Washington Report 360 | August 23, 2019

Final rules amending the Volcker Rule; Proposed amendments under the FHA Arct; Proposed delay of an effective date under CECL.

Key highlights

  • Final rules amending the Volcker Rule were approved by multiple agencies. Key changes include the tailoring of compliance requirements, modifications to the short-term intent prong, and amendments to the trading account definition.
  • HUD proposed amendments to the disparate impact standard under the FHA Act, shifting the burden of proof to the plaintiff (consumers).  
  • FASB proposed to delay the effective date of CECL for private organizations and certain public companies and organizations.

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