On July 5, 2021, the Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog, released its findings from a yearlong review documenting the progress that its member countries have made towards implementing its guidance on regulation
Continue Reading New Report Shows Majority of ‘Financial Action Task Force’ Countries Have Not Implemented Virtual Asset Guidance
On June 30, 2021, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in consultation with the U.S. attorney general, federal functional regulators, relevant state financial regulators, and relevant national security agencies, announced new federal anti-money laundering and
Continue Reading FinCEN Identifies New Anti-Money Laundering (AML) National Priorities
On June 28, 2021, the Consumer Financial Protection Bureau (CFPB, or the Bureau) issued its Final Rule amending RESPA Regulation X to provide significant foreclosure protections to borrowers.
Continue reading the full GT Alert.
Continue Reading Update: CFPB Finalizes Pandemic Mortgage Servicing Rules
Welcome to the Spring 2021 issue of Greenberg Traurig’s Financial Services Insights Newsletter. This newsletter reviews certain significant cases and legal developments affecting the financial services industry.
In This Issue:
Spotlight on…
GT Insights
Upcoming Events
Q&A with GT’s Ben
Continue Reading Financial Services Insights | Spring 2021
On May 4, 2021, the Consumer Financial Protection Bureau (CFPB or the Bureau) released two new reports that double down on its message in early April 2021 that the Bureau is heightening its supervisory and enforcement scrutiny of mortgage servicers.
Continue Reading CFPB Reiterates Focus on Mortgage Industry COVID-19 Response, Highlights Fair Servicing Concerns
Over the last week, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) has sharpened its focus on the mortgage servicing industry. Knowing that millions of mortgage borrowers will exit COVID-19 moratoriums and forbearance plans in the fall, the Bureau
Continue Reading CFPB Intensifies Focus on Pandemic Mortgage Servicing
The Division of Examinations (the Division) (formerly known as the Office of Compliance Inspections and Examinations, or OCIE) of the U.S. Securities and Exchange Commission (SEC) released its annual list of 2021 Examination Priorities on March 3, 2021.
Many of the
Continue Reading 2021 SEC Examination Priorities for Securities Industry Registrants
On Feb. 1, 2021, the Financial Regulatory Authority (FINRA) released its 2021 Report on FINRA’s Examination and Risk Monitoring Program (Report), in which it identifies its areas of examination focus for FINRA member firms (Firms) in 2021. The Report replaces
Continue Reading 2021 Report on FINRA’s Examination and Risk Monitoring Program
On Jan. 13, 2021, the Division of Investment Management staff (Staff) of the Securities and Exchange Commission (Commission) issued a no-action letter advising that it would not recommend enforcement action to the Commission under Section 17(f) of the Investment Company
Continue Reading SEC Staff Issues No-Action Relief for Custody of Certain Loan Interests Under the Investment Company Act
On Jan. 1, 2021, the U.S. Senate overwhelmingly voted (81-13) to override President Trump’s veto of the National Defense Authorization Act for Fiscal Year 20211, passing into law legislation that includes – as Division F – the Anti-Money Laundering Act
Continue Reading The Anti-Money Laundering Act of 2020: Congress Enacts the Most Sweeping AML Legislation Since Passage of the USA PATRIOT Act
