New S.E.C. Powers in Dodd-Frank Act

Oct 28

As the Dodd-Frank financial overhaul bill moved through Congress this summer, the Securities and Exchange Commission — virtually unnoticed — gained a powerful new weapon that could significantly increase the agency’s force and reach, Reuters writes.

A provision deep in the 2,323-page law empowers the S.E.C. to bring many more cases for monetary penalties in administrative courts, where the rules are more favorable to the government than in federal court.

Several constitutional and other due-process protections that are available to defendants in federal court — from the right to demand a jury trial to broad discovery rights — do not exist in administrative courts, which are part of the agency itself.

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Terminate private transfer fees? Send your remarks here: SouthwestCaliforinaHomes.com

Oct 28
The Center for Regulatory Effectiveness Solicits Public Comment on Three Public Policy Issues Associated with the FHFA Proposed Private Transfer Fee Guidance

 
The Federal Home Finance Authority has proposed guidance which would terminate the use of Private Transfer Fees.  Private Transfer Fees are paid each time a property is sold and are often used for community benefit programs. Private transfer fees have also been used to provide a continual source of income for developers and investors.
 
The FHFA has received in excess of 2,500 comments. While the FHFA is reviewing these comments  the Center for Regulatory Effectiveness is asking the public and the regulated community to comment on the following public policy issues which emerge from CRE’s review of the public comments submitted to the FHFA:
1.   Should the FHFA issue a rule in lieu of guidance?
2.   Should the FHFA prepare an environmental impact statement on the transfer fee proposal?
3.     Should there be a “carve out” for the public use of transfer fees?

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New Posts on the Discussion Forum for Private Transfer Fees

Oct 28

 Discussion Forum at http://www.thecre.com/tForum/

 Freehold Capital Partners

 California Building Industry Association

 Sterling Atrium Corporation

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New home buyer? Beware private transfer fee

Oct 26

CRE Note: The following article is  from Newsday.com. We note in the last sentence the critical role that Freehold  Capital Partners has played in this imporant issue. Accordingly,  CRE will be presenting an indepth analysis of the comments they submitted to FHFA on its proposed Private Transfer Fee Guidance.

Thursday October 21, 2010 11:07 AM By Kristin Taveira

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Regulating Debit Card Interchange Fees: Minimizing the Harm

Oct 25

The Dodd-Frank financial reform legislation requires the Federal Reserve to set interchange fees for electronic debit card transactions.  These fees are a subset of the total costs paid by merchants for the business advantages accruing from acceptance of debit cards.

In setting the interchange rate, the legislation instructs the Federal Reserve to focus on the “the incremental cost incurred by an issuer…in the authorization…of a particular electronic debit transaction….”  As a Federal Reserve Bank of Richmond publication explained, however, “It is important to distinguish between incremental and marginal costs.”  The FRB went on to explain that incremental cost is greater than marginal cost and includes some fixed costs. 

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