All articles by Joe Mont – Page 28
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Blog
Fed plans transfer of consumer protection rules to CFPB
The Federal Reserve Board has announced the repeal of one regulation and revisions to another as part of an effort to transfer certain consumer protection rule-writing authority to the Consumer Financial Protection Bureau.
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Net neutrality repeal creates political chasms, raises regulatory conundrums
The FCC has voted 3-2 to repeal so-called net neutrality. Next up: political battles and regulatory confusion.
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Justice Dept., AGs, protest ‘bureaucratic sleight-of-hand’ in CFPB battle
The legal battle over leadership of the Consumer Financial Protection Bureau has escalated, with both the Department of Justice and a coalition of Republican attorneys general entering the fray.
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Battle lines solidify ahead of ‘net neutrality’ vote
Amid still-growing controversy, the Federal Communications Commission is readying itself for a ‘public’ hearing on one of the most controversial topics it has ever weighed in on: “net neutrality.”
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Financial services firms buckle down on data security
There is no single solution to prevent the many flavors of cyber-crime. Private enterprise and the government, however, should do a better job of working together.
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Amid uncertainty, SEC entrance into Fiduciary rule saga takes shape
While the Labor Department’s Fiduciary rule for investment advice remains uncertain amid lawsuits and Congressional attacks, the SEC prepares to issue its own version.
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House bill seeking clarity on joint employer standard passes
The House of Representatives, by a vote of 242-181, approved a bill that seeks to overturn an Obama administration NLRB ruling that redefined longstanding policies regarding joint employer status.
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Government's drone plans keep buzzing along
The Department of Transportation is giving the commercial use of drones a boost, announcing a new pilot program for testing and validating operations throughout the country.
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Dudley readies departure from New York Fed
New York Fed President William Dudley has announced he intends to retire from his position in mid-2018. He shared some early parting thoughts regarding regulatory responses to the Financial Crisis.
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How financial regulation will evolve under Fed Chairman Powell
If confirmed by the Senate, President Trump’s decision to promote Fed Governor Jerome Powell to chairman will further his deregulatory agenda, albeit in a kinder, gentler way.
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Article
Sexual harassment must become a compliance issue
No longer can sexual harassment claims be shuffled off to the HR department. The accusations need to be viewed in terms of materiality and reputation risk.
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Treasury releases third report on regulatory overhaul
The Treasury Department has released its third report of regulatory recommendations, this time looking at the framework for the asset management and insurance industries.
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Blog
White House outlines ambitious drone goals
The Trump administration, boasting of “the next great chapter of American aviation,” has outlined its ambitious goals for bringing more drones into the business world.
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CFPB’s Cordray pleads with President Trump to spare arbitration ban
With President Trump likely to sign away the CFPB’s ban on mandatory arbitration clauses, Director Richard Cordray has lobbed the political equivalent of a Hail Mary pass: a direct, personal letter seeking reconsideration.
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Retailers turn to Supreme Court to battle patent trolls
The Retail Litigation Center and the National Retail Federation have jointly filed an amicus brief before the U.S. Supreme Court to highlight the importance of upholding the Patent Trial and Appeal Board’s review process.
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Blog
Labor Dept. resurrects overtime rule, appeals judicial defeat
The Department of Labor will appeal a court ruling that invalidated a controversial rule on overtime pay as it moves forward with a revised set of requirements.
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Franchise owners pressure Congress on joint employer standard
Franchise business owners from 19 states have joined forces to demand clarity on joint employee status, fearing that federal, state, and judicial interpretations may differ. In letters to Congress, they also demand the passage of legislation to provide related assurances.
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SEC nominees make their pitch for long-empty seats
Questions about cyber-security, insider trading, materiality, and individual accountability greeted SEC nominees appearing before the Senate Banking Committee.
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Article
Defense contractors must face third-party risk head-on with new cyber-security rules
New, potentially overlooked government-issued cyber-security demands for defense contractors extend into their network of suppliers as of Dec. 31.
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Blog
OFR: Bank size not the whole story when measuring systemic importance
A new report from the Office of Financial Research argues that asset size alone is not an adequate determinant of the systemically important banks targeted for enhanced regulation.