Consumer Protection Act

Federal Deposit Insurance Corporation Releases Economic Scenarios for 2020 Stress Testing

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On February 14, the Federal Deposit Insurance Corporation (FDIC) released the hypothetical economic scenarios for use in the upcoming stress tests for covered institutions with total consolidated assets of more than $250 billion. Required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the economic stress test scenarios include 28 variables – such as gross domestic product, the unemployment rate, stock market prices, and interest rates – covering domestic and international activity designed to assess the strength and resilience of financial institutions. Release.

SEC Adopts Rule on Disclosure of Payments by Resource Extraction Issuers

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On June 27, 2016, the Securities and Exchange Commission announced that it adopted rules, mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to require resource extraction issuers to disclose payments made to governments for the commercial development of oil, natural gas or minerals.  The rules are intended to promote greater transparency regarding payments related to resource extraction. Release. Final Rule.

SEC Adopts Rule for Pay Ratio Disclosure

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On August 5, the SEC adopted a final rule that requires a public company to disclose the ratio of the compensation of its CEO to the median compensation of its employees. The new rule was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act and provides companies with flexibility in calculating this pay ratio.  Release.  Final Rule.

Credit Risk Retention – Joint Regulatory Proposed Rules

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On March 28, 2011, the Office of the Comptroller of Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Securities and Exchange Commission, the Department of Housing and Urban Development and the Federal Housing Finance Agency released a joint notice of proposed rulemaking to implement the credit risk retention requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The paper linked below provides an in-depth examination of the proposed rules and their implications for financial markets. Click here to read more.