Kanika Chander

On July 21, 2010, President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the Financial Reform Act, declaring the Financial Reform Act to contain "the strongest consumer financial protections in history."

On July 6, 2010, the Federal Reserve's Regulation E prohibition of overdraft fees will take effect. From then on, financial institutions will no longer be able to charge a fee when a consumer overdraws a checking account by making a debit card purchase or requesting an ATM withdrawal for an amount that exceeds the consumer's available funds, unless the overdraft service is expressly authorized by the account holder.

On November 25, 2009, the Securities and Exchange Commission approved in their entirety the proposed amendments to the corporate governance requirements of the NYSE Listed Company Manual.  These amendments will become effective January 1, 2010.