The proposal would establish stricter oversight of certain transactions and responds to concerns that large asset managers may be exerting influence on FDIC-supervised institutions.
On July 30, 2024, the Board of...more
8/9/2024
/ Acquisitions ,
Banking Sector ,
Banks ,
Change in Control ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
NPRM ,
OCC ,
Proposed Amendments ,
Publicly-Traded Companies
On July 19, 2024, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration...more
8/5/2024
/ AML/CFT ,
Anti-Money Laundering ,
Anti-Terrorism Financing ,
Bank Secrecy Act ,
Banks ,
Compliance ,
Customer Due Diligence (CDD) ,
Financial Institutions ,
Financial Regulatory Agencies ,
FinCEN ,
NPRM ,
Proposed Rules ,
Risk Assessment ,
Risk Management
With regulators keeping close watch, the results underscore the need for ongoing climate risk management investment and adaptation within the financial sector.
On May 9, 2024, the Board of Governors of the Federal...more
Banking agencies are alleged to have exceeded their congressional authorization, with potentially adverse consequences on banks and consumers.
On February 5, 2024, several banking trade groups[1] (the Plaintiffs) sued...more
The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in venture lending.
On November 1, 2023, the Office of the Comptroller of the Currency...more
11/29/2023
/ Banking Crisis ,
Banking Sector ,
Commercial Loans ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Lenders ,
New Guidance ,
OCC ,
Risk Management ,
State Charters
Guidance for the largest US financial institutions is intended to promote climate risk management consistent with general safety and soundness practices.
On October 30, 2023, the three US federal bank regulatory agencies...more
11/8/2023
/ Banking Sector ,
Biden Administration ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Executive Orders ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
New Guidance ,
OCC ,
Policies and Procedures ,
Risk Assessment ,
Risk Management ,
Strategic Planning
A new program addresses innovative banking activities such as bank-fintech partnerships and digital assets while reinforcing guardrails around stablecoin activity.
On August 8, 2023, the Board of Governors of the Federal...more
8/16/2023
/ Banking Sector ,
Banks ,
Compliance ,
Digital Assets ,
Enforcement Programs ,
Federal Reserve ,
Financial Institutions ,
FinTech ,
FRB ,
Risk-Based Approaches ,
Stablecoins
After a lengthy “holistic” review and a spring banking crisis, US bank capital requirements finally face overhaul.
On July 10, 2023, US Federal Reserve Board (FRB) Vice Chair for Supervision Michael Barr delivered a...more
7/21/2023
/ Banking Crisis ,
Banking Sector ,
Basel III ,
Capital Requirements ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Global Systemically Important Banks (G-SIBs) ,
Proposed Amendments ,
Risk Assessment ,
Risk Mitigation ,
SIFMA ,
Stress Tests
The guidance outlines principles and key considerations for banking organizations as they navigate risks associated with third parties, including fintechs.
On June 6, 2023, the Federal Deposit Insurance Corporation...more
6/23/2023
/ Banking Sector ,
FDIC ,
Financial Institutions ,
FinTech ,
FRB ,
Interagency Guidance ,
OCC ,
Risk Management ,
Third-Party ,
Third-Party Relationships ,
Third-Party Risk
The legislation mirrors anti-“industry boycott” legislation introduced or passed in other US states and provides more explicit rubrics of prohibited factors.
On May 5, 2023, Florida Governor Ron DeSantis signed into law...more
Congress will be “starting from scratch” in attempting to establish a regulatory framework for stablecoins — an issue that many believe is the top digital asset legislative priority.
On April 15, 2023, the US House...more
President Biden is calling for tougher standards and supervision for large regional banks in the wake of recent instability in the US banking sector.
On March 30, 2023, the White House issued a Fact Sheet calling on the...more
4/4/2023
/ Banks ,
Biden Administration ,
Deregulation ,
Dodd-Frank ,
FDIC ,
Financial Institutions ,
FRB ,
OCC ,
Regulatory Agenda ,
Relief Measures ,
Trump Administration
The decisive action will mitigate emerging liquidity and solvency risks, contain pressure on the banking system, and protect depositors.
On March 12, 2023, the Board of Governors of the Federal Reserve System (Federal...more
The Acting Comptroller of the OCC discussed the limits of large bank manageability and the steps that regulators can take to address the risks posed by size and complexity.
