A mortgage banker agreed to pay a $5 million fine to settle charges brought by the New York State Department of Financial Services for failure to develop certain controls and keep records as required under state banking law.
The Bank of New York Mellon Corporation agreed to pay a $6.6 million penalty to settle SEC allegations of reporting, recordkeeping and accounting failures based on a miscalculation of risk-based capital ratios and risk-weighted assets.
The Consumer Financial Protection Bureau requested comments on its proposed amendments to procedures and rules for the disclosure of records and information. The request for comments was published in the Federal Register.
The IRS and the U.S. Treasury Department examined proposed regulations to the Internal Revenue Code that would recharacterize certain debt instruments issued to related parties as equity for U.S. federal income tax purposes.