In a letter to the CFPB, the American Bankers Association warned that shifting the liability for fraudulent payments on peer-to-peer instant payment systems to institutions will likely have negative consequences.

The American Council of Life Insurers ("ACLI") submitted a statement to the Health, Education, Labor and Pensions Subcommittee criticizing the Department of Labor's proposed fiduciary duty rule. The ACLI statement was submitted at a Subcommittee hearing titled "Restricting Access to Financial Advice: Evaluating the Costs and Consequences for Working Families and Retirees." According to ACLI, the Department of Labor's proposed fiduciary rule will "restrict activities that encourage low-to-moderate-income Americans to save, stifle the formation of small business workplace benefit plans, and

FINRA Reg. Notice 12-25 In November 2010, the SEC approved FINRA's new suitability rule, FINRA Rule 2111. FINRA then issued Regulatory Notice 11-02, which announced the SEC's approval of the new rule and discussed its requirements. FINRA also issued Regulatory Notice 11-25, which offered further guidance on the rule and announced a new implementation date of July 9, 2012. This Notice provides significant guidance in the form of an FAQ on the new rule, and should be reviewed by all broker-dealers. Implementation Date : July 9, 2012 Cross References : Lofchie's Guide to Broker-Dealer Regulation

Chairman of the House Agriculture Committee and Representative Frank Lucas (R-OK) and Representative Doug LaMalfa (R-CA) both issued statements in support of the CFTC's vote to exclude utility-operations-related swaps with utility special entities from the de minimis threshold for swaps with special entities. The Final Rule for Utility Swaps is aimed at preserving the ability of natural gas and electricity utilities to enter into swaps transactions to hedge their risks. See : House Ag Committee Press Release (Including Statements). R elated news: CFTC Finalizes Rule on Swaps with Special