Federal Issues
Credit Cards
- Credit Card Practice Revisions (Legislation & Regulation)
For the past couple years, the credit card industry has been under attack. Regulators are attempting to impliment a sweeping 2008 final Rule while Congress is still introducing additional bills.
- Capping Interchange Fees
Over the past couple years, retailers, merchants and various other supporters have petitioned Congress to pass a bill that would force credit card companies and banks to lower merchant interchange fees.
Regulatory Reform
- Too-Big-to-Fail
Disallowing companies to grow to the stage where their downfall would create systemic problems in our economy was a key factor the Obama Administration wants to target through regulatory reform actions.
- Regulation of Derivatives
House Democrats are attempting to pass a bill that would regulate derivatives - a type of financial instrument criticized by House Financial Services Committee Chairman Frank and others to be at the heart of the financial turmoil.
- Federal Regulatory Reform Plan
On June 16th, President Obama released a sweeping proposal to overhaul of the financial regulatory system that Congress is working to enact by the end of the year.
- Consumer Financial Protection Agency
One aspect of the Obama Administration's vast regulatory restructuring proposal is the creation of the Consumer Financial Protection Agency.
- National Bank Supervisor - Abolition of the OTS
The consolidation of bank regulators is another facet of the Obama Administration’s financial regulatory reform plan.
TARP
- CAP Funds for Community Banks
The Obama Administration released a plan aimed to stimulate small business lending by making government investment capital available to smaller community banks.