Title X of the Dodd-Frank Act (aka: Consumer Financial Protection Act of 2010), created the Consumer Financial Protection Bureau (CFPB or Bureau) as an independent agency within the Board of Governors of the Federal Reserve...
securities
Dodd-Frank: Title XI - Federal Reserve System Provisions
Introduction
Title XI addresses changes to the Federal Reserve System. First, the Title allows greater supervision of the Federal Reserve’s operations by allowing the Comptroller General of the United States (the Comptroller) to audit the...
Dodd-Frank: Title XII - Improving Access to Mainstream Financial Institutions
Introduction
Title XII authorizes the Secretary of the United States Department of the Treasury to create multi-year grant programs designed to encourage Title XII’s targeted group, low-to-moderate income individuals, to utilize mainstream...
Dodd-Frank: Title XIII - Pay It Back Act
Introduction
Title XIII, commonly known as the “Pay It Back Act” (the Act), amends the Emergency Economic Stabilization Act of 2008 (EESA) by decreasing the Secretary of the Treasury’s (the Secretary) authority to purchase distressed assets...
Dodd-Frank: Title XIV - Mortgage Reform and Anti-Predatory Lending Act
Purpose
The 2008 economic crisis was triggered in part by the real estate bubble bursting. Mortgages became extremely easy to obtain, and many of those mortgages had predatory provisions that made it difficult for borrowers to pay off the...
Dodd-Frank: Title XV - Miscellaneous Provisions
Introduction
Title XV contains seven miscellaneous provisions. Title XV restricts the ability of the United States’ Executive Director at the International Monetary Fund to approve loans to foreign countries that are unlikely to be repaid in...
Dodd-Frank: Title XVI - Section 1256 Contracts
Title XVI – Section 1256 Contracts
Title XVI supplements Title VII and modifies Internal Revenue Code (IRC) § 1256 by exempting certain derivative contracts from treatment as § 1256 contracts for taxation purposes. Title VII imposes trading and...
due diligence defense
The due diligence defense is a defense against claims of securities fraud under Section 11 of the Securities Act. The rationale for the due diligence defense is that parties involved in drafting the registration statement who conducted...
emerging growth company (EGC)
Emerging growth company (EGC) is a category of issuer for which the disclosure and gun-jumping regulations are relaxed.
The Jumpstart Our Business Startups (JOBS) Act of 2012 created the category emerging growth companies...
equitable ownership
Equitable ownership, in the context of corporate/commercial law, is a doctrine under which an individual who exercises sufficient control over the corporation may be deemed an equitable owner, notwithstanding the fact that the individual is...