escabral13 / finalpaperdoddfrankfed

Systemic Designations, Enhanced Prudential Standards, and Banking Supervision and Regulation

Volcker Rule

Staff of the Federal Reserve Board met with representatives of RBC to discuss the restrictions on proprietary trading and hedge fund and private equity fund activities under section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (also known as the “Volcker Rule”).

http://www.federalreserve.gov/newsevents/rr-commpublic/rbc--meeting-20120827.pdf

2012-08-27

Federal Reserve Board Staff and Representatives of Royal Bank of Canada ("RBC") (PDF)

Meeting

Federal Reserve Board Staff and Representatives of Royal Bank of Canada ("RBC")

Systemic Designations, Enhanced Prudential Standards, and Banking Supervision and Regulation

Volcker Rule

Staff of the Federal Reserve Board and the Securities and Exchange Commission met with representatives of Silicon Valley Bank ("SVB") to discuss the restrictions on proprietary trading and hedge fund and private equity fund activities under section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (also known as the "Volcker Rule"). Representatives of SVB discussed their concerns with the impact of the proposed rule implementing section 619 on venture capital funds. The representatives provided and discussed background information regarding bank investments in venture capital funds and a presentation regarding section 619 of the Dodd-Frank Act and investments in venture capital funds (both attached).

http://www.federalreserve.gov/newsevents/rr-commpublic/SVB_SEC_Meeting_20120821.pdf

2012-08-21

Federal Reserve Board Staff, SEC Staff, and Representatives of Silicon Valley Bank (PDF)

Meeting

Federal Reserve Board Staff, SEC Staff, and Representatives of Silicon Valley Bank

Consumer Financial Protection

Members of the Missouri Bankers Association met with Governor Raskin to discuss regulatory requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"). Association members expressed heightened concern about the regulatory burden associated with current and pending Dodd-Frank rulemakings, and they noted that compliance costs were particularly onerous for small community banks. Members also raised concerns about the potential liability for lenders under the Board's proposed amendments to Regulation Z (Docket No. R-1417). They requested that the final rule include exemptions for certain types of loans or institutions, as well as safe harbors. Association members said credit availability for consumers would likely be reduced as a result of this proposal and other regulatory actions.

http://www.federalreserve.gov/newsevents/rr-commpublic/missouri_bankers_assn_meeting_20110922.pdf

2011-09-22

Missouri Bankers Association Meeting (PDF)

Meeting

Missouri Bankers Association

Consumer Financial Protection

Members of the Maryland Bankers Association met with Governor Raskin to discuss implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"). They cited the cumulative regulatory burden of current and anticipated regulations, including the many required rulemakings under Dodd-Frank. Association members expressed concern about proposed amendments to Regulation Z (Truth in Lending) regarding consumers' ability to repay and minimum mortgage underwriting standards (Docket No. R-1417). They warned that compliance costs, restrictions, and potential penalties could have the unintended consequence of discouraging banks from making residential mortgage loans. Association members also said clarification was needed on risk weighting and qualified and nonqualified mortgages.

http://www.federalreserve.gov/newsevents/rr-commpublic/maryland_bankers_assn_meeting_20110915.pdf

2011-09-15

Maryland Bankers Association (PDF)

Meeting

Maryland Bankers Association

Consumer Financial Protection

Members of the Arkansas Bankers Association met with Federal Reserve staff to discuss implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"). They cited the cumulative regulatory burden and compliance costs arising from existing regulations and the additional required rulemakings under Dodd-Frank. Association members expressed concern about the proposed amendments to Regulation Z (Truth in Lending) regarding consumers' ability to repay a mortgage and minimum mortgage underwriting standards (Docket No. R-1417). They warned of unintended consequences. For example, consumers might be overwhelmed by too many disclosures, and credit might become less available if regulatory hurdles discouraged community banks from making certain types of loans.

http://www.federalreserve.gov/newsevents/rr-commpublic/arkansas_bankers_assn_meeting_20110914.pdf

2011-09-14

Arkansas Bankers Association (PDF)

Meeting

Arkansas Bankers Association

Consumer Financial Protection

Staff from the Federal Reserve Board had a conference call with representatives of Visa and the law firm of Paul, Hastings, Janofsky, and Walker to discuss the remittance transfer provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The representatives provided an overview of the Visa Money Transfer product and also discussed particular aspects of the remittance transfer provisions, including disclosure of information at the time a sender places a Visa Money Transfer order, error resolution, cancellation, and refunds.

http://www.federalreserve.gov/newsevents/rr-commpublic/Visa_Meeting_20110714.pdf

2011-07-14

Visa Meeting (PDF)

Meeting

Visa

Consumer Financial Protection

Staff from the Federal Reserve Board met with representatives of Inter-American Dialogue to discuss the remittance transfer provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Specific topics of discussion included disclosure of taxes in the recipient country and the date of availability, foreign language disclosures, error resolution, cancellation, and refunds.

http://www.federalreserve.gov/newsevents/rr-commpublic/Inter-American_Dialogue_Meeting_20110714.pdf

2011-07-14

Inter-American Dialogue Meeting (PDF)

Meeting

Inter-American Dialogue

Consumer Financial Protection

The Consumer Advisory Council ("CAC"), established in 1976, advises the Federal Reserve Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters in the area of consumer financial services. The CAC membership represents interests of consumers, communities, and the finance services industry. Members are appointed by the Board of Governors and serve staggered three-year terms. The CAC meets three times a year in Washington, D.C., and the meetings are open to the public. Board staff discussed two rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act") with CAC members during the March 2011

http://www.federalreserve.gov/newsevents/rr-commpublic/CAC_meeting_20110308.pdf

2011-03-08

Consumer Advisory Council Meeting (PDF)

Meeting

Consumer Advisory Council

Consumer Financial Protection

Staff from the Federal Reserve Board met with representatives of the Neighborhood Assistance Corporation of America to discuss the ability to repay and qualified mortgage provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Neighborhood Assistance Corporation of America representatives also described their purchase and HomeSave programs, and provided Federal Reserve Board staff information on those programs.

http://www.federalreserve.gov/newsevents/rr-commpublic/NACA_meeting_20110303.pdf

2011-03-03

Neighborhood Assistance Corporation of America Meeting (PDF)

Meeting

Neighborhood Assistance Corporation of America

Consumer Financial Protection

Following a meeting on November 3, 2010, and subsequent call on, February 3, 2011, between staff from the Federal Reserve Board and representatives of Western Union, Western Union submitted written correspondence to Board staff regarding the remittance transfer provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The submitted materials outline Western Union's suggestions regarding regulatory implementation of the error resolution requirements set forth in the provisions.

http://www.federalreserve.gov/newsevents/rr-commpublic/Western_Union_communication_20110224.pdf

2011-02-24

Western Union Communication (PDF)

Communication

Western Union Communication