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Federal Deposit Insurance Corporation › Financial Crimes

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 -
Jackson Lewis P.C.

FDIC Revises Section 19 Regulations for Institutions Hiring Persons Convicted of Certain Crimes

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The Federal Deposit Insurance Corporation (FDIC) has revised its regulations on Section 19 of the Federal Deposit Insurance Act to conform with the previously enacted Fair Hiring in Banking Act (FHBA). The FHBA paved the way...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

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, November 17, 2023

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November 16, 2023- The Financial Crimes Enforcement Network (FinCEN) has updated its Beneficial Ownership Information FAQs to include new questions about the reporting process, reporting companies, beneficial owners,...more

Ballard Spahr LLP

FinCEN Issues $15 Million Dollar Civil Penalty Against Shinhan Bank America for Alleged Failure to Implement and Maintain...

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On September 29, the Financial Crimes Enforcement Network (“FinCEN”) entered into a consent order with Shinhan Bank America (“SHBA”), which imposed a $15 million dollar civil penalty against SHBA for allegedly willfully...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, June 30, 2023

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June 29, 2023- Federal financial institution regulatory agencies today jointly issued a final policy statement on commercial real estate loan accommodations and workouts....more

Paul Hastings LLP

Daily Financial Regulation Update -- Saturday, May 27, 2023

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U.S. House Financial Services Committee Chairman Patrick McHenry (NC-10) sent a letter to Secretary of the Treasury Janet Yellen regarding Treasury's rumored Executive Order on outbound investment to China....more

Goodwin

Debt Download - March 2023

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Welcome to Goodwin’s Debt Download, our monthly newsletter covering what you need to know in the leveraged finance market. This month, we focus our coverage on the turmoil in the banking industry resulting from the failures...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday, November 1, 2022

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October 31, 2022- Securities and Exchange Commission Commissioner Caroline A. Crenshaw gave remarks at the inaugural ECGI Responsible Capitalism Summit entitled, "Moving Forward in Our Lane."...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday, July 19, 2022

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July 18, 2022- The U.S. Department of the Treasury released Treasury International Capital data for May 2022. Secretary of the Treasury Janet L. Yellen's Meetings with Counterparts at the G20 Finance Ministers and...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday, July 7, 2022

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Major Developments- U.S. Department of Education Education- Department Releases Proposed Regulations to Revise Federal Student Loan Programs including Expanding and Improving Targeted Relief Programs-...more

Paul Hastings LLP

Daily Financial Regulation Update -- Saturday, July 2, 2022

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Major Developments- Justice Department Announces Enforcement Action Charging Six Individuals with Cryptocurrency Fraud Offenses in Cases Involving Over $100 Million in Intended Losses...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday, June 16, 2022

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Major Developments- Federal Reserve issues FOMC statement- June 15, 2022- The Federal Reserve issued a statement regarding the Federal Open Market Committee meeting held June 14-15.-...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday, June 14, 2022

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Federal Agencies- Federal Reserve Bank of New York- Survey of Consumer Expectations: Household Spending Expectations Rise Sharply; Credit Access Perceptions and Expectations Deteriorate Further-...more

Paul Hastings LLP

Daily Financial Regulation Update --Tuesday, June 7, 2022

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Federal Agencies- Securities and Exchange Commission- SEC Investor Advisory Committee to Discuss Non-Traditional Accounting and Climate Disclosure on June 9-...more

Paul Hastings LLP

Daily Financial Regulation Update -- Saturday, May 21, 2022

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The G7 Finance Ministers and Central Bank Governors issued a communique on the results of their May 18-20 Meeting in Petersburg, Germany....more

Steptoe & Johnson PLLC

The Corporate Transparency Act

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The Corporate Transparency Act (CTA), included as an amendment to the Anti-Money Laundering Act of 2020, was passed by Congress this year as an effort to make it more difficult to commit “shell company” money laundering, tax...more

Foodman CPAs & Advisors

Agencies Request Information To Assist With BSA Laws And Regulations Compliance

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On April 9, 2021, the federal banking regulatory agencies (the Federal Reserve, FDIC and OCC) together with FinCEN and the National Credit Union Administration issued a joint statement addressing how risk management...more

Foodman CPAs & Advisors

While FinCEN lacks Independent Litigating Authority, it is the Regulator for the BSA and is responsible for the administration of...

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FinCEN issues implementing regulations that “ensure” compliance with the BSA.  FinCEN delegates its examination authority to federal agencies.  These federal agencies are the “Federal Functional Regulators” who supervise...more

Seyfarth Shaw LLP

FDIC to Codify Policy under Section 19 of the Federal Deposit Insurance Act

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Seyfarth Synopsis: The Federal Deposit Insurance Corporation is accepting comments until March 16, 2020 on the proposed codification to the Statement of Policy for Section 19 of the Federal Deposit Insurance Act, as well as...more

Ballard Spahr LLP

FDIC Chairman: A “Culture of Compliance” Begins at the Top

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In his remarks during last week’s launch of Case Western Reserve School of Law’s Financial Integrity Institute, FDIC Chairman Martin J. Gruenberg spoke on the historical context of today’s BSA/AML regulatory framework and the...more

Orrick, Herrington & Sutcliffe LLP

Treasury Request for Public Input on Expanding Access to Credit through Online Marketplace Lending

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On July 20, the Department of the Treasury published a Notice and Request for Information (“RFI”) seeking comment on various aspects of online marketplace lending, including – - the business models and products offered...more

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