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Banks Brokered Deposits

Cooley LLP

FDIC’s Proposed Brokered Deposit Rule Could Adversely Impact Fintech-Bank Partnerships

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In late July 2024, the Federal Deposit Insurance Corporation (FDIC) board of directors proposed a rule that would revise its standards on banks accepting brokered deposits. The proposed rule would expand the definition of...more

Troutman Pepper

Brokered Deposits Rule Threatens to Upend Bank Balance Sheets

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“In the worst case, these [newly designated brokered deposits] will have to get offloaded in a way that potentially puts those banks at even greater liquidity risk, especially to the extent that they have a higher...more

Ballard Spahr LLP

Trade Groups Call on FDIC to Withdraw Brokered Deposit NPRM

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A group of 11 financial services associations is calling on the FDIC to withdraw its notice of proposed rulemaking intended to strengthen the prudential protections of the agency’s safety and soundness rule for brokered...more

Troutman Pepper

Bank Allies Say FDIC Brokered Deposit Plan Reflects Outdated Thinking

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“Hot money” – as it was later dubbed – was viewed by skeptics as one of the major causes of the savings and loan crisis of the 1980s....more

Orrick, Herrington & Sutcliffe LLP

FDIC issues NPRM on brokered deposits

On July 30, the FDIC released an NPRM that would provide restrictions, update definitions, and provide new exceptions to the rule on brokered deposits. The FDIC explained that these proposed amendments would simplify...more

Troutman Pepper

Turning Back the Clock: FDIC Proposes Significant Changes to 2020 Brokered Deposit Rule

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On July 30, 2024, the FDIC proposed substantive changes to the 2020 Brokered Deposit Rule (2020 Rule) that, if finalized, could meaningfully impact a wide group of bank and nonbank stakeholders who rely on the current rule’s...more

Ballard Spahr LLP

FDIC Proposes Revisions to Broker Deposits Rule

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The FDIC board on July 30 approved a notice of proposed rulemaking intended to strengthen the prudential protections of the agency’s safety and soundness rule for brokered deposits (12 CFR 337.6)....more

Nelson Mullins Riley & Scarborough LLP

[Webinar] Brokered Deposits Best Practices for Bank Fintech Partnerships - July 25th, 11:00 am - 12:00 pm ET

You're Invited! Nelson Mullins invites you to a one-hour webinar entitled, "Brokered Deposits Best Practices for Bank Fintech Partnerships," on July 25. Partners Brad Rustin and Craig Nazzaro along with associate Marianna...more

Cadwalader, Wickersham & Taft LLP

New Guidance from the FDIC on Brokered Deposits Affects Insured Depository Institutions

On July 15, the Federal Deposit Insurance Corporation (“FDIC”) issued an updated Q&A regarding how companies involved in managing deposits can determine whether such deposits should be considered brokered, and/or whether they...more

Seward & Kissel LLP

FDIC Staff Issues Statement Requiring Banks to Scrutinize Primary Purpose Exception Notices

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On July 15, 2022, the Division of Risk Management Supervision (the “Staff”) of the Federal Deposit Insurance Corporation (“FDIC”) published a two-page statement (the “Statement”) “to remind” insured depository institutions...more

Alston & Bird

FDIC Approves Final Rule on Brokered Deposits

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Our Financial Services & Products Group unpacks the Federal Deposit Insurance Corporation’s most significant changes to brokered deposit regulations since 1989....more

Troutman Pepper

FDIC’s Final Rule on Brokered Deposits Adds Clarity to Fintech Partnerships and Other Common Arrangements

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On December 15, the Federal Deposit Insurance Corporation (FDIC) issued a final rule (Final Rule) establishing a new framework for analyzing whether bank deposits obtained through third-party arrangements are brokered...more

Nutter McClennen & Fish LLP

Bank Report: December 2019

FDIC and OCC Propose CRA Modernization Rule with Opt-Out for Small Banks The FDIC and the OCC have jointly proposed amendments to modernize the agencies’ Community Reinvestment Act (“CRA”) regulations, which are intended...more

Robins Kaplan LLP

Financial Daily Dose 12.16.2019 | Top Story: Boeing Execs Mull Halting 737 Max Production as FAA Clearance Stalls

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Boeing’s 737 MAX faces an uncertain future. Boeing is considering at least a temporary halt to its 737 Max production “as regulatory clearance for the grounded jet’s return looks increasingly likely to slip beyond January...more

Polsinelli

House Subcommittee Supports Revised Treatment of Reciprocal Deposits

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On Tuesday, a bipartisan group of legislators expressed their support for a bill (H.R. 4116) that would attempt to codify and expand a measure regarding reciprocal deposits that was included in FDIC’s final rule on small bank...more

Nutter McClennen & Fish LLP

Nutter Bank Report, November 2015

The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group. Headlines - 1. DOB Revises Guidance on Branch and Main Office Notices and Applications - 2. FDIC Updates...more

Katten Muchin Rosenman LLP

FDIC Issues Private Letter to Elaborate on Brokered Deposit FAQ

On February 4, representatives of the Federal Deposit Insurance Corporation (FDIC) sent a letter to David Hanrahan, the president and CEO of Capital Bank of New Jersey, in which they elaborated on a particular question and...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest - Volume X, Issue 6

In this issue: - SEC Publishes Rules for Reporting Security-Based Swaps - SEC Proposes Rules for Disclosure of Companies’ Hedging Policies - CFTC Extends Relief From Certain OCR Requirements - NFA...more

Manatt, Phelps & Phillips, LLP

FDIC Releases FAQ on Brokered Deposits

Why it matters - The Federal Deposit Insurance Corporation (FDIC) started 2015 by releasing new FAQs for brokered deposits, which address issues such as the definition of a “deposit broker” and when the “primary...more

Katten Muchin Rosenman LLP

FDIC Releases Guidance on Brokered Deposits in the Form of FAQs

On January 5, in its second Financial Institution Letter of 2015, the Federal Deposit Insurance Corporation (FDIC) released guidance in the form of frequently asked questions (FAQs) with respect to identifying, accepting and...more

Dickinson Wright

FDIC Highlights Brokered Deposits

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At the start of 2015, the Federal Deposit Insurance Corporation ("FDIC") has issued new guidance for banks and other insured depository institutions ("banks") regarding brokered deposits. In a series of frequently asked...more

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