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FEATURED ISSUE TCH Publishes the Role of the Board of Directors Report 05/05/16

The TCH report, The Role of the Board of Directors in Promoting Effective Governance and Safety and Soundness for Large U.S. Banking Organizations, serves as a resource to both banks... Read More

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TCH Files Comment Letter with FSB on Its Compensation Practices Consultation Aug 30, 2017

In a response to the FSB’s consultation entitled Supplementary Guidance to the Principles and Standards on Sound Compensation Practices, The Clearing House (TCH) recommends that if the FSB proceeds with issuing internationally endorsed guidelines in this area, it should issue a revised consultation that recognizes the successful implementation of various public sector compensation frameworks, avoids the introduction of any new, specific standards, and provides bank boards and management with appropriate flexibility to maintain dynamic compensation practices that evolve over time to keep pace with legal, market, and risk-management developments.

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TCH Files Comment Letter on Proposal Revising Call Reports Aug 22, 2017

The Clearing House (TCH) filed a comment letter with the OCC, Fed, and FDIC, responding to a proposal to revise FFIEC 051, FFIEC 041, and FFIEC 031 Call Reports. While TCH appreciates the Agencies’ efforts to reduce reporting burden, TCH opposes the proposed changes to the definition of past due and the scope of the 031, and offers several constructive suggestions to more meaningfully reduce reporting burden.

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Joint-Trades File Amici Brief Arguing for Judicial Review of CAMELS Ratings Aug 14, 2017

The Clearing House (TCH), joined by the ABA and the ICBA, filed an amici brief in connection with Builders Bank v. FDIC, a case on remand from the Seventh Circuit in the U.S. District Court for the Northern District of Illinois, which raises the question of whether judicial review is available for CAMELS ratings. 

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TCH and FSR Submit Letter to Treasury on FinCEN and OFAC Regulations as Part of Review Jul 31, 2017

The Clearing House (TCH) and FSR filed a letter with the Treasury Department on its Review of Regulations, which was issued under Executive Orders 13771 and 13777 to facilitate public review and recommendations regarding Treasury regulations and guidance, including those promulgated by FinCEN and OFAC, that could be “eliminated, modified, or streamlined in order to reduce burdens.”

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TCH Files Letter with FATF on Its Information Sharing Consultation Jul 28, 2017

The Clearing House (TCH) submitted a letter to the Financial Action Task Force (FATF) on its Public Consultation on the Draft Guidance for Private Sector Information Sharing.

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TCH and Chamber of Commerce File Amicus in Ex Rel. Bishop and Kraus v. Wells Fargo Jul 20, 2017

The Clearing House (TCH) and the Chamber of Commerce filed a joint amicus brief in a case involving the False Claims Act (FCA).

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TCH Responds to SEC Proposal on Guide 3 Jun 29, 2017

TCH urges the SEC to significantly streamline Guide 3 so that it acts as a “gap filler” for U.S. BHCs, whereby items that provide meaningful information and are not otherwise required in SEC filings be retained and items that duplicate or overlap with U.S. GAAP, Regulation S-K or Regulation S-X disclosures, or do not provide meaningful information, be eliminated.

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TCH Responds to BCBS G-SIB Surcharge Assessment Methodology Proposal Jun 27, 2017

The Clearing House (TCH) filed a comment letter with the BCBS in response to its Consultative Document on proposed changes to the G-SIB surcharge assessment framework.  In the letter, TCH expresses serious concerns about the proposed change to the substitutability category, which would disproportionately and adversely affect four U.S. banks.  TCH also details the broader framework’s conceptual and methodological flaws and calls for the BCBS to comprehensively revise the framework to reflect the actual systemic risks posed by G-SIBs, and thereby align it with its stated objectives. 

