In an effort to increase transparency in the Bank Merger Act (BMA) approval process, the Office of the Comptroller of the Currency (OCC) has recently issued a proposed policy statement (the “Policy Statement”) which is...more
In a significant development for state nonmember banks with assets of at least $10 billion (Covered Institutions), the Federal Deposit Insurance Corporation (FDIC) has recently proposed comprehensive corporate governance and...more
In remarks before the Brookings Institution on June 20, 2023, Assistant United States Attorney General (AAG) Jonathan Kanter provided detailed insights into the work by the Department of Justice’s (DOJ) Antitrust Division to...more
On May 11, 2023, the Federal Deposit Insurance Corporation (FDIC) approved a notice of proposed rulemaking (NPR) to place a special assessment on larger banks in order to recover the costs associated with protecting uninsured...more
On March 12, 2023, in response to concerns about the ongoing ripple effects of recent bank failures, the Federal Reserve Board established the new Bank Term Funding Program (the Program) to provide additional funding to...more
On October 14, 2022, the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board (FRB) both approved the acquisition of MUFG Union Bank, National Association, by U.S. Bancorp and its subsidiary U.S. Bank...more
2021 is in the books…another eventful year on so many different fronts. For financial institutions, it was a year in flux, with various governmental appointments taking on new importance in the day-to-day life of banks. ...more
1/11/2022
/ Acquisition Agreements ,
Bank Merger Act ,
Banks ,
Competition ,
Coronavirus/COVID-19 ,
Employees ,
Financial Markets ,
Financial Services Industry ,
FinTech ,
Hiring & Firing ,
Infectious Diseases ,
Interest Rates ,
Merger Agreements ,
Resignation
Bank mergers and acquisitions are on the rise, with the total number of bank M&As in 2021 surpassing that of 2020. With this increase, institutions should pay close attention to trends and new regulatory guidelines to prepare...more
9/15/2021
/ Acquisitions ,
Banking Sector ,
Banks ,
Best Practices ,
Continuing Legal Education ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinTech ,
Mergers ,
Professional Plaintiffs ,
Webinars
On July 9, 2021, President Biden signed an “Executive Order on Promoting Competition in the American Economy.” Included within the order is a sweeping recommendation that the Attorney General, in consultation with the heads...more
What can we really say about 2020?—a year more unique than any year we can remember. For financial institutions, it was a year that started off with lots of hope and drifted into levels of significant concern as COVID-19 took...more
On June 25, 2020, federal banking and securities regulators issued new regulations that will ease burdens on banks that involve themselves with certain types of investment funds. By creating new exclusions from the definition...more
7/2/2020
/ Banks ,
Community Reinvestment Act ,
Debt Instruments ,
Final Rules ,
Internal Revenue Code (IRC) ,
Investment Advisers Act of 1940 ,
New Regulations ,
Qualified Opportunity Funds ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Volcker Rule
On May 20, the OCC issued its final rule intended to modernize and clarify the Community Reinvestment Act (CRA). The rule included the surprising footnote that the FDIC, which had joined as a partner in the Notice of Proposed...more
6/12/2020
/ Banks ,
Community Development ,
Community Reinvestment Act ,
Coronavirus/COVID-19 ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Lending ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Rulemaking Process
One of the many bills enacted into law during the California Legislature’s end-of-session rush was Assembly Bill 857, which authorized the creation of “public banks” to support local economies and community development and...more
How is the Federal Reserve Board of Governors progressing with its critically important review of the Community Reinvestment Act (CRA)?
The agency released “Perspectives from Main Street: Stakeholder Feedback on...more
Seeking to increase the transparency of the rules for determining control of a banking organization, the Federal Reserve Board of Governors (Board) asked for public comment on a new proposal....more
A new study has cast a shadow on plans for a state-owned bank to service the cannabis industry in California.
After recreational pot became legal in the state last year, regulators considered the option of a state-run bank...more
2018 was generally a solid year for banks looking at merger and acquisition opportunities and reaching for the capital markets, but there are some headwinds in 2019 that give us pause about what the future holds. Below we...more
Undertaking a serious push to encourage de novo banks, the Federal Deposit Insurance Corporation (FDIC) announced multiple initiatives and released new resources in the hopes of attracting new banks....more
What impact will the midterm elections have on banks?
While the Republicans retained control of the Senate, a Democrat-led House is expected to reverse course on the past two years of easing regulatory burdens and enacting...more
Community banks and smaller financial institutions take note: the five federal banking agencies are encouraging banks and credit unions to enter into collaborative arrangements to share resources to more effectively and...more
Recent enforcement actions demonstrate just how expensive failures with regard to Bank Secrecy Act and anti-money laundering (BSA/AML) compliance can be and how intentional conduct can enhance the severity of a penalty, with...more
Spurred by the recent shift in federal policy, California appears to be inching closer to a state-run bank for the burgeoning marijuana industry....more
Banks face even greater risks and are likely to back away from marijuana-related businesses after the U.S. Attorney General changed the federal government’s stance on legalized pot....more
2017 was a great year for banks across a wide spectrum, and we believe 2018 holds tremendous promise, so long as the credit condition of borrowers does not deteriorate and banks continue to lend prudently. Below we count down...more
Is California starting a government-run bank for marijuana businesses?
What happened -
Last November, California joined the growing number of states to enact legislation legalizing the use of recreational marijuana....more