In a proposed rule and information request, the Federal Deposit Insurance Corporation expressed its concerns with the current brokered deposit restrictions and reporting requirements. Our Financial Services Team zeroes in on...more
Through joint guidance and an information request, federal bank regulators underscored banks’ compliance responsibilities in their banking-as-a-service (BaaS) relationships with third parties. Our Financial Services Team...more
8/9/2024
/ Banking Regulators ,
Banking Sector ,
Banks ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Nonbank Firms ,
Request For Information ,
Risk Management ,
Third-Party Risk
A federal judge has partially blocked a rule by the Federal Trade Commission (FTC) to ban most employer noncompete agreements. Our Labor & Employment and Antitrust teams weigh in on the impending ban’s uncertain future....more
Our Labor & Employment and Antitrust teams unpack the new Federal Trade Commission rule banning most employer noncompete clauses....more
The New York State Department of Financial Services has issued an industry letter detailing the prior approval process for all New York banking organizations seeking to engage in new or significantly different virtual...more
Our Financial Services & Products Group investigates the federal banking regulators’ roadmap for crypto-asset regulation in 2022 and a new OCC procedure national banks must comply with to conduct crypto-asset activities....more
New guidance from the Office of Foreign Assets Control seeks to help companies in the virtual currency industry with four specific objectives. Our Financial Services & Products and International Trade & Regulatory Groups...more
Our Financial Services & Products and Antitrust Groups examine the Biden Administration’s call to revitalize oversight of bank consolidations and what it means for smaller banks’ ability to compete against their larger...more
CSI: Confidential Supervisory Information is not a show many banks would enjoy watching, but it’s one of three areas our Financial Services & Products Group notes banks should keep in mind if they become the subject of...more
With the latest round of the Paycheck Protection Program comes a pair of interim final rules from the Small Business Administration. Our Financial Services & Products Group explores the significant changes to the PPP brought...more
Our Financial Services & Products Group studies the newly enacted anti-money laundering provisions of this year’s National Defense Authorization Act....more
Our Financial Services & Products Group unpacks the Federal Deposit Insurance Corporation’s most significant changes to brokered deposit regulations since 1989....more
Swans can be white or black or … green? Our Financial Services & Products and Securities Groups consider climate change and environmental, social, and governance (ESG) expectations for financial services firms and highlight...more
The Financial Crimes Enforcement Network takes the first of likely many steps to reform the outdated Bank Secrecy Act / Anti-Money Laundering regulatory scheme. Our Financial Services & Products and White Collar, Government &...more
Banking has evolved over the quarter century since the Department of Justice Antitrust Division released its 1995 Bank Merger Competitive Review Guidelines. Our Financial Services & Products and Antitrust groups explain what...more
As the coronavirus (COVID-19) pandemic continues, loan accommodation periods first instituted under the CARES Act in the spring are beginning to expire. Our Financial Services & Products Group analyzes the latest guidance...more
Our Financial Services & Products Group distills the Office of the Comptroller of the Currency’s new framework for the Community Reinvestment Act into four basic changes....more
Our Financial Services & Products Group discusses how federal agencies are clarifying how the Coronavirus Aid, Relief, and Economic Security (CARES) Act interacts with their previous statement on loan modifications and...more
The Coronavirus Aid, Relief, and Economic Security (CARES) Act sprawls across 800 pages. Our Financial Services & Products Group delves into the sections that deal specifically with banking and lending....more
3/31/2020
/ Banking Sector ,
Banks ,
CARES Act ,
Coronavirus/COVID-19 ,
FDIC ,
Federal Loans ,
Financial Institutions ,
Financial Services Industry ,
Financial Stimulus ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
Our Financial Services & Products Group examines how federal regulators – speaking with a single voice – will view loan modifications during the coronavirus pandemic....more
The Federal Reserve finalized its rule on controlling-influence determinations, important to provide much-needed clarity and certainty for investments in and by banking organizations. Our Financial Services & Products Group...more
Our White Collar, Government & Internal Investigations, International Trade & Regulatory, and Financial Services & Products groups mine the latest federal guidance for ways financial institutions can best use the risk-based...more
On September 8, 2016, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) issued a 107-page joint...more
9/23/2016
/ Banks ,
Broker-Dealer ,
Commodities ,
Depository Institutions ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
FSOC ,
Goldman Sachs ,
Gramm-Leach-Blilely Act ,
Morgan Stanley ,
OCC
On June 2, 2016, the Consumer Financial Protection Bureau (CFPB) released a long-anticipated proposal pursuant to its authority under the Dodd-Frank Wall Street Reform and Consumer Protection Act to regulate the provision and...more
The Federal Deposit Insurance Corporation (FDIC) today adopted a final rule that amends how established small banks are assessed for deposit insurance. The final rule, which affects banks with less than $10 billion in assets...more