News & Analysis as of

Community Banks Dodd-Frank Wall Street Reform and Consumer Protection Act

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

by Jones Day on

"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

OCC won’t allow fintech national bank charters for commercial firms, addressing potential Walmart fintech bank concerns

by Thompson Coburn LLP on

The Office of the Comptroller of the Currency issued guidance this week stating that it will not approve any fintech national bank application that would “inappropriately commingle banking and commerce,” citing potential...more

NAFCU urges regulatory relief for credit unions in letter to Secretary of the Treasury Mnuchin

by Ballard Spahr LLP on

On February 28, 2017, B. Dan Berger, President and Chief Executive Officer of the National Association of Federally-Insured Credit Unions (the “NAFCU“), urged regulatory relief for credit unions in a letter submitted to the...more

A Secretary of the Treasury who understands Main Street and Wall Street?

by Ruder Ware on

Last week, Steven Mnuchin, President Donald Trump’s nominee to run the Treasury Department faced a nearly six-hour grilling by Senate Finance Committee Republicans and Democrats, alike. The former Goldman Sachs executive was...more

Dodd-Frank and Other Laws Facing Indefinite Future in 2017

As 2017 begins, financial markets and the regulators that oversee them are facing significant uncertainty. When President-elect Donald Trump assumes the Oval Office on Jan. 20, all indications suggest that it will mark a...more

Nutter Bank Report, September 2016

The Federal Reserve Board has released a policy statement that details the framework it will follow in setting the Countercyclical Capital Buffer (“CCB”) for private-sector credit exposures located in the United States. The...more

Director Cordray Responds To Letter from Senators Seeking Tailored Rulemaking for Community Banks and Credit Unions

by Ballard Spahr LLP on

Last month, a bipartisan group of 70 senators were signatories to a letter sent to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray urging the CFPB to “carefully tailor its regulations to match the unique...more

Director Cordray responds to letter from Senators seeking tailored rulemaking for community banks and credit unions

by Ballard Spahr LLP on

Last month, a bipartisan group of 70 Senators were signatories to a letter sent to Director Cordray urging the CFPB to “carefully tailor its regulations to match the unique nature of community banks and credit unions.” In...more

Community Banks Win Exemption From Dodd-Frank Margin Requirements

by McGuireWoods LLP on

Community banks and other small financial institutions will not have to post margin for their noncleared swap transactions. On August 1, 2016, the Federal Reserve Board, the Office of the Comptroller of the Currency, the...more

Economies of Scale Encourage Continued Consolidation

by Bryan Cave on

The Federal Reserve Bank of St. Louis just published a short summary of research by economists with the Federal Reserve Bank of Kansas City concluding that compliance costs weigh “quite a bit” more heavily on smaller banks...more

What Community Banks of All Sizes Need to Know About the Proposed Interagency Rulemaking on Incentive Compensation

by Balch & Bingham LLP on

The federal banking supervisors have jointly published 285 pages of proposed rules on incentive-based compensation practices, as required by the Dodd-Frank legislation enacted in 2010. The proposed rules only apply to banks...more

Nutter Bank Report, April 2016

The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group. Headlines 1. FDIC Approves Proposed Rule to Limit Incentive-Based Compensation Arrangements 2. Congress Considers...more

Too Small to Succeed or Ownership Structure to Thrive?

by Bryan Cave on

Two recent federal banking agency reports show very different pictures of the banking environment for community banks. In “Too Small to Succeed? – Community Banks in a New Regulatory Environment,” the Federal Reserve Bank of...more

Reports Emanate From Washington That Financial Regulators Poised To Promulgate New Restrictions On Community Bank Executive...

by Locke Lord LLP on

In June of 2010 bank regulatory agencies issued final guidance relating to incentive compensation arrangements at all financial institutions. Shortly thereafter in July, President Obama signed into law the Dodd-Frank Act....more

Community Banks Face Ever-Increasing Compliance Burden As a Result of Dodd-Frank Rules

According to a “Dodd-Frank Regulations Impacts on Community Banks, Credit Unions and Systematically Important Institutions” report recently released by the Government Accountability Office (GAO), community banks continue to...more

Financial Services Weekly News - January 2016

by Goodwin on

Regulatory Developments - CFPB Responds To Industry’s TRID Implementation Concerns: On Dec. 29 the CFPB responded to a letter by the Mortgage Bankers Association (MBA) from Dec. 21. The MBA letter asked the CFPB to...more

GAO Report Addresses Impact of Dodd-Frank on Community Banks, Credit Unions and Systemically Important Institutions

The Government Accountability Office, or GAO, has released an annual report required by the Dodd-Frank Act. GAO interviewed community banks, credit unions, and industry associations. Those interviewed cited an increase in...more

How Bad is Dodd-Frank for Community Banks?

Congress passed the Dodd-Frank Act in June and July 2010 with minimal Republican support, and it was signed by President Obama July 21, 2010. Since passing, Dodd-Frank has been hailed, depending on who answers, as salvation...more

Community Banking Excellence - Third Quarter 2015

In This Issue: - Another Perspective: David Barksdale, President and Chief Executive Officer, Carolina Premier Bank: For the past several months, David Barksdale has been leading the charge at Carolina Premier...more

Dodd-Frank Overkill—Community Bank M&A Deals Must Not Pose a Risk to U.S. Financial Stability

Why it matters - With their recent approvals of BB&T’s acquisition of a $2 billion community bank, the Federal Reserve Board of Governors (Federal Reserve) and the Federal Deposit Insurance Corporation (FDIC) were...more

Senator Shelby Moves Forward with Major Dodd-Frank Reforms

On May 12, 2015, U.S. Senator Richard Shelby (R-Ala.), Chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs, released the text of draft legislation intended to reform the regulatory framework...more

Banking & Financial Services E-Note - April 2015

by Burr & Forman on

In This Issue: - Insuring Against Data Breaches - Plaintiff in Foreclosure Action Snared by Evidence of Damages, Attorneys' Fees & Costs - Dodd-Frank Act Update April 2015 Edition - Bond Financing:...more

Financial Services Weekly News Roundup - February 2015 #3

by Goodwin on

The Impact of Regulation on Community Banks: Harvard Study and Senate Banking Committee Hearing Highlight Differing Views. FDIC Director of Risk Management Supervision Doreen Eberley testified last week before the Senate...more

Banking & Financial Services E-Note - July 2014

by Burr & Forman on

In This Issue: - New Rule Will Require Banks to Provision for Bad Loans Earlier - Four Years After Dodd-Frank, Law Still Unfinished - Senate Panel to Review Borrowing of 'Too Big to Fail' Banks - Community...more

Dodd-Frank News - March 2014: Dodd-Frank Wall Street Reform And Consumer Protection Act Update

by Burr & Forman on

In This Issue: - Recent Cases January Through March 2014 ..Dodd-Frank Amendments to RESPA ..Dodd-Frank Prohibition on Arbitration Clauses ..Whistleblower Protection Under Dodd-Frank - News &...more

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