Federal Reserve, FDIC | JD Supra Law News

Corporate and Financial Weekly Digest - May 17, 2013

by Katten Muchin Rosenman LLP on 5/20/2013

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

Federal Reserve Board Issues Statement On Deposit Advance Products

by BuckleySandler LLP on 5/10/2013

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

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 3, 2013

by BuckleySandler LLP on 5/6/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - CREDIT CARDS - E-COMMERCE - PRIVACY/DATA SECURITY -...more

New Restrictions On Bank “Payday Loans”

by John K. Lawrence | Dickinson Wright on 5/6/2013

Federal bank regulatory agencies have served notice that deposit advance products, sometimes known as bank “payday loans,” will soon be subject to significant new restrictions and heightened supervisory scrutiny. In...more

Financial Services Bulletin: Action At The CFPB, OCC, FDIC, And Fed

by Perkins Coie on 5/2/2013

On Thursday, April 25, 2013, the Office of the Comptroller of the Currency (the "OCC") and the Federal Deposit Insurance Corporation (the "FDIC") proposed guidance and the Board of Governors of the Federal Reserve System (the...more

Financial Services Legislative and Regulatory Update -- April 29‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 5/1/2013

In This Issue: Leading the Past Week; Legislative Branch; and Executive Branch. Excerpt from Leading the Past Week - The past week could be best described by one word. Chaos. In the House, a scheduled...more

Banking & Financial Services E-Note - April 25, 2013

by John Chiles, Benjamin Coulter, Bryan Glover, John Michael Kearns, Mignon Lunsford, Zachary Miller, Jordan Teague | Burr & Forman on 4/26/2013

In This Issue: - Regulators Could Step in with Tougher Rules as Bank Profits Rise - Bill Would Force Study of Basel III Impact on Bank Capital Costs - Regulator Wants Enforcement Powers Against Bank...more

Agencies Provide Additional Instructions for Submission of Resolution Plans and Extend Deadline

by Jeffrey M. Werthan | Katten Muchin Rosenman LLP on 4/24/2013

On April 15 the Federal Reserve Board (Board) and the Federal Deposit Insurance Corporation (FDIC) announced the release of additional guidance, clarification and direction for the first group of institutions filing their...more

Banking Regulators Issue Additional Resolution Plan Guidance

by BuckleySandler LLP on 4/23/2013

On April 15, the Federal Reserve Board and the FDIC issued additional guidance for the first group of institutions required to submit resolution plans pursuant to the Dodd-Frank Act. That group includes 11 institutions that...more

Joint Release on Additional Guidance for Resolution Plans

by Orrick - Structured Finance Group on 4/23/2013

On April 15, the FDIC and the Fed issued a joint release which provides additional guidance, clarification and direction for the first group of 11 institutions filing their resolution plans pursuant to the Dodd-Frank Act. ...more

Financial Services Bulletin: Action At The CFTC, SEC, CFPB, Fed, And FDIC

by Perkins Coie on 4/19/2013

On Wednesday, April 10, 2013, the Commodity Futures Trading Commission (the "CFTC") and the Securities and Exchange Commission (the "SEC") jointly issued final rules and guidelines that will require certain regulated entities...more

Orrick's Financial Industry Week in Review - April 15, 2013

by Orrick, Herrington & Sutcliffe LLP on 4/15/2013

Fed Proposal on Annual Assessments - On April 15, the Fed requested comment on a proposed rule to establish an annual assessment for bank holding companies and savings and loan companies with $50 billion or greater in total...more

Multi-Agency Guidance on Leveraged Lending Practices

by Orrick, Herrington & Sutcliffe LLP on 4/11/2013

On March 21, 2013, the Office of the Comptroller of the Currency (“OCC”), the Board of Governors of the Federal Reserve System (“Federal Reserve”) and the Federal Deposit Insurance Corporation (“FDIC”) (collectively, the...more

U.S. Regulators Issue Final Guidance on Leveraged Lending

by Andrew Herr | Osler, Hoskin & Harcourt LLP on 4/9/2013

On March 22, 2013, U.S. regulators, consisting of the Office of the Controller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Federal Reserve) and the Federal Deposit Insurance Corporation (FDIC...more

Credit Crunch Digest -- March 2013

by Jennifer Quinn Broda, Ryan Chapoteau, Matthew Ferguson, Todd McCormick, Thomas R. Orofino, Eric C. Scheiner | Sedgwick LLP on 4/2/2013

This issue of the Credit Crunch Digest focuses on developments in antitrust-based Libor claims against major banks; the status of European Union investigations into Libor manipulation; developments in IndyMac-related...more

Federal Reserve Board Announces BSA/AML Enforcement Action Against Bank Holding Company

by BuckleySandler LLP on 4/2/2013

On March 26, the Federal Reserve Board released a recent enforcement action against a bank holding company related to deficiencies in certain of its bank subsidiaries’ Bank Secrecy Act and anti-money laundering (BSA/AML)...more

Banking Agencies Update Leveraged Lending Guidance

by BuckleySandler LLP on 4/1/2013

On March 21, the Federal Reserve Board, the OCC, and the FDIC issued final interagency guidance to ensure institutions provide leverage lending in a safe and sound manner by: (i) identifying the institution’s risk appetite...more

Banking Agencies Issue Guidance on Leveraged Lending

by Jeffrey M. Werthan | Katten Muchin Rosenman LLP on 3/27/2013

On March 21, federal bank regulatory agencies released updated supervisory guidance on leveraged lending, “which has been increasing since 2009 after declining during the financial crisis.” The guidance from the Federal...more

Agencies Release Proposed Revisions to Interagency Questions and Answers Regarding Community Reinvestment

by Jeffrey M. Werthan | Katten Muchin Rosenman LLP on 3/27/2013

On March 18, the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (the Agencies) requested comment on proposed revisions to “Interagency Questions and Answers...more

Financial Services Report - Spring 2013

Editor’s Note - This is a dignified law firm newsletter, not like the “Brand X” versions. You won’t find pandering, attention-grabbing stories about Justin Bieber, Kim Kardashian, Ashton Kutcher, Prince William, or...more

Are You Using Your Holding Company?

by Hugh B. Wellons | Spilman Thomas & Battle, PLLC on 3/12/2013

Many banks formed holding companies in the late 1980s and 1990s. They had various reasons for doing this. Some formed a holding company to hold subsidiaries providing nonbank activities. Some used the holding company to...more

Financial Services Legislative And Regulatory Update -- March 4‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 3/4/2013

In This Issue: Leading the Past Week; Legislative Branch; House of Representatives; Executive Branch; Miscellaneous; and Upcoming Hearings. Excerpt from Leading the Past Week - On Friday evening President...more

Agencies Issue Final Rule on Appraisals for Higher-Priced Mortgage Loans

by Jeffrey M. Werthan | Katten Muchin Rosenman LLP on 2/1/2013

On January 18, six federal financial regulatory agencies (the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Federal Housing Finance...more

Joint Rule on Appraisals for Higher-Priced Mortgage Loans

by Orrick - Structured Finance Group on 1/22/2013

On January 18, the Fed, CFPB, FDIC, FHFA, NCUA and OCC issued a joint final rule, effective January 18, 2014, which establishes new appraisal requirements for “higher-priced mortgage loans”....more

Agencies Adopt Final Appraisal Rule for Higher-Priced Mortgage Loans

by Richard J. Andreano, Jr., John D. Socknat, Michael S. Waldron | Ballard Spahr LLP on 1/21/2013

Today, the federal financial institution agencies (the FDIC, Fed, OCC, and NCUA), the CFPB, and the Federal Housing Finance Agency adopted a joint final rule to implement Dodd-Frank appraisal requirements for higher-priced...more

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