On January 17, 2023, Acting Comptroller of the...more
Banking organizations should ensure appropriate risk management, but regulators are skeptical of certain crypto activities as principal.
On January 3, 2023, the Board of Governors of the Federal Reserve System (Federal...more
1/12/2023
/ Banking Regulators ,
Banking Sector ,
Cryptoassets ,
Cryptocurrency ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Joint Statements ,
OCC ,
Risk Assessment ,
Risk Management
The Guidance would increase expectations for regulated financial institutions to identify, measure, monitor, and control climate-related financial risks.
For the past few years, the New York State Department of Financial...more
The guiding principles are similar to related proposals from other banking regulators, but will require further clarification through the comment process.
On December 2, 2022, the Board of Governors of the Federal...more
12/12/2022
/ Climate Change ,
Comment Period ,
Corporate Governance ,
Federal Reserve ,
Financial Institutions ,
Foreign Banks ,
Governance Standards ,
Large Financial Institutions (LFIs) ,
Proposed Regulation ,
Risk Management ,
Risk-Based Approaches ,
Strategic Planning ,
Supervision
The Federal Reserve is taking measured steps to better understand the types of cryptoasset-related activities contemplated by its supervised banking organizations.
On August 16, 2022, the Board of Governors of the...more
8/25/2022
/ AML/CFT ,
Compliance ,
Consumer Protection Laws ,
Cryptoassets ,
Cryptocurrency ,
Cybersecurity ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Transactions ,
OCC ,
Risk Management ,
Supervision ,
Technology
The three US federal banking agencies continue to take additional steps to promote the functioning of the financial system in the face of the pandemic.
The three US federal banking agencies - the Board of Governors of the...more
4/10/2020
/ Accounting Standards ,
Brokered Deposits ,
Community Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Counterparty Risk ,
Credit Facilities ,
CSBS ,
Current Expected Credit Losses (CECL) ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Leverage Ratio ,
NCUA ,
OCC ,
Volcker Rule
The three US federal banking agencies have taken additional steps to enable the financial system to continue functioning during the pandemic.
The three US federal banking agencies — the Board of Governors of the Federal...more
3/25/2020
/ Banking Sector ,
Capital Requirements ,
Commercial Paper ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Emergency Response ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Markets ,
Liquidity ,
Money Market Funds ,
OCC
US lawmakers urge FSOC to designate cloud-based storage systems used by major banks as systemically important financial market utilities.
In an August 22, 2019, letter addressed to Treasury Secretary Steven Mnuchin, in his...more
9/5/2019
/ Amazon ,
Banking Sector ,
Cloud Storage ,
Dodd-Frank ,
European Central Bank ,
European Commission ,
Federal Reserve ,
Financial Institutions ,
Financial Markets ,
Financial Stability Board ,
FinTech ,
FSOC ,
Google ,
Legislative Agendas ,
Microsoft ,
Popular ,
Regulatory Oversight ,
Rule G-20
Comments submitted on the proposed regulations criticize the lack of a risk-based approach, overbroad definitions, potential extraterritorial implications, an excessive breach notification threshold and a daunting annual...more
Final regulations impose certification requirements on a financial institution’s Board of Directors or Senior Officer(s) relating to BSA/AML and OFAC compliance.
The New York State Register today published the final...more
7/21/2016
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Board of Directors ,
Certification Requirements ,
Compliance ,
Corporate Executives ,
Final Rules ,
Financial Institutions ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Suspicious Activity Reports (SARs) ,
Training Requirements
If adopted, the Proposed Rule would have a significant impact on compensation practices at covered institutions.
On April 21, 2016, the National Credit Union Administration (the NCUA) issued a proposed rule regarding...more
5/5/2016
/ Board of Directors ,
Clawbacks ,
Comment Period ,
Compensation Committee ,
Corporate Executives ,
Disclosure Requirements ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
FHFA ,
Financial Crisis ,
Financial Institutions ,
Forfeiture ,
Incentive Compensation ,
NCUA ,
OCC ,
Proposed Regulation ,
Recordkeeping Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Vesting
Proposed regulations impose new certification requirements that could result in personal liability for compliance officers of financial institutions.
On December 1, 2015, the New York State Department of Financial...more