Press Release A new online Federal Reserve publication helps consumers better understand new notices they may receive from lenders when credit reports or credit scores affect a decision to grant credit. Date January 12, 2011

News Article Rep. Barney Frank, D-Mass., accused House Republicans on Tuesday of trying to defund the Dodd-Frank financial overhaul that he championed last year. Frank, said that GOP lawmakers are out to sabotage the act under the guise of deficit-cutting. "The Republicans will defund the agencies effectively not because [of the deficit]--this is relatively small compared to what is spent at the Pentagon and elsewhere--but because they are philosophically opposed to this kind of regulation," he said. "And I don't think the public wants to go back to the days of unrestrained trading and

Financial Markets Law Committee The FMLC has provided its comments to a consultation paper by the European Commission on principles which would underpin a proposed European Securities Directive. One of the concerns raised by the FMLC is that the proposed definition of securities should include an express exclusion of derivatives and other instruments not commonly regarded as securities.

Financial Markets Law Committee The FMLC has issued a paper which discusses aspects of financial collateral that require further clarification and possible solutions to the existing ambiguity. The report notes in particular a recent ruling by the UK High Court that floating charges can constitute a security financial collateral arrangement provided that the collateral is "delivered, transferred, held, registered or otherwise designated so as to be in the possession or under the control of the collateral taker or a person acting on its behalf".

CFTC Dodd-Frank Rulemaking The CFTC, U.S. Department of Agriculture Economic Research Service, and Farm Foundation NFP will co-host a workshop on carbon market design from January 31 to February 1, 2011. The workshop will bring together policymakers, industry participants, nongovernmental organizations and academics to discuss issues facing the establishment of efficient carbon markets in the United States. The workshop will serve as a forum to consider the lessons learned from existing carbon/environmental markets to inform policymakers about potential hurdles to the design of domestic carbon