Ms. O’Mara is an associate in Davis Polk's Financial Institutions Group. [Full Bio]

The Leveraged Lending Guidelines are in an uncomfortable state of limbo.  After the GAO ruling that the Guidelines are a “rule” under the Congressional Review Act, they are no longer effective as guidance, but the silence from the OCC, the Federal Reserve, and the FDIC has been deafening.[1] The uncertainty
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Yesterday afternoon, the CFPB issued a final rule that, once it becomes effective, is designed to prohibit providers of certain consumer financial products or services from using pre-dispute arbitration clauses to bar consumers from participating in class action lawsuits.  Although covered providers will still be permitted to include mandatory arbitration
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House Speaker Paul Ryan’s A Better Way policy agenda states that “it is time for serious and fundamental reform” of how regulations are made. The House of Representatives is considering a number of bills that would transform the processes by which agencies—particularly the federal financial regulatory agencies—promulgate regulations. The following
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Last week, the House of Representatives passed three bills containing provisions that would require certain of the financial regulatory agencies to conduct cost-benefit analysis as part of the rulemaking process: the Regulatory Accountability Act of 2017 (H.R. 5), the SEC Regulatory Accountability Act (H.R. 78), and the Commodity End-User Relief
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