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
As its name suggests, California’s new Department of Financial Protection and Innovation (“DFPI”) isn’t just about protecting consumers—it also