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Custody Battles: The FDIC's Latest Proposed Rule on FBO Accounts

The FDIC has issued a proposed rule that would apply to practically all bank-fintech arrangements that use custodial deposit accounts to provide customers with transactional features (also called "FBO" accounts for short)....more

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

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

Crystal Clear: New Guide on Third-Party Risk Management for Community Banks - and Others

It is no secret that the Federal Reserve, the FDIC, and the OCC have zeroed in on banks' use of third parties for products, services, and other operations, the risks those arrangements may pose, and banks' responsibility to...more

New Year, New Signs - FDIC Amends Deposit Insurance Sign and Advertising Regulations

After an intense 2023 rulemaking, supervisory, and enforcement cycle for the federal banking agencies, the FDIC issued a final rule on FDIC official signs and advertising requirements right before the new year. The rule comes...more

All Things Seen and Unseen: Bank Supervision and Enforcement After the Spring 2023 Bank Failures

Besides being a shock to the market, the 2023 bank failures caused many to ask whether the federal banking agencies had done enough to prevent them. Precisely what the agencies should have done, or should do moving forward,...more

What the Proposed Capital Rule Means for Smaller Banks and Other Non-Bank Participants in the Financial Services Market

Larger banking organizations directly affected by the U.S. federal banking agencies' recent proposed capital rule have been busy analyzing the substantial changes, increased costs, and other requirements and effects that have...more

FDIC Releases Revised Supervisory Guidance on Multiple Re-Presentment NSF Fees

On June 16, 2023, the Federal Deposit Insurance Corporation (FDIC) released an update to its Supervisory Guidance on Multiple Re-Presentment NSF Fees (FIL-40-2022) (the "Guidance"), to provide additional guidance for...more

Bank Provider of BaaS Dinged by OCC; Blueprint for Fintech Partnerships?

​​​​​​​A recent action by the Office of the Comptroller of the Currency (OCC) highlights how banks need to ensure that they have robust compliance programs for managing risks posed by their banking as a service (BaaS)...more

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