Better Know Your CEO: New York Issues Final Guidance on Character and Fitness
The NYDFS issued final supervisory guidance requiring New York-licensed or chartered banking institutions and financial services companies to establish and maintain a framework for assessing the character and fitness of their directors, senior officers, and managers. Covered institutions must conduct initial and ongoing reviews, tailor assessments based on risk profiles, and promptly report adverse findings. Read more>>
Legislation to regulate earned wage access (EWA) providers is
rapidly increasing across states, with recent bills introduced in
Arizona, Florida, Hawaii, and Kentucky in January 2024, following
Nevada and Missouri's lead from June 2023. These bills outline
differing approaches to regulating EWA transactions, particularly
regarding whether they are considered loans or credit, prompting
calls for a unified regulatory framework from industry
associations.
Read More>>
Legal Updates On Hot Topics
Securitization – What to Expect in 2024
Community Reinvestment Act Rule Overhaul Finalized by U.S. Banking Regulators
Time Warp? Proposed Basel Endgame Reporting Requirements Released Before Final Rule
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