The Filing Cabinet

The massive data breach that hit consumer credit rating firm Equifax is the catalyst for a run of Congressional hearings, new data protection legislation, and investigations by the Department of Justice and FTC.

Keeping with efforts to improve capital formation, the House of Representatives has approved legislation that would extend applicability of the SEC's Regulation A+.

The National Association of Federally-Insured Credit Unions and the government's Small Business Association have signed a new Memorandum of Understanding and extended their partnership.

The Commodity Futures Trading Commission is bringing two, much-needed commissioners to the table with the swearing-in of Brian Quintenz and Rostin Behnam.

A massive data breach at the credit rating service Equifax has gifted Democrats and other supporters of the CFPB's arbitration rule with fresh ammo.

Current and future sanctions efforts by the Treasury Department to financially strike back against North Korean aggression were dissected by Assistant Treasury Secretary Marshall Billingslea during a recent House committee hearing.

The consumer credit reporting agency Equifax has announced a cyber-security incident that may have exposed the data of 143 million U.S. consumers. Credit card numbers for approximately 209,000 U.S. consumers were accessed. 

The Department of Education has killed an information-sharing agreement with the CFPB that was intended to protect student loan borrowers. It called the Bureau “an overreaching and unaccountable agency.”

Bucking the trend established by vocal critics of the rule, the Investment Adviser Association wants the SEC to preserve the fiduciary duty for investment advisers and adopt an equally stringent standard for broker-dealers.

SEC Commissioner Michael Piwowar, while serving as acting chairman, acted appropriately when moving forward with rule re-proposals, says Inspector General Carl Hoecker in a response to complaints by Senate Democrats.

Business leaders, including prominent CEOs, are demanding fast action by Congress to protect immigrant employees covered by an Obama era executive order that was rescinded by the Trump Administration this week.

President Trump has nominated Robert Jackson, a professor at Columbia University and proponent of a controversial political spending disclosure rule proposal, to be a member of the SEC.

As of Sept. 1, rule and form amendments requiring hyperlinks are in effect. The changes were put in place by the SEC to make it easier for investors and other market participants to find and access exhibits in registration statements and periodic reports.

Judge Amos Mazzant of the Eastern District of Texas has invalidated the Obama administration’s controversial rules regarding overtime pay. The Labor Department was already considering a reproposal prior to the decision.

A review commissioned by Wells Fargo has increased the number of falsified accounts at the bank from 2.1 million to nearly 3.5 million. Last year, the CFPB fined the bank for the “widespread illegal practice of secretly opening unauthorized deposit and credit card accounts.”

Sen. Amy Klobuchar (D-Minn.) is questioning the speed of the FTC’s review and approval of Amazon's blockbuster acquisition of Whole Foods. “I am concerned about the decision not to fully review [the deal],” she says. 

Amid the current political hunger for deregulation, Janet Yellen, chairman of the Board of Governors of the Federal Reserve, recently delivered an impassioned defense of the current regulatory environment. Don’t drop the ball now, she warned.

Federal and state bank regulators have issued guidance for institutions in Texas suffering from the devastating effects of Hurricane Harvey. The advisory addresses temporary branches, loan modifications, and leniency regarding regulatory obligations and compliance deadlines.

Sen. Tammy Duckworth (D-Ill.) is asking the FBI to launch an investigation into "potential violations of federal law" by Carl Icahn, a billionaire investor and former adviser to President Trump on regulatory matters. Icahn is accused of conflicts of interest connected to that advisory role.

Earlier this month, Brian Quintenz was officially sworn in to serve as a commissioner on the Commodity Futures Trading Commission. Joining him will be Bruce Tuckman, an internationally-recognized economist and expert in modern derivatives markets, as the agency’s chief economist.

Jeb Hensarling (R-Texas), chairman of the House Financial Services Committee, is escalating attacks on CFPB Director Richard Cordray. In a letter this week, he accuses Cordray of rushing to finalize payday loan regulations to suit his political ambitions and a potential run for governor in Ohio.

The Financial Crimes Enforcement Network has expanded efforts to require that title insurance companies identify the true owners behind shell companies used to pay for high-end real estate.

The SEC has announced the new rate for fees that public companies and other issuers pay to register their securities. The rate, for fiscal year 2018, is $124.50 per million dollars.

CMS, the agency that administers Medicare and other health insurance programs, is talking to medical professonals in an effort to reduce burdensome and unecessary rules, says Administrator Seema Verma.

EPA Administrator Scott Pruitt appears in a new video that urges the nation’s cattlemen to support and comment on a proposal to repeal the controversial Waters of the United States rule.