. Database replay captures production workloads to test systems with realistic data.
Hockey is a team sport that was invented in 1875 and originally played on frozen lakes and rivers, involving two teams using a rubber puck. It has specific rules like no high sticking or icing, and set positions including a goalie, defenders, forwards, and centers like Sidney Crosby, who is considered one of the best players.
The document discusses how to automate tasks using the Oracle Database Scheduler. It describes the core components of the Scheduler including jobs, programs, schedules, and arguments. It provides examples of how to create time-based and event-based schedules. It also covers more advanced Scheduler concepts such as job chains, windows, job classes, and prioritization of jobs.
Hockey is a team sport that was invented in 1875 and originally played on frozen lakes and rivers, involving two teams using a rubber puck. It has specific rules like no high sticking or icing, and set positions including a goalie, defenders, forwards, and centers like Sidney Crosby, considered one of the best players who captained the Pittsburgh Penguins at a young age.
This document discusses managing memory in Oracle Database. It describes the different components of memory including the SGA and PGA. It emphasizes using Automatic Memory Management (AMM) and Automatic Shared Memory Management (ASMM) to automatically configure memory, rather than manual configuration. It provides guidelines for monitoring and optimizing memory usage.
Tablespace point-in-time recovery (TSPITR) allows recovery of one or more tablespaces to an earlier point in time without affecting other tablespaces. It performs restore and recovery of data files for the recovery set and auxiliary set to the target time, then exports and imports metadata to make the recovered tablespaces available. TSPITR is useful for undoing DML changes or recovering from logical corruption in a subset of the database, and can be fully automated using RMAN or performed with a custom auxiliary instance.
This document discusses using a recovery catalog with RMAN for database backups and recovery. It covers:
1. The benefits of using a recovery catalog over just the control file, such as storing more historical data.
2. Creating a recovery catalog which involves configuring a catalog database, creating an owner, and generating the catalog.
3. Registering target databases with the catalog and maintaining the catalog's synchronization with database changes.
This document discusses using Oracle tools to manage database performance through SQL tuning. It covers using the SQL Tuning Advisor to identify and tune SQL statements that use the most resources. It also discusses using the SQL Access Advisor to tune a workload and the SQL Performance Analyzer to compare SQL performance before and after changes. The objectives are to learn to use these tools to optimize SQL performance and tune applications and workloads.
This document provides an overview of Oracle Data Guard Broker 12c Release 1 (12.1), including its components, user interfaces, benefits, and how it manages Oracle Data Guard configurations. It describes how the Oracle Data Guard Broker installs and works with Control File and Oracle Automatic Storage Management (ASM). The document outlines the management cycle of a broker configuration, state transitions, properties, and redo transport services.
This document provides a complete reference for the Server Control Utility (SRVCTL) in Oracle Database. It includes topics on using SRVCTL to manage configuration information for databases, instances, listeners, and other clusterware resources. The document outlines the SRVCTL command syntax and privileges required to perform administrative tasks. It also lists deprecated SRVCTL commands and options in Oracle Database 11g Release 2.
This document summarizes key provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act related to the creation of the Consumer Financial Protection Bureau (CFPB). It outlines the CFPB's structure, functions, rulemaking authority, and enforcement powers. Additionally, it discusses ways state Attorneys General can partner with the CFPB, including compelling rulemaking, petitioning for rulemaking, and commenting on proposed rules. The overall goal is to establish an effective partnership between the CFPB and state AGs to enforce consumer financial protection.
The document outlines recommendations for financial regulatory reform, including the creation of a Consumer Financial Protection Agency (CFPA) to consolidate oversight of consumer protection and establish clear rules for mortgages, credit cards, and other financial products. It discusses how the CFPA would eliminate abusive practices like predatory lending and misleading disclosures. The reform proposals also aim to close loopholes, increase oversight of financial firms and markets, and establish mechanisms for winding down failed financial institutions to prevent future crises and protect consumers, investors, and taxpayers.
Consumers' financial rights are protected by federal and state laws and regulations covering many services offered by financial institutions.
*All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
This document provides an overview of compliance training for employees at Devon Bank. It begins with introductions to regulatory compliance and how it affects the bank. It then reviews several key federal regulations that the bank must comply with, including those from the FDIC, OCC, FRB, and HUD. The training covers compliance examinations, visitations, and investigations. It also reviews regulations that apply specifically to the residential lending department, such as the Community Reinvestment Act, Fair Lending Law, and Home Mortgage Disclosure Act. Throughout, it emphasizes the importance of all bank employees understanding and adhering to the various compliance rules and regulations.
The document outlines key proposals and recommendations for financial regulatory reform contained in reports released by the Obama Administration in June and August 2009. It summarizes the causes of the financial crisis, including inadequate consumer and investor protections, insufficient oversight of financial firms, poor oversight of markets, and lack of mechanisms for resolving failed firms. The proposals aim to establish a new Consumer Financial Protection Agency, increase oversight of financial firms and markets, implement new rules for winding down failed firms, and enhance international coordination of standards. If enacted, the reforms are intended to protect consumers, investors, and taxpayers and prevent future crises.
Chapter 2- The Impact on Government Policy and Regulation.pdfMd Nazmul Hasan
The document discusses government regulation of the banking and financial services industry. It covers the reasons for regulation including protecting public savings, controlling money supply, and promoting fairness. Major laws that originated banking regulation in the US are discussed, including the National Currency Acts of 1863-1864, the Federal Reserve Act of 1913, and the Glass-Steagall Act of 1933. The Glass-Steagall Act established the FDIC, separated commercial and investment banking, and prohibited risky bank activities until it was partially repealed in 1999.
