Premier Banking Law News and Insights

On October 12, the Securities and Exchange Commission (SEC) adopted amendments to the electronic recordkeeping requirements for broker-dealers (Rule 17a-4 under the Securities Exchange Act of 1934 sets forth the recordkeeping requirements). The amendments modernize and make more flexible the broker-dealer recordkeeping requirements. The amendments will become effective 60 days...

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The Consumer Financial Protection Bureau ("CFPB") issued guidance on February 7 in the form of an Advisory Opinion intended to "protect mortgage borrowers from pay-to-play digital comparison-shopping platforms." Specifically, the Advisory Opinion is focused upon addressing the applicability of the Real Estate Settlement Procedures Act ("RESPA") to operators of "digital technology platforms that enable...

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On January 11, 2023, the Consumer Financial Protection Bureau ("CFPB") proposed a rule that would establish a public registry of supervised nonbanks' "take it or leave it" form contract provisions that effect a waiver or limitation of consumer rights and protections, such as bankruptcy rights, liability amounts, or complaint rights...

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