Consumer Finance Monitor Podcast Episode: What is FedNow and its Role in the U.S. Payments System?
Regulators Tackle Board Effectiveness and Overdrafts
Convenience vs. Compliance: Behavior-Driven Marketing of Credit Products
Selling Your Mission to Shareholders
An industrial bank or industrial loan company (each, an ILC) charter can be an attractive option for a financial technology company (fintech) or other company seeking to enter the banking space. In June 2024, the Federal...more
The three US federal banking agencies continue to take additional steps to promote the functioning of the financial system in the face of the pandemic. The three US federal banking agencies - the Board of Governors of the...more
Federal Banking Agencies Adopt Simplified Capital Calculation for Community Banks The federal banking agencies have issued a final rule that will simplify capital requirements for community banks by allowing them to adopt...more
Federal financial regulators issued a rule excluding community banks from the Volcker Rule regulations. This rule conforms the regulations to similar statutory changes enacted in May 2018. On July 9, 2019, the Board of...more
Last week, federal regulators finalized a rule to exempt community banks from proprietary trading at banks. In addition, the revised rule will also allow certain hedge funds or private equity funds to share the same name or...more
Yes. The Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA) provided significant regulatory relief for community banks, including broad relief from the Volcker Rule’s prohibition on proprietary...more
FDIC Approves 3-Year Phase-In for Adverse Effects on Capital from CECL - The FDIC has approved a final rule that will provide banks with the option to phase in over a three-year period the day-one adverse effects on...more
• The Economic Growth, Regulatory Relief and Consumer Protection Act (the Act), which engendered substantial bipartisan support and was recently signed into law by President Donald Trump, amends parts of the Dodd-Frank Wall...more
In the early evening of May 22, 2018, the U.S. House of Representatives approved the Economic Growth, Regulatory Relief and Consumer Protection Act (the Act), paving the way for certain signature by the President. The House...more
On March 14, 2018, the Senate passed, 67-31, the Economic Growth, Regulatory Relief and Consumer Protection Act, or S. 2155. While it may lack a catchy name, its substance is of potentially great importance to community...more
In November 2016, with the election results confirmed, the banking industry was awash in hopes for a more lenient regulatory posture. To date, the industry has seen no reform. However, on March 14, 2018, the Senate passed and...more
"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
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
SEC Proposals to Enhance Investment Company and Investment Adviser Reporting: As we went to press, the SEC commissioners announced that they had voted to approve two proposals. The first was for new and amended rules and...more
The Office of the Comptroller of the Currency, or OCC, has issued a short bulletin on compliance with the Volker Rule. While largely a short restatement of the rule, it contains this note for community banks...more
In Observation 1.1.1, we discussed the surprise treatment under the new Volcker Rule regulations of collateral debt obligations (CDOs) backed by trust preferred securities (TruPS) as “covered funds,” which would force banking...more
Community Banks and the Volcker Rule: What’s Next? - For now, banks that have investments in CDO securities that are issued by funds that are invested in trust preferred securities (TruPS CDOs) have dodged a bullet. On...more
Interim final rule exempts collateralized debt obligation vehicles that hold qualifying community bank trust preferred securities from the private fund sponsorship and investment prohibitions....more
In the latest installment of the Volcker Rule’s collateralized debt obligation-trust preferred securities (CDO-TruPS) controversy, on January 8, two House Financial Service Committee members introduced a bill to exempt...more
On December 10, 2013, the federal banking agencies jointly issued final regulations to implement the “Volcker Rule,” added to the Bank Holding Company Act by Section 619 of the Dodd-Frank Act, to prohibit banking entities and...more
The banking industry’s recent challenge to the newly promulgated Volcker Rule focuses on collateralized debt obligations backed by trust-preferred securities (TruPS CDOs). Even though TruPS CDOs do not represent the kind of...more