Banking Examinations

News & Analysis as of

Member Of The Federal Reserve’s Board Of Governors Notes Benefits Of Consistent Cybersecurity Exam Approaches

On June 24, 2016, in a response letter to Senator Dean Heller (R-NV), Daniel Tarullo, a member of the Board of Governors of the Federal Reserve System, highlighted the benefits of consistent cybersecurity supervisory...more

[Webinar] The State of Mortgage Examinations - June 29th, 1:00p.m. EDT

With changing federal regulations, all eyes naturally focus on the Consumer Financial Protection Bureau’s (CFPB) latest activity. However, the CFPB will conduct less than 30 origination examinations by the end of this year,...more

Joint Interim Final Rule Published Relating to Expanded Examination Cycle Eligibility

On March 24, 2016, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC) issued and are requesting public comment on an...more

Nutter Bank Report - February 2016

The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group. Headlines 1. CFPB Issues FCRA Compliance Guidance for Furnishers of Consumer Information 2. Joint Advisory...more

The Financial Report - Volume 5, No. 4 - February 2016 (Global)

A recent federal district court decision and a proposed New York State Department of Financial Services regulation have further expanded the risk of liability for chief compliance officers, this time in the context of...more

Financial Regulatory Developments Focus - March 2016

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Revised Comptroller’s Handbook Country Risk Management Booklet

On February 12, the Office of the Comptroller of the Currency (OCC) issued the “Country Risk Management” booklet of the Comptroller’s Handbook. This revised booklet replaces the booklet of the same title issued in March 2008....more

Federal Banking Agencies Expand Number of Banks Qualifying for 18-Month Examination Cycle

On February 19, federal banking agencies increased the number of small banks and savings associations eligible for an 18-month examination cycle rather than a 12-month cycle. The changes are intended to reduce regulatory...more

Corporate and Financial Weekly Digest - Volume XI, Issue 8

BROKER-DEALER - FINRA Requests Information Regarding Firm Culture and Values - The Financial Industry Regulatory Authority is requesting firms to submit information regarding their organizational culture and how...more

Financial Regulatory Developments Focus - February 2016 #3

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

US Federal Banking Agencies Issue Interim Final Rules Allowing More Banks and Savings Associations to Qualify for 18-Month...

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly issued interim final rules that will allow certain well-capitalized...more

Nutter Bank Report - January 2016

The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group. Headlines - 1. CFTC Issues Relief from Swap Clearing Requirements to Small Holding Companies 2. Federal...more

The Financial Report - Volume 5, No. 1 January 2016 (Global)

Discussion and Analysis Richard Ketchum, Chairman and CEO of the Financial Industry Regulatory Authority, announced in FINRA’s 11th annual Regulatory and Examination Priorities Letter, published earlier this week, that...more

New Bank Examination Procedures for Cybersecurity

There is no more pressing problem facing business organizations today, of all types, than cybersecurity threats. For a highly regulated industry like banking, regulators are watching closely to see how the IT governance...more

Tougher Scrutiny on Cybersecurity at Banks in 2016

Cybersecurity has been a focus as part of bank exams for years. Now the Federal Deposit Insurance Corp. (FDIC) is increasing its scrutiny of banks’ cybersecurity practices to ensure that the issue is getting appropriate...more

Federal Reserve Issues Guidance on Waiving of Examinations Prior to Membership or Merger Into a State Member Bank

On October 13, the Board of Governors of the Federal Reserve System (Board) issued guidance that applies to insured depository institutions that are seeking to become state chartered member banks of the Federal Reserve System...more

Corporate and Financial Weekly Digest - Volume X, Issue 42

SEC/CORPORATE - ISS Releases 2016 Draft Voting Policy Changes for Comment - On October 26, Institutional Shareholder Services (ISS), a leading proxy advisory firm, released for comment draft voting policy changes...more

Financial Regulatory Developments Focus - October 2015 #3

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

FinCEN Proposes AML Requirements for Registered Investment Advisers

The Financial Crimes Enforcement Network (FinCEN) has proposed long-expected regulations that would extend anti-money laundering (AML) requirements to federally registered investment advisers (RIA). The August 25, 2015...more

FFIEC Tool Helps You Assess Cyber Risk

The Federal Financial Institutions Examination Council (FFIEC) has released its long-awaited Cybersecurity Assessment Tool (Assessment) to help financial institutions identify the inherent risks faced by a company and...more

The Financial Report (Global) - Volume 4, No. 1 • January 2015

News from the Americas - Non-bank SIFI designated. The US Financial Stability Oversight Council designated MetLife Inc. as a systemically important non-bank financial institution. (12/19/2014) Treasury Department press...more

Observation 2.0: The Anti-Evasion Provision of the Volcker Rule

Overview This Client Alert continues Pepper’s observations on the Volcker Rule. Critical attention should be paid to the Volcker Rule’s anti-evasion provision, a powerful tool granted by Congress to the regulatory agencies to...more

The New York State Department Of Financial Services (“DFS”) Issues Industry Guidance Letter To DFS-Regulated Banks

On December 10, the DFS issued an industry guidance letter to all New York DFS-regulated banks announcing new targeted DFS cyber security preparedness assessments. The new cyber security assessments will become part of all...more

New York Department of Financial Services Unveils “New Cyber Security Examination Process”: Five Key Takeaways

On December 10, 2014, Superintendent Benjamin Lawsky of the New York Department of Financial Services (the “DFS”) announced a “New Cyber Security Examination Process” (the “New Examination Process”) for New York-chartered and...more

FFIEC Releases Revised BSA/AML Examination Manual

The Federal Financial Institutions Examination Council (FFIEC) has released its revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. The revisions clarify supervisory expectations and incorporate...more

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