News & Analysis as of

Federal Deposit Insurance Corporation › Corporate Counsel

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.  less -
K&L Gates LLP

FRB, FDIC Deliver Reports and Take Some Blame on Silicon Valley Bank and Signature Bank Failures; More Regulation Ahead

K&L Gates LLP on

On Friday 28 April 2023, the Board of Governors of the Federal Reserve System (the FRB) and the Federal Deposit Insurance Corporation (the FDIC) each released a report regarding a recent bank failure. The FRB report covered...more

Skadden, Arps, Slate, Meagher & Flom LLP

An Introduction to the Unique Issues in Bank Holding Company Bankruptcies

Skadden, Arps, Slate, Meagher & Flom LLP on

On March 17, 2023, the parent of Silicon Valley Bank (SVB) filed for Chapter 11 protection in the Southern District of New York. Unlike SVB itself, its parent, as a bank holding company, was eligible for Chapter 11. In the...more

Morrison & Foerster LLP

Navigating Contracts with FDIC Receiverships and Bridge Banks

Morrison & Foerster LLP on

In the wake of two bank failures last week, the Federal Deposit Insurance Corporation (“FDIC”) was appointed as receiver for each failed bank (“Receiver”). The Receiver subsequently transferred all deposits (both insured and...more

King & Spalding

Bank Failures May Raise CFIUS Issues

King & Spalding on

Companies need to be aware of filing requirements before taking foreign money - On March 14, 2023, after a week of three bank failures that marked the largest such crisis since 2008, policymakers continued seeking private...more

BCLP

More good news for depositors of Silicon Valley Bank and Signature Bank

BCLP on

Here is the latest regarding the former Silicon Valley Bank of Santa Clara, California (“SVB”) and Signature Bank of New York, NY (“SB”) as of Monday, March 13, 2023 according to the FDIC and other regulators. We expect to...more

Hogan Lovells

Silicon Valley Bank (SVB) FAQs

Hogan Lovells on

Silicon Valley Bank (SVB), the US’s 16th largest bank, was closed on Friday, March 10, 2023, by the California Department of Financial Protection and Innovation which appointed the Federal Deposit Insurance Corporation (FDIC)...more

Goodwin

FAQ About the Silicon Valley Bank Situation in the US

Goodwin on

What happened to Silicon Valley Bank (SVB) on March 10? ..The California Department of Financial Protection and Innovation took possession of SVB on Friday morning, March 10, 2023, and appointed the Federal Deposit...more

Morrison & Foerster LLP

Analyze This: The NYDFS Sets Clear Crypto Transaction Monitoring Expectations

Morrison & Foerster LLP on

The past year has seen a flurry of crypto-related activities by the federal financial regulators, including the issuance of reports, guidance, joint statements, and interpretive letters....more

Balch & Bingham LLP

Financial Regulators Issue New Cyber Incident Reporting Rule for U.S. Banks and Service Providers

Balch & Bingham LLP on

On November 18, 2021, the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) approved a new final rule regarding reporting of cyber incidents for U.S. banks...more

Burr & Forman

5th Circuit Hints SEC ALJs Unconstitutional

Burr & Forman on

In an Opinion highlighting the Circuit split over the constitutionality of SEC administrative law judges (“ALJs”), the Fifth Circuit recently stayed an FDIC civil-penalty and bar order against a Bank director, pending...more

Parker Poe Adams & Bernstein LLP

Focus on Incentive Pay Practices?: A Message from the Regulators

Parker Poe Adams & Bernstein LLP on

Incentive pay is an important part of compensation packages. It allows employers to reward those employees who perform well (and show those employees who do not that under-performing will have negative consequences). ...more

Manatt, Phelps & Phillips, LLP

Eighth Circuit Refuses to Open Golden Parachute for Bank Exec

Manatt, Phelps & Phillips, LLP on

A new decision from the Eighth Circuit Court of Appeals reaffirms the challenge presented by the Federal Deposit Insurance Corporation (FDIC) "golden parachute" prohibitions for boards of directors of banks in "troubled...more

Goodwin

Must-Know D&O: Lessons from FDIC Guidance and Case Law on D&O Insurance

Goodwin on

The Federal Deposit Insurance Corporation (FDIC) recently warned financial institutions that it has observed an increase in exclusionary terms contained in the director and officer (D&O) insurance policies of depository...more

Bradley Arant Boult Cummings LLP

FDIC Bars Financial Institutions from Purchasing Insurance Coverage for Civil Monetary Penalties for Directors and Officers: FDIC...

Bradley Arant Boult Cummings LLP on

We recently notified you of the FDIC’s Financial Institution Letter 47-2013 , which urges directors and officers of financial institutions to examine their institutions’ directors and officers (D&O) insurance coverage to...more

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