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TCH Files Comment Letter on LCR Disclosure Requirement Jun 02, 2017

In the letter to the Federal Reserve, The Clearing House (TCH) requested that the Federal Reserve postpone the applicability of the disclosure requirements to any company for one-year to April 1, 2018 in order to avoid the potential negative effects of the requirements and to allow stakeholders additional time to further review and consider whether any such public disclosure requirements are necessary.

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Trades File Amici Re: ‘Valid-When-Made’ Principle May 23, 2017

The Clearing House (TCH), the ABA, and the LSTA filed amicus briefs in the U.S. District Court for the District of Colorado in each of Cross River Bank’s and Web Bank’s declaratory judgment actions against the state of Colorado. 

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Associations Comment on CFPB Assessment of Remittance Transfer Rule May 23, 2017

The Clearing House (TCH), BAFT, the CBA, and the ABA, submitted a letter to the CFPB in response to the Bureau’s notice and request for information (“RFI”) regarding its planned assessment of regulations pertaining to consumer remittance transfers under the Electronic Fund Transfer Act.

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TCH Responds to BCBS Step-in Risk Proposal May 15, 2017

The Clearing House letter is supportive of the Basel Committee’s revisions to the proposed guidelines for the identification and management of step-in risk. However the letter notes numerous aspects of the proposal that need to be updated in order to achieve the Basel Committee’s objectives of sensitivity to residual step-in risk and simplicity of the framework. 

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TCH Files Amicus Briefs in State of Colorado v. Avant and State of Colorado v. Marlette May 03, 2017

The Clearing House (TCH), joined by the ABA and the LSTA, filed two amicus briefs in U.S. District Court for the District of Colorado in connection with two cases brought by the State of Colorado against two marketplace lenders, Avant and Marlette, each of which purchases loans from a respective state-chartered bank partner. The amicus briefs argue (similar to our Madden amicus briefs) that: (i) Madden contradicts important, long-settled expectations concerning usury law, and (ii) adopting Madden would have harmful economic consequences. 

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TCH Responds to the OCC Re: FinTech Charter Applications Apr 14, 2017

TCH submitted a letter to the OCC responding to their recent release of a draft supplement to its licensing manual entitled Evaluating Charter Applications From Financial Technology Companies. 

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Public Input and a Transparent Process Produce Better Regulation, TCH Association President Says in Congressional Testimony Apr 06, 2017

TCH Association President Greg Baer testified before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit. The hearing focused on opportunities to reform the financial regulatory system.

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TCH Files Amicus in CalPERS v. ANZ Securities Apr 05, 2017

The Clearing House (TCH) and SIFMA filed an amicus with the SCOTUS in support of the respondents, ANZ Securities, Inc., et al. in California Public Employees’ Retirement System v. ANZ Securities, Inc. et al.

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TCH Files Amicus in Henson v. Santander Consumer USA, Inc. Mar 27, 2017

TCH, the ABA, and CBA filed an amicus with the SCOTUS in support of the respondent, Santander Consumer USA, in Henson v. Santander Consumer USA, Inc.

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TCH Provides Fed with Study on Merchant Banking Activities Mar 10, 2017

The Clearing House study, submitted to the Fed, examines the merchant banking activities conducted by twelve FHCs most active in this space.

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TCH Submits Comment Letter on Capital Treatment for Fronting Commitments Feb 28, 2017

In the letter to the Fed, OCC and FDIC, The Clearing House proposed that a fronting bank should include only the exposure amount corresponding to its pro rata share of the fronting commitment as an off-balance-sheet exposure for both risk-based capital purposes and for its total leverage exposure in calculating its supplementary leverage ratio.

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TCH & SIFMA Respond to the FDIC‘s NPR Re: QFCs Recordkeeping Requirements Feb 27, 2017

The Clearing House (TCH) letter expresses support for harmonizing Part 371 (which requires troubled IDIs to maintain records related to their QFCs) with a similar QFC recordkeeping rule for large financial groups recently adopted by the Treasury Secretary, but identifies specific areas where the FDIC’s rules would continue to diverge from the Treasury’s Final Rule.

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