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As previously reported on our blog the Dodd-Frank Act directs the Federal Reserve Bank to limit the fees banks collect from retailers each time a customer makes a purchase with a debit card to a „reasonable and proportional“ amount. Whereas merchants were delighted contending that these fees are hindering business growth, expansion plans and the…
Read MoreFederal Reserve Board Proposes Rule Related to Designation of Systemically Important Nonbank Financial Companies
February 11, 2011
On February 8, 2011, the Federal Reserve Board issued a notice of proposed rulemaking implementing Section 113 of the Dodd-Frank Act to further identify and define systemically important nonbank financial companies. The Dodd–Frank Wall Street Reform and Consumer Protection Act federal statute in the United States that was signed into law by President Barack Obama…
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