The Consumer Financial Protection Bureau ("CFPB") introduced a streamlined electronic submission system for prepaid account issuers to submit account agreements, including fee information, to the agency. The Prepaid Accounts Rule gives consumers of prepaid debit cards and associated accounts certain federal protections that already exist for checking accounts and credit cards. According to the CFPB, prepaid issuers can register for the system until April 1, 2019 ( i.e., the effective date of the Prepaid Rule). In addition, the CFPB released compliance materials for prepaid issuers, including

The Consumer Financial Protection Bureau ("CFPB") reported that the number of Suspicious Activity Reports ("SARs") on elder financial exploitation ("EFE") significantly increased between 2013 and 2017. According to the report, the number of SARs filings as to EFE reached 63,500 in 2017. The CFPB stated that this number represents only a "tiny fraction of the incidents of exploitation." The CFPB also indicated that less than one-third of the SARs filers reported potential exploitation to the authorities. Much of the report reviews statistical data as to the content of the SARs filings regarding

The SEC adopted an interim final rule modifying the timing for submissions by SEC-registered investment companies of reports on Form N-PORT. Form N-PORT is a new form for certain registered investment companies to report to the SEC and the public information as to their portfolio holdings in a structured data format. The interim final rule will also amend Form N-LIQUID to provide a "voluntary explanatory notes section," allowing registrants to provide additional information related to their filings. The interim final rule will become effective upon its publication in the Federal Register. The

The Federal Reserve Board ("FRB") final amendments to a policy statement on the scenario design framework for stress testing were published in the Federal Register. In addition, the FRB stress test policy statement was published in the Federal Register. The final amendments and the final policy statement - previously covered here - go into effect on April 1, 2019.

The SEC proposal allowing issuers to communicate with potential investors to determine whether such investors might be interested in a "contemplated registered securities offering" was published in the Federal Register. Comments on the proposal - previously covered here - must be submitted by April 29, 2019.