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Banks Proposed Regulation

Ogletree, Deakins, Nash, Smoak & Stewart,...

FDIC Closing in on Implementing the Fair Hiring in Banking Act With Proposed Regulations for Section 19

The Federal Deposit Insurance Corporation (FDIC) is close to finalizing revisions to regulations regarding Section 19 of the Federal Deposit Insurance Act to align them with the Fair Hiring in Banking Act (FHBA), which eased...more

Troutman Pepper

Washington D.C. Introduces Legislation Attacking Fintech-Bank Partnership Lending by Opting Out of DIDMCA and Codifying a “True...

Troutman Pepper on

Late last month, Councilmember Kenyan R. McDuffie introduced B 25-0609, entitled the Protecting Affordable Loans Amendment Act of 2023, that proposes to opt the District of Columbia out of sections 521-523 of the Depository...more

A&O Shearman

Regulatory monitoring: EU version - November 2023

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1. Bank regulation - 1.1 Prudential regulation - The ESRB has published a speech by Christine Lagarde, President of the ECB and Chair of the ESRB, on its first general warning about financial stability risks that it published...more

A&O Shearman

HM Treasury and PRA launch consultations on reforms to ring-fencing regime

A&O Shearman on

On 28 September, HM Treasury (the Treasury) and the Prudential Regulation Authority (PRA) published consultation papers on the proposed near-term reforms to ring-fencing measures... The Treasury also published its response to...more

Harris Beach PLLC

Proposed Regulation Would Force Banks to Issue Billions in Long-term Debt

Harris Beach PLLC on

Federal regulators are strongly considering requiring regional and mid-sized banks to issue billions of dollars in long-term debt to guard against more bank failures. This onerous requirement will be difficult and costly...more

Venable LLP

All Things Seen and Unseen: Bank Supervision and Enforcement After the Spring 2023 Bank Failures

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Besides being a shock to the market, the 2023 bank failures caused many to ask whether the federal banking agencies had done enough to prevent them. Precisely what the agencies should have done, or should do moving forward,...more

Seward & Kissel LLP

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

Seward & Kissel LLP on

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

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

Goodwin

Financial Services Weekly News: FDIC Releases Guide To Connect Fintechs With Banks

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) released a new guide to help financial technology companies and others partner with banks; the Financial Industry Regulatory Authority (FINRA) announced that it...more

Proskauer - Tax Talks

The Proposed BEAT Regulations

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On December 13, 2018, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (the “Treasury”) released proposed regulations (the “Proposed Regulations”) with respect to the “base erosion and anti-abuse...more

Eversheds Sutherland (US) LLP

BEAT, FATCA and Insurance - proposed regulations clarify the application of the BEAT and the treatment of insurance premiums under...

On December 13, 2018, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued two sets of proposed regulations of importance to insurance companies. One set was the long-awaited regulations...more

Alston & Bird

Certain Banks Qualify for the 20% Pass-Through Deduction

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Our Federal Tax Group highlights Section 199A and the IRS’s new proposed regulations that allow pass-through businesses to deduct up to 20% of their qualified business income....more

A&O Shearman

Allen & Overy's weekly update on Key Regulatory Topics - 8 June 2018 – 14 June 2018

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BREXIT - Please see the Payment Systems and Payment Services section for an update on the HoC’s European Scrutiny Committee thirtieth report of the 2017-19 parliamentary session....more

Jones Day

The Department of the Treasury Issues Recommendations on the Regulation of U.S. Depository Institutions

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"A Financial System that Creates Economic Opportunities: Banks and Credit Unions," a Report by the Department of the Treasury, identifies potential reforms that would promote the "Core Principles for Regulating the United...more

Bond Schoeneck & King PLLC

New York Institutions: Exemption from Cybersecurity Regulations Sought by Bond Granted in Final Regulations Issued by Department...

Last month, Bond, Schoeneck & King sought an exemption from cybersecurity regulations proposed by the New York State Department of Financial Services (DFS) for colleges, universities and other charitable organizations that...more

Manatt, Phelps & Phillips, LLP

New York's DFS Tweaks Proposed Cybersecurity Regulations

The New York Department of Financial Services (DFS) rang in the New Year by releasing changes to the agency's proposed cybersecurity regulations. What happened - On December 28, 2016, as the result of extensive...more

Kramer Levin Naftalis & Frankel LLP

New York State Department of Financial Services Modifies Proposed Cybersecurity Regulations and Pushes Implementation Date Back to...

On Dec. 28, 2016, the New York State Department of Financial Services (NYDFS) published a revised version of its “Cybersecurity Requirements for Financial Services Companies” (the “Regulations”). The revised Regulations...more

Patterson Belknap Webb & Tyler LLP

DFS Announces “Updated” Cybersecurity Regulation

Yesterday, the New York Department of Financial Services (DFS) announced an “updated” cybersecurity regulation that will go into effect on March 1, 2017. The updated regulation is, in many respects, less stringent than the...more

Proskauer on Privacy

Financial Industry Groups Criticize New York Department of Financial Services Cybersecurity Proposal

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As we previously reported, in September 2016 the New York Department of Financial Services (the “DFS”) proposed a regulation that would require banks, insurance companies and other financial services institutions regulated by...more

Patterson Belknap Webb & Tyler LLP

Sources Say: The DFS Will Delay Its New Cybersecurity Regulation

Yesterday, Reuters reported that the New York Department of Financial Services (“DFS”) will delay the effective date of its new cybersecurity regulation. According to a “person familiar with the matter,” the DFS will publish...more

Patterson Belknap Webb & Tyler LLP

Law Firms and Vendors Mandated to Up Their Cyber Game: Final Installment in a 3-Part Series

This is our final installment in a three-part series examining the New York State Department of Financial Services (“DFS”) new cybersecurity regulation.  In this installment, we provide an overview of the regulation’s impact...more

Patterson Belknap Webb & Tyler LLP

NYS Cyber Crack Down Looms: What Every Financial Institution, Insurer and Their Board Must Know

With the public comment period closing in a few days, the New York Department of Financial Services (DFS) “first in the nation” cybersecurity regulation is one step closer to becoming law. The regulation – which covers a...more

Snell & Wilmer

Cybersecurity Requirements Proposed for New York Financial Companies

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The New York Department of Financial Services has proposed new cybersecurity regulations “designed to promote the protection of customer information as well as the information technology systems of regulated entities...more

A&O Shearman

US Office of the Comptroller of the Currency Proposes Framework for Receiverships for Uninsured Federally Chartered National Banks

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The OCC issued a proposed rule setting forth a framework for placing uninsured national banks regulated by the OCC into receivership. While the National Bank Act and Federal Deposit Insurance Act specify the Federal Deposit...more

McNees Wallace & Nurick LLC

New York’s Proposed Cybersecurity Regulations Impose New Compliance Requirements on Financial Institutions and Insurance Companies

The New York State Department of Financial Services (NYSDFS) recently proposed new cybersecurity regulations for banks, insurance companies, and other financial institutions—the first regulations of their kind in the United...more

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