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Federal Deposit Insurance Corporation › Federal Reserve

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 -
Paul Hastings LLP

Daily Financial Regulation Update -- Monday September 16

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September 13, 2024 - The General Counsel of the CFPB delivered a speech to the Poverty Law Conference addressing the variety of consumer protection laws that protect impoverished individuals and how innovation and financial...more

Katten Muchin Rosenman LLP

Basel III Endgame: Will Banks Have to Increase Their Capital Requirements?

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On Tuesday, September 10, the Federal Reserve announced a reproposal of the much discussed and awaited Basel III Endgame. However, before we dive into the reproposal, it is important to take a step back and look at how we got...more

Venable LLP

Banking on a Nonbank Bank in 2024 - The ILC Option Revisited

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Becoming or owning an industrial loan company (or ILC)—the elusive "nonbank bank" option, as Congress coined the term in 1987— still has an allure for financial services providers that want to (1) lend on a national scale...more

Pillsbury - Global Sourcing Practice

U.S. Financial Regulators Continue Focus on Bank-Fintech Partnerships through Guidance and Request for Information

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On July 25, 2024, the Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued a joint statement describing potential...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday September 5

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September 4, 2024- The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled “AI and the Labor Market: Will Firms Hire, Fire, or Retrain?” September 4, 2024- The Bank Policy Institute...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday August 30

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August 28, 2024- Following its stress test earlier this year, the Federal Reserve Board announced final individual capital requirements for all large banks, effective on October 1....more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday August 21

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August 20, 2024 - Federal Reserve Board Governor Michelle W. Bowman gave remarks on the economic outlook and financial inclusion at the Alaska Bankers Association in Anchorage, Alaska. August 20, 2024- The Federal...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday August 14

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August 13, 2024 - The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, “When Are Central Bank Reserves Ample?” August 13, 2024 - The Federal Deposit Insurance Corporation...more

Orrick, Herrington & Sutcliffe LLP

Financial agencies propose rules to standardize data collections

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On August 2, the OCC, Fed, FDIC, NCUA, CFPB, FHFA, CFTC, SEC and Treasury (collectively, the agencies) released an interagency NPRM to establish data standards across these agencies for “certain collections of information...more

Paul Hastings LLP

Daily Financial Regulation Update -- Monday August 12

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August 9, 2024 - The U.S. Department of the Treasury, Federal Reserve Board, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Securities and Exchange Commission, Commodity Futures Trading...more

Orrick, Herrington & Sutcliffe LLP

FDIC, Fed approve final resolution planning guidance

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On July 30, the Fed and the FDIC published final guidance to enhance resolution planning at large banks. The guidance aims to assist certain larger financial institutions in developing their resolution plans, which are...more

Cadwalader, Wickersham & Taft LLP

FDIC Proposes To Exercise Now-Dormant Authority Under the Change-in-Bank Control Act

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The board of directors of the Federal Deposit Insurance Corporation (“FDIC”) recently proposed a rule change that would reassert its now-dormant authority to review changes in bank control involving bank holding companies....more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday August 9

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August 8, 2024- The Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during the April – June 2024 quarter, the Federal Reserve Bank of New York said in its quarterly report to the U.S....more

Latham & Watkins LLP

FDIC Proposes Amendments to Its Change in Bank Control Act Regulations

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The proposal would establish stricter oversight of certain transactions and responds to concerns that large asset managers may be exerting influence on FDIC-supervised institutions. On July 30, 2024, the Board of...more

Morrison & Foerster LLP

Banking Agencies Address Banking Arrangements with Third Parties to Provide Deposit Products and Services

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On July 25, 2024, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (collectively, the “Agencies”) issued a joint statement to banks regarding risks...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday August 2, 2024

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August 1, 2024- The European Artificial Intelligence Act (AI Act), the world's first comprehensive regulation on artificial intelligence, which was designed to ensure that AI developed and used in the EU is trustworthy,...more

Ballard Spahr LLP

Bank Regulators Issue Statement on Third-Party Relationships with Financial Institutions and Publish Request for Information on...

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The federal banking regulators (The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation) issued on July 25 a lengthy joint statement...more

Orrick, Herrington & Sutcliffe LLP

Bank regulators appeal to 5th Circuit to lift district court’s final rule ban

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On July 18, the OCC, FDIC, and the Fed (the federal banking agencies or FBAs) submitted a brief requesting that the U.S. Court of Appeals for the Fifth Circuit hold oral argument and reverse the U.S. District Court for the...more

Troutman Pepper

Federal Banking Agencies Reiterate Guidance on Managing Risks Posed By Fintech Partnerships and Other Third Party Relationships

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Last week, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies) issued a joint statement highlighting...more

Cooley LLP

Federal Regulators Act to Enhance Property Valuations During Mortgage Origination Process

Cooley LLP on

On July 17 and 18, 2024, federal financial regulators adopted rules and guidance setting forth expectations in the mortgage industry that originators properly oversee use of automated valuation models (AVMs) and entertain...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday July 26, 2024

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July 25, 2024- The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency issued a statement reminding banks of potential risks associated with third-party arrangements...more

WilmerHale

FinCEN’s Proposed AML/CFT Program Rule Potentially Heralds a Change in Approach

WilmerHale on

On June 28, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network announced long-anticipated proposed rules on anti-money laundering and countering the financing of terrorism program effectiveness;...more

Orrick, Herrington & Sutcliffe LLP

FDIC, Fed, and OCC announce 2024 CRA-eligible distressed and underserved areas

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On July 12, the FDIC, Fed, and OCC released a list of distressed or underserved nonmetropolitan middle-income areas eligible for CRA credit. The list identified regions where banks’ revitalization or stabilization activities...more

Ballard Spahr LLP

Federal Agencies Finalize Reconsideration of Value Guidance

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A group of federal agencies have finalized reconsideration of value (ROV) guidance for residential real estate valuations. The agencies are the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB),...more

Orrick, Herrington & Sutcliffe LLP

Financial regulators release final AVM rule for publication

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On July 17, the CFPB, OCC, Fed, FDIC, NCUA and FHFA adopted a final rule titled “Quality Control Standards for Automated Valuation Models.” As previously covered by InfoBytes, this final rule implemented new provisions...more

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