On July 15, 2010, the Senate approved the conference report for H.R. 4173, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Act"). The House approved the conference report on June 30. The bill is scheduled for signature by the president next week. The Act includes a number of important provisions of interest, which we will address in a series of Alerts to our Banking Clients. This Alert addresses measures related to the thrift charter, risk retention for asset-backed securities sales, deposit insurance and business checking accounts. A summary of these new changes includes the following:
(i) the residual income of the mortgagor after all monthly obligations;
(ii) the ratio of housing payments to the monthly income of the mortgagor; and
(iii) the ratio of total monthly installment payments to the income of the mortgagor.
Day Pitney Alert
On April 9, Jed Davis was one of the presenters on a webinar, "Cybersecurity Regulation: Navigating the New DFS Cybersecurity Regulation," distributed through Thomson Reuters.
Jed Davis spoke on "Cybersecurity: Surveying Current State and Federal Regulatory Activity By The SEC and NYDFS," a webinar presented by Bloomberg and moderated by cybersecurity expert Daniel Garrie.
Jed Davis authored an article, "Six Common Misconceptions About Cybersecurity," which appears in the March 5, 2018 issue of New York Law Journal as part of a special section on cybersecurity.
On December 7, Day Pitney, ICSGroup and CohnReznick co-sponsored "Launching a Private Fund: What You Need to Know."
Jed Davis was quoted in a breaking news article, "New York eases proposed cyber regulations after industry complaints," published by Reuters.
Day Pitney Press Release
Eliza Fromberg was quoted in an article, "FINRA's Capital Acquisition Broker Rules Face Tough Sell," in Law360.