Dodd-Frank's Impact on Regulatory ReportingHEXANIKA
We previously analyzed how Dodd-Frank and how the new regulations have impacted large banks as well as midsize and small banks. This time, we will look at how the law meant to address one issue (avoid a financial meltdown similar to 2008) might have created other challenges for banks – the most important one that of regulatory reporting:
1) The document provides definitions and explanations of key concepts related to banking including the definition of banking, banking companies, statutes governing banking companies, and functions of banks.
2) It explains that banking companies accept deposits and use the money to make loans. Their main function is to channel money from savers to borrowers. Various laws at both the federal and state level regulate banking companies.
3) The document also describes the system of bookkeeping used in banks including the general ledger, subsidiary books like cash books, purchase books and sales books, as well as bills receivable and payable books. Maintaining accurate accounting records is important for banks.
The Consumer Financial Protection Bureau (CFPB) recently celebrated its second birthday. During its first two years of existence, the CFPB has shown itself to be an aggressive consumer-protection agency. It is particularly noteworthy because its broad jurisdictional mandate could impact virtually any business that makes a loan to any consumer. Consumer lenders need to be alert to the sweeping implications this agency will have for their future business activities.
Proposed amendments to the financial services bill sdj 21 06 12Simon Deane-Johns
A set of amendments I was asked to prepare for a cross-party group of Peers for their review of the Financial Services Bill. Explained further on The Fine Print: http://sdj-thefineprint.blogspot.co.uk/2012/06/innovation-meets-financial-services.html
This document provides an overview of regulatory compliance training for employees at Devon Bank. It discusses key federal regulations that Devon Bank must comply with, including regulations from the FDIC, OCC, FRB, and others. The training is intended to educate employees on compliance responsibilities, avoiding penalties for noncompliance, and why regulatory compliance is important.
The document summarizes the Managed Funds Association's (MFA) policy highlights and engagement with regulators on financial regulatory reform in the U.S. in 2014. Key areas of focus included tax policy, the Commodity Futures Trading Commission reauthorization, regulating systemic risk, central clearing of derivatives, and implementation of the JOBS Act. The MFA supports principled financial regulatory reform and intends to remain engaged with legislators and regulators on these issues.
Chapter08: Bank Legislation and Regulation PPTPheng Chandara
This document discusses bank legislation and regulation in the United States. It covers the goals of bank regulation including protecting banks, depositors, and communities from failure. Major laws that established the federal deposit insurance system and addressed the savings and loan crisis are summarized. The document also outlines consumer protection laws and the federal agencies that enforce compliance through examinations. Banking regulations cover areas like monetary policy, safety and soundness, international banking, and consumer protection.
The New Paradigm In Vendor Management Under CFPB - Law360John Barnes
The document discusses the Consumer Financial Protection Bureau's (CFPB) oversight of third-party vendors that provide services to financial institutions. It outlines that the CFPB holds financial institutions responsible for the conduct of their third-party service providers. The CFPB has taken enforcement actions against banks for issues caused by vendors' noncompliance. The document also notes uncertainty around which types of entities would be considered "service providers" by the CFPB, leaving financial institutions to assume broad oversight of companies involved in lending.
This training provides Devon Bank employees with information about regulatory compliance. It discusses the various federal regulations that Devon Bank must comply with, including regulations from the FDIC, OCC, FRB, and others. It emphasizes that all employees are responsible for understanding and following the rules and regulations that pertain to their departments in order to avoid penalties for noncompliance.
Alternative Finance Briefing Paper - Simon Deane-Johns 27 01 12Simon Deane-Johns
Submitted on 27 January 2012 to the UK Government's Red Tape Challenge on Disruptive Business Models (http://www.redtapechallenge.cabinetoffice.gov.uk/themehome/disruptive-business-model/) and the Taskforce on Non-bank Finance (http://www.bis.gov.uk/businessfinance). Related posts are here: http://sdj-thefineprint.blogspot.co.uk/2012/01/submission-on-new-model-for-retail.html
Dodd frank wall_street_reform_comprehensive_summary_finalmberre
The Dodd-Frank Act created new regulations and agencies to reform the financial system after the 2008 crisis. It established the Consumer Financial Protection Bureau to regulate consumer financial products and the Financial Stability Oversight Council to monitor systemic risk. It also aimed to end "too big to fail" by giving regulators authority to liquidate large failing firms and limiting high-risk activities like derivatives trading and proprietary trading at banks.
4. 1
US SENATE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS , BRIEF SUMMARY OF THE DODD-FRANK WALL STREET REFORM
AND CONSUMER PROTECTION ACT 12 (2010),
http://banking.senate.gov/public/_files/070110_Dodd_Frank_Wall_Street_Reform_comprehensive_summary_Final.pdf.
2
Id. at 14.
3
Id. at 8 and 13.
4
Lynnette Khalfani-Cox, 7 Ways Financial Reform Will Impact Your Life, Posting to Wallet Pop, AOL Money & Finance,
July 21, 2010, http://www.walletpop.com/blog/2010/07/21/7-ways-financial-reform-will-change-your-financial-life.
5
Id.
6
Id.
7
US SENATE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS, supra note 1 at 13.
8
Andrew Johnson, Buried in Reform Law, a Ban on Debit Exclusivity, AMERICAN BANKER, July 28, 2010,
http://www.americanbanker.com/issues/175_143/reform-law-debit-1023048-1.html.