In a notice of proposed rulemaking (NPRM), the Federal Deposit Insurance Corporation (FDIC) announced its plan to update its brokered deposits regulations....more
In new guidance, banking regulators eased oversight of financial institutions working with hemp-related businesses.
The joint statement from the Board of Governors of the Federal Reserve System, Federal Deposit Insurance...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
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
The Cannabis Banking Guidance from California’s Department of Business Oversight (DBO) offers California-chartered financial institutions serving cannabis-related businesses assurances that the DBO will not bring enforcement...more
In the latest battle over the Office of the Comptroller of the Currency’s (OCC’s) plan to issue special purpose national bank (SPNB) charters, a D.C. federal judge has for a second time dismissed a lawsuit brought by the...more
Aiming to modernize the description of business, legal proceedings and risk factor disclosures that registrants are required to make pursuant to Regulation S-K, the Securities and Exchange Commission (SEC) recently proposed a...more
In a new letter to all financial institutions supervised by the Board of Governors of the Federal Reserve System, the Federal Reserve cautioned directors and officers about the potential limitations of director and officer...more
With the prospect of a downturn in the economy getting ever so closer, the time is right for executive management teams and boards of directors of financial institutions to review and reassess how they are going to prepare...more
A closely watched bill that would have a significant impact on the financial services industry continues to advance through the California Legislature, although a second measure that would regulate lead generators has...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
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
The movement to provide a limited bank charter to serve marijuana businesses in California inched forward when the California Senate approved SB 51 by an almost unanimous vote, sending the measure to the Assembly for review....more
Support continues to build for the Secure and Fair Enforcement (SAFE) Banking Act, with a coalition of 38 state and territorial Attorneys General as well as the American Bankers Association (ABA) writing to lawmakers to urge...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
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
Legislation on cannabis banking continues to make its way through the House of Representatives, with one bill garnering approval by the Financial Services Committee....more
Financial institutions need help, the Credit Union National Association (CUNA) told newly confirmed U.S. Attorney General William Barr, urging the Department of Justice (DOJ) to provide clear guidance on how it believes the...more
Joint rulemaking on CRA reform may finally be in the works, including amendments tailored to the vastly changed environment since its passage....more
Lawmakers recently met to consider cannabis banking, discussing two different bills that have been introduced to solve the problem of providing financial services to an industry that operates under a cloud imposed by federal...more
The future of financial services for marijuana businesses may be brighter if current nominee for attorney general William Barr is confirmed by the U.S. Senate for the position....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