News & Analysis as of September 22, 2024

Financial Institutions

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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 -

Financial Services Report – Fall 2020

Morrison & Foerster LLP on 10/16/2020

We join the nation in mourning the passing of Supreme Court Justice Ruth Bader Ginsburg. Over her 20-year career before appointment to the D.C. circuit court, Justice Ginsburg fought for equal rights in the workplace, among...more

Volcker Rule Covered Fund Amendments Provide Clarity and Opportunities

Jones Day on 7/15/2020

The Situation: The Federal Reserve, Office of the Comptroller of the Currency ("OCC"), Federal Deposit Insurance Corporation ("FDIC"), Securities and Exchange Commission ("SEC"), and Commodity Futures Trading Commission...more

US Federal Banking Agencies Introduce Further Measures to Address Continuing COVID-19-Related Risks

Latham & Watkins LLP on 4/10/2020

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

Nutter Bank Report: February 2020

Nutter McClennen & Fish LLP on 2/27/2020

Federal Reserve Revises Framework for Determining Control of a Banking Organization The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more

US Agencies Proposed Revisions to Volcker Rule Covered Funds Provisions

Mayer Brown Free Writings + Perspectives on 2/13/2020

On January 30, 2020, the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the Office of the Comptroller of the Currency (“OCC”), the Securities and Exchange...more

Proposed Changes to the Volcker Rule

Polsinelli on 2/6/2020

On January 30, 2020, the U.S. Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency, Treasury (OCC), the Board of Governors of the Federal Reserve System (“Fed”), the Federal Deposit...more

Description Of The Small Business Investment Company Program Participation By Unleveraged Funds - January 2020

Troutman Pepper on 1/14/2020

A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more

Volcker Rule Relief for Foreign Banking Entities

Morrison & Foerster LLP on 9/4/2019

On August 20, 2019, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) approved a final rule (the “2019 Final Rule”) to amend the rules implementing Section 13 of the Bank...more

Nutter Bank Report: August 2019

Nutter McClennen & Fish LLP on 9/3/2019

Federal Reserve Announces Plan for Real-Time Payment and Settlement Service - The Federal Reserve has announced that the Federal Reserve Banks will develop a new real-time gross settlement service with integrated clearing...more

Amendments to Volcker Rule Regulations

Morrison & Foerster LLP on 8/27/2019

On August 20, 2019, the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) approved a final rule (the “2019 Final Rule”) to amend the rules implementing Section 13 of the...more

Volcker 2.0

Cadwalader, Wickersham & Taft LLP on 8/26/2019

On August 20, 2019, the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) adopted final regulations (the “Amended Final Regulations”) revamping the regulations...more

Financial Services Weekly News - June 2018

Goodwin on 6/7/2018

Editor's Note - Proposed Volcker Rule Amendments Reduce Burden on Community Banks and Banks With Limited Trading Activities. Last week and earlier this week, all five federal financial regulators with jurisdiction over the...more

US House of Representatives Approves the Financial Choice Act

Kramer Levin Naftalis & Frankel LLP on 6/13/2017

On June 8, the U.S. House of Representatives voted to approve the Financial CHOICE Act (FCA) primarily along party lines, 233-186. The FCA was introduced by Rep. Jeb Hensarling of Texas, and co-sponsored by 40 of his...more

The Financial CHOICE Act Is Approved by US House Financial Services Committee

Kramer Levin Naftalis & Frankel LLP on 5/25/2017

On May 4, the Financial CHOICE Act (the FCA) — which was introduced to the House of Representatives on April 26 by Rep. Jeb Hensarling (Texas-5), and co-sponsored by seven of his Republican colleagues and referred for...more

Emerging Trends Newsletter - Q4

Stinson LLP on 1/25/2017

The Volcker Rule Under the Trump Administration - The so-called Volcker Rule—named after Paul Volcker, a former chairman of the Federal Reserve Board—was part of the Dodd-Frank Wall Street Reform and Consumer Protection...more

The New Future of US Banking and Financial Services Regulation

Dechert LLP on 11/30/2016

The presidential election has opened the possibility of significant changes to the Dodd-Frank Act regime that has been implemented over the last six years. It remains to be seen what plans the incoming administration will...more

Implications of the 2016 Election for Banks, Systemically Important Financial Institutions and Their Investors

Dechert LLP on 10/12/2016

Campaign promises rarely turn into specific actions, but when they do, they are necessarily impacted by the dynamics of the legislative process. History suggests, however, that the policies of candidates can be a predictor of...more

Federal Banking Agencies Issue Recommendations as Part of Their Section 620 Report to Solidify the Safety and Soundness of the...

Morrison & Foerster LLP on 9/12/2016

On September 8, 2016, the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Office of the Comptroller of the Currency (the “OCC,” and...more

Financial Services Weekly News - March 2016

Goodwin on 3/10/2016

Regulatory Developments - CFPB Now Accepting Complaints on Online Marketplace Lenders - On March 7, the Consumer Financial Protection Bureau (CFPB) announced two initiatives: it will now accept complaints from...more

Observation 3.0: Frequently Asked Questions and Answers on the Volcker Rule and the Implications for Foreign Banks Investing in...

Troutman Pepper on 10/20/2015

1. Question: What is the Volcker Rule, and when does it take effect? Answer: The Volcker Rule was enacted into law as section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank...more

Financial Services Report, Fall 2015

Morrison & Foerster LLP on 9/18/2015

BELTWAY - Straight Out of the Seventh Circuit The Seventh Circuit recently affirmed a lower court’s ruling that the SEC cannot be sued in district court to stop it from bringing an administrative action. Bebo v. SEC, No....more

Financial Services Weekly News Roundup - July 2015 #4

Goodwin on 7/23/2015

Regulatory Developments: SEC Approves New Debt Research Rule and Amended Equity Research Rule - On July 16, the SEC approved FINRA Rule 2241, which modifies and clarifies existing rules related to research analysts,...more

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