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In this Issue. The Federal Deposit Insurance
Corporation (FDIC) proposed guidelines for corporate governance and
risk management; the Consumer Financial Protection Bureau (CFPB)
issued a report, guidance, and supervisory highlights focused on
junk fees; the CFPB and the Justice Department issued a joint
statement affirming that creditors may not use immigration status
to illegally discriminate against credit applicants; the Financial
Industry Regulatory Authority (FINRA) issued a Special Purpose
Acquisition Company (SPAC) sweep exam update; and the Board of
Governors of the Federal Reserve System (Federal Reserve) finalized
a rule establishing capital requirements for insurers. These and
other developments are discussed in more detail below.
Financial Services Weekly Roundup
Our weekly newsletter highlights important legal, regulatory,
and business developments related to consumer financial services
and banking.
Regulatory Developments
FDIC Proposes Guidelines for Corporate Governance and Risk
Management
On October 3, the Board of Directors of the…
