News & Analysis as of

Community Banks Federal Deposit Insurance Corporation

Analysis of FDIC v. Loudermilk Decision

by Bryan Cave on

The FDIC’s lawsuit against former directors and officers of the failed Buckhead Community Bank, one of the most closely watched Georgia corporate governance cases in years, went to trial in October, 2016. The jury returned a...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

Community banks trade group asks Trump Administration to curb fair lending enforcement

by Ballard Spahr LLP on

The Independent Community Bankers of America issued a statement calling on the Trump administration “to rein in the overzealous application of fair lending laws.” ICBA stated that community banks are threatened by a recent...more

2017 Resolutions for Community Banks: A Focus on Cybersecurity

by Hogan Lovells on

In December 2016, Thomas Curry, the Comptroller of the Currency, stated that cybersecurity was the single greatest systemic threat to our financial system. He was not being hyperbolic. Cybersecurity should be on...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Prohibition on Dealing or Investing in Industrial or Commercial Metals - On January 3, 2017, the Office of the Comptroller of the Currency (the "OCC") finalized a rule that...more

Regulators’ Christmas Gift to Banks: 18-Month Examination Cycle

by Ruder Ware on

Earlier this month, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued final interagency rules which will reduce regulatory...more

Starting a New Bank

by Bryan Cave on

On November 29, 2016, the FDIC, as part of its Community Banking Initiative, held an outreach meeting in Atlanta. While the FDIC has indicated that it will publish a handbook regarding applications for deposit insurance in...more

Jurors Hit Failed Bank Directors With $5M Verdict

A federal jury in Georgia awarded almost $5 million to the Federal Deposit Insurance Corporation (FDIC) in one of the few suits against the directors of a failed bank that made it all the way to trial. What happened...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

US Federal Deposit Insurance Corporation Chairman Gruenberg Remarks on Banking Industry Consolidation and the Prospect of De Novo...

by Shearman & Sterling LLP on

US Federal Deposit Insurance Corporation Chairman Martin J. Gruenberg discussed the consolidation of community banks, noting that while many of the smallest (with assets less than $100 million) have either consolidated or...more

US Federal Deposit Insurance Corporation Vice Chairman Hoenig Discusses a Framework for Tailored Supervision

by Shearman & Sterling LLP on

US Federal Deposit Insurance Corporation Vice Chairman Thomas M. Hoenig discussed the decline of traditional community banks over the last thirty years and the resulting concentration of the US financial system in a few large...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

FDIC Provides Corporate Governance Guidance to Community Banks

The FDIC issued a special edition of Supervisory Insights, “A Community Bank Director’s Guide to Corporate Governance: 21st Century Reflections on the FDIC Pocket Guide for Directors.” This special corporate governance...more

FDIC’s Corporate Governance Guidance Reinforces Board of Directors’ Role in Cybersecurity Preparedness

by Balch & Bingham LLP on

The Federal Deposit Insurance Corporation has long considered a community bank’s board of directors as one of the most important elements in the successful operation of a bank. Nearly thirty years ago, the FDIC issued its...more

Financial Services Weekly News - April 2016

by Goodwin on

Regulatory Developments - DOL Issues Final Fiduciary Rule - On April 6, the Department of Labor (DOL) unveiled its pre-publication final version of the long-awaited fiduciary rule (the Final Rule). Some of the more...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

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

Financial Services Weekly News - December 2015 #2

by Goodwin on

Regulatory Developments - FINRA Proposes to Adopt Capital Acquisition Broker Rules - On Dec. 4 FINRA filed with the SEC a proposal to create a separate rule set that would apply to firms that meet the definition of...more

Bank Boards and Corporate Officers Review your Policies and Procedures: Business Judgment Rule Protections May Be Loosening

by Poyner Spruill LLP on

A recent decision from the Fourth Circuit, Federal Deposit Insurance Corporation v. Rippy, No. 14-2078 (4th Cir. Aug. 18, 2015), may signal a weakening of the business judgment rule’s long-standing protections for corporate...more

Financial Regulatory Developments Focus - June 2015 #4

by Shearman & Sterling LLP on

In This Issue: - Board of Governors of the Federal Reserve System Approves Final Rule Amending Regulation D - US Federal Banking Agencies Finalize Revisions to the Capital Rules Applicable to Advanced...more

FDIC Proposes New Premium Assessment System for Small Banks

On June 16, the Federal Deposit Insurance Corporation (FDIC) released a proposal to amend 12 CFR part 327 to refine the deposit insurance assessment system for small banks that have been federally insured for at least five...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

Financial Services Weekly News Roundup - June 2015 #3

by Goodwin on

Regulatory Developments - CFTC Provides No-Action Relief from Introducing Broker and Commodity Trading Advisor Registration to Non-U.S. Persons Who Advise on or Facilitate Swaps Transactions for Certain International...more

Comptroller Supports More CRA Credit for Small Business Lending while CRA Protests Continue to Stall M&A Deals

Why it matters - In recent remarks at the State Small Business Credit Initiative Conference, Comptroller of the Currency Thomas J. Curry discussed the state of small business credit programs, emphasizing the “crucial...more

OCC, FRB, and FDIC Push Ahead on Reducing Regulation of Community Banks

by Goodwin on

On May 4, 2015, Comptroller of the Currency Thomas Curry, Federal Reserve Board (FRB) Governor Daniel Tarullo, and Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg held the third in a series of outreach...more

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Cybersecurity

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