July 3, 2007

Financial Services Alert - July 3, 2007

  • Federal District Court Dismisses 401(k) Excessive Fee Litigation
  • OCC Issues Guidance Clarifying its Capital and Liquidity Expectations for National Trust Banks
  • FRB Amends Regulation E to Exempt Transactions of $15 or Less from Receipt Requirement
  • Banking Agencies Determine Bank Merger Act Not Applicable to Bank/Thrift Acquisition of Credit Card Portfolios with Small Credit Balances
  • OCC Issues Report Concerning Best Practices Used by Loan Servicers to Prevent Foreclosures
  • SEC Issues Release Proposing Electronic Filing and Revised Information Requirements for Form D
  • OCC Confirms National Banks May Honor Items Relating to Deposit Accounts with Insufficient Funds and Charge Overdraft Fees
  • SEC Extends Temporary Exemption  of Banks from Definition of “Broker” under Securities Exchange Act of 1934
  • SEC Eliminates Short Sale Price Tests