The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain... more +
The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships.
Too Big To Fail in the Dodd-Frank Era
The New Normal: Taking Responsibility for Your Vendors
The SEC Proposed Money Market Fund Reforms - On Wednesday, June 5, 2013, the Securities and Exchange Commission (the “SEC”) voted unanimously to propose rules that would reform the way that certain money market funds...more
In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - CRIMINAL...more
In this issue: - CFTC Expands List of Acceptable Legal Entity Identifiers - CFTC Delays Effective Date for Clearing Exemption for Swaps Between Affiliates - “Sophisticated Plaintiff” Found to Be Adequate...more
The CFPB and Federal Deposit Insurance Corporation have jointly launched a new financial resource tool to assist older adults and their caregivers in avoiding elder financial exploitation. Named “Money Smart for Older...more
On May 31, the FDIC announced enforcement actions against a California bank and an affiliated service provider for alleged unfair and deceptive practices in the marketing and servicing of a prepaid reloadable MasterCard. ...more
On June 4, during a board meeting, the FDIC approved a final rule to establish criteria for determining if a nonbank is predominantly engaged in “activities that are financial in nature or incidental thereto” and, as such,...more
On June 6, the FDIC released a report which discusses the credit risk assessments that banks must now apply to investment portfolios....more
On June 4, the FDIC adopted a final rule which establishes the criteria for determining if a company is engaged in “activities that are financial in natural or incidental thereto” for purposes of being subject to the orderly...more
The Federal Trade Commission recently brought an enforcement action against a company that processed credit card payments for the operator of an alleged debt relief telemarketing scam. This action serves as a reminder to...more
In This Issue: SEC Proposed Rule on Money Market Reforms; FDIC Final Rule on Orderly Liquidity Authority; FDIC Credit Risk Assessment Report; CFTC No-Action Relief; CFPB Exam Procedures for New Mortgage Rules; Rating Agency...more
In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; International; and Upcoming Hearings. Excerpt from Leading the Past Week - And the beat goes on… Another week with the White...more
In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - PRIVACY/DATA SECURITY -...more
The Federal Reserve on Wednesday, June 5, issued an interpretation of the so-called “swaps push-out” section of the Dodd-Frank Act that corrects a drafting error that virtually everyone agrees needed to be fixed. The Federal...more
In This Issue: - Taxpayer Relief Act of 2012 - Tax Planning for the “New Normal” - HIPAA: Not Just for Health Care - ADA Requirements for Pools - Impact of Dodd-Frank Swap Regulations on Loan Documents -...more
On May 23, the OCC, the FDIC, and the Federal Reserve Board published a notice to delay certain proposed changes to Call Report data collection pending further consideration of whether and how to proceed with the changes....more
In the immediate aftermath of the crisis, it’s possible that those who identified securitisation as a financing model, rather than loan origination practices, as a principal cause of the crisis were all too ready to charge...more
As suggested by prior blog posts, I am no fan of the direction the CFPB, OCC and FDIC seem to be going with respect to payday and deposit advance loans. ...more
Last week, the FDIC, the OCC, Fannie Mae, and Freddie Mac issued guidance and information for banks, lenders, and servicers operating in areas impacted by recent tornadoes....more
May 31 (Bloomberg) -- Davis Polk Partner Randall Guynn speaks with Bloomberg Law's Lee Pacchia about how Dodd-Frank's orderly liquidation authority (OLA) gives lawmakers better choices when faced with the failure of complex...more
When a client walks into a bank he or she is bombarded with signs indicating that the funds deposited in the bank are insured by the FDIC. Even if the client does not fully comprehend what that means, the signs offer the...more
On May 15, James R. Wigand, Director, Office of Complex Financial Institutions of the Federal Deposit Insurance Corporation (FDIC) testified before the U.S. Senate Subcommittee on National Security and International Trade and...more
On May 8, an economic and financial analysis and consulting firm issued a report that indicates the FDIC is on pace to file more suits against bank directors and officers in 2013 than it has in any year since the start of the...more
In this issue: - CFTC Adopts Final Rules for Execution Facilities and Other Matters - FINRA Issues Interpretive Guidance on Use of Back Tested Index Data by ETPs - Mississippi District Court Defers to New...more
On April 30, the OCC and the FDIC announced parallel enforcement actions against a national bank and an affiliated state bank to resolve allegations that the institutions violated Section 5 of the FTC Act in their marketing...more
On April 25, the Federal Reserve Board issued a policy statement on deposit advance products. The statement came on the same day that the OCC and the FDIC proposed more formal guidance for such products....more
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