rule proposal

CFPB Issues Proposed Rule to Stop ‘Junk Fees’ on Bank Accounts

By Timothy A. Butler & Matthew White on February 6, 2024

On Jan. 24, 2024, the Consumer Financial Protection Bureau (CFPB) released a proposed rule that would, if finalized in its present form, prohibit financial institutions from charging non-sufficient funds (NSF) fees when consumers initiate transactions that are instantaneously or near-instantaneously declined. Under the proposed “Fees for Instantaneously Declined Transactions rule (the “NSF Fee Rule”), charging…

New SEC Rule Proposal – Written Business Continuity and Transition Plans for Registered Advisers

By Richard M. Cutshall on June 30, 2016

Posted in Compliance, Financial Regulation, SEC

Earlier this week, the SEC issued a Press Release announcing a Rule Proposal that would require SEC-registered investment advisers to adopt written business continuity and transition plans (BCP) as part of their compliance program. The comment period on the Rule Proposal is expected to close in September. Under the proposed rule, an adviser’s written BCP…