Page 9 - Compliance Monthly 10-7-2019

Proposed Rules
Comment Period
Proposed Rule
CFPB Proposed Debt Collection
Rules
Update of Statistical Disclosures for
Bank and Savings and Loan
Registrants publication in the Federal
Treasury Proposed Regulations to
Reform National Security Reviews
for Certain Foreign Investments and
Other Transactions in the United
States
FDIC Proposed Changes to
Assessment Credits
Summary
Close
CLOSED Amend Regulation F to prescribe Federal rules governing the activities of debt
collectors, as that term is defined in the FDCPA. The Bureau's proposal would,
among other things, address communications in connection with debt
collection; interpret and apply prohibitions on harassment or abuse, false or
misleading representations, and unfair practices in debt collection; and clarify
requirements for certain consumer-facing debt collection disclosures.
https://www.federalregister.gov/documents/2019/05/21/2019-
09665/debt-collection-practices-regulation-f
60-day public comment The proposed rules would update the disclosures that investors receive,
period following codify certain Guide 3 disclosures and eliminate other Guide 3 disclosures
that overlap with Commission rules, U.S. Generally Accepted Accounting
Register Principles (“U.S. GAAP”), or International Financial Reporting Standards
(“IFRS”). In addition, we propose to relocate the codified disclosures to a new
subpart of Regulation S-K and to rescind Guide 3.
https://www.sec.gov/rules/proposed/2019/33-10688.pdf
October 17, 2019 Will implement the Foreign Investment Risk Review Modernization Act of
(A final version of the rule 2018 (FIRRMA) and to better address national security concerns arising from
will take effect no later certain investments and real estate transactions. FIRRMA and the proposed
regulations strengthen and modernize the Committee on Foreign Investment
than February 13, 2020( in the United States (CFIUS), an interagency committee authorized to review
certain transactions involving foreign investment in the United to determine
the effect of such transactions on the national security of the United States.
The rule will also implement CFIUS’s new jurisdiction over certain non-
controlling investments into certain U.S. businesses involved in critical
technology, critical infrastructure, or sensitive personal data. They also
implement CFIUS’s new jurisdiction over certain real estate transactions
involving foreign persons.
https://home.treasury.gov/news/press-releases/sm779
9/30/2019 Would amend the deposit insurance assessment regulations that govern the
use of small bank assessment credits (small bank credits) and one-time
assessment credits (OTACs) by certain insured depository institutions (IDIs).
Under the proposal, once the FDIC begins to apply small bank credits to
quarterly deposit insurance assessments, such credits would continue to be
applied as long as the Deposit Insurance Fund (DIF) reserve ratio is at least
1.35 percent (instead of, as currently provided, 1.38 percent). In addition,
after small bank credits have been applied for eight quarterly assessment
periods, and as long as the reserve ratio is at least 1.35 percent, the FDIC
would remit the full nominal value of any remaining small bank credits in
lump-sum payments to each IDI holding such credits in the next assessment
period in which the reserve ratio is at least 1.35 percent, and would
simultaneously remit the full nominal value of any remaining OTACs in lump-
sum payments to each IDI holding such credits.
https://www.federalregister.gov/documents/2019/08/29/2019-
18257/assessments
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