CFPB Director Rohit Chopra warned that anti-competitive behavior by industry participants will not be allowed to impede the CFPB's required shift to open banking.
News & Insights
A broker-dealer settled SEC charges for failing to comply with Regulation Best Interest in connection with recommendations to retail brokerage customers purchasing mutual fund shares in their IRAs.
The OCC, the Federal Reserve Board ("FRB") and the FDIC (collectively, the "Agencies") set effective dates on amendments to rules implementing the Community Reinvestment Act ("CRA"). The agencies published the rule and the effective dates in the Federal Register.
A municipal securities firm settled FINRA charges for failing to file complete and timely quarterly reports with the Municipal Securities Rulemaking Board and for failing to establish, maintain, and enforce an adequate supervisory system.
An investment adviser was fined for failing to adequately investigate concerns raised about the miscalculation of "risk share" returns used by a Pennsylvania public pension plan, and for material misstatements and omissions about the reasons for the miscalculation.