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
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 August 3, 2020, the Federal Financial Institutions Examination Council1 (FFIEC) issued a new joint statement of principles for banks to consider while working with their loan customers as the end of COVID-19 initial loan...more
8/25/2020
/ Board of Governors ,
Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
FDIC ,
FFIEC ,
Financial Institutions ,
Financial Services Industry ,
Joint Statements ,
Loans ,
Risk Management
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
In new alerts, both state and federal regulators are cautioning the financial services industry about heightened cybersecurity risk amid a climate of increased geopolitical tensions....more
In a notice of proposed rulemaking (NPRM), the Federal Deposit Insurance Corporation (FDIC) announced its plan to update its brokered deposits regulations....more
Is the Federal Deposit Insurance Corporation (FDIC) moving to work more closely with the state regulators with whom it shares so much prudential authority? So it seems. The FDIC has created a new advisory committee featuring...more
The Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board of Governors, Office of the Comptroller (OCC) and National Credit Union Administration (NCUA) have released a proposed Interagency Policy Statement on...more
What happened -
Shining a light on minority depository institutions (MDIs), in June 2019, the Federal Deposit Insurance Corporation (FDIC) hosted the 2019 Interagency Minority Depository Institution and CDFI Bank...more
The Federal Deposit Insurance Corporation (FDIC) just reiterated its guidance on managing risks in technology service provider (TSP) relationships in a new Financial Institution Letter (FIL). The letter reminds financial...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
Federal Deposit Insurance Corporation (FDIC) Chair Jelena McWilliams emphasized the need for partnership and collaboration with the financial services industry, in recent remarks at a fintech conference....more
“Innovation” is the keyword for regulators across the country, with the Federal Deposit Insurance Corporation (FDIC) announcing the agency will create an office to encourage banks to try out new financial technology and the...more
The U.S. Department of the Treasury has published recommendations for modernizing the Community Reinvestment Act (CRA), offering proposals to the Federal Reserve Board of Governors, the Federal Deposit Insurance Corp. (FDIC)...more
What are federal regulators doing with regard to oversight of emerging financial technology? That question is at the heart of a letter Sens. Sherrod Brown (D-Ohio) and Jeff Merkley (D-Ore.) recently sent to the leaders of the...more
8/30/2016
/ Consumer Financial Protection Bureau (CFPB) ,
Fair Lending ,
FDIC ,
Federal Bank Regulatory Agencies ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Legislative Agendas ,
Loans ,
OCC ,
Third-Party Service Provider
An annual report from the Financial Stability Oversight Council (FSOC) recently focused on the risks presented by the burgeoning fintech industry as well as the continuing "pressing concern" of cyber threats and...more
7/18/2016
/ Annual Reports ,
Consumer Financial Protection Bureau (CFPB) ,
Cyber Threats ,
Cybersecurity ,
FDIC ,
Federal Reserve ,
Financial Products ,
FinTech ,
FSOC ,
Online Marketplace Lending ,
Popular ,
Risk Management ,
Securities and Exchange Commission (SEC)
The growth and expansion of FinTech service providers nationally and internationally over the last five years is reshaping the financial landscape. This evolution includes differentiation in how financial products are...more
2/10/2016
/ Behavioral Advertising ,
CAN-SPAM Act ,
ECOA ,
FDIC ,
FinTech ,
FTC Endorsement Guidelines ,
Popular ,
Social Media ,
TCPA ,
Truth in Lending Act (TILA) ,
UDAAP ,
Unfair or Deceptive Trade Practices
Why it matters -
A shareholder suit against a bank holding company and its directors and officers was precluded by the Federal Deposit Insurance Corporation’s (FDIC) receivership of the underlying failed bank, the...more
Bit by Bit(coin), Virtual Currency Inches Toward Regulation -
Has the time come to regulate virtual currency? At a recent hearing held by the New York Department of Financial Services, the answer appeared to be “yes.”...more
Swipe Fee Settlement Yields More Litigation -
Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more
2/11/2014
/ American Express ,
Antitrust Litigation ,
Banks ,
Class Action ,
Deposit Advances ,
FDIC ,
Fees ,
MasterCard ,
Prepaid Payment Products ,
Toys R Us ,
Visa Inc ,
Visas
Swipe Fee Settlement Yields More Litigation -
Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more
1/31/2014
/ Antitrust Litigation ,
Banks ,
Business Judgment Rule ,
Class Action ,
Deposit Advances ,
Directors ,
FDIC ,
Fees ,
MasterCard ,
Merchant Fees ,
Payday Loans ,
Settlement ,
Visa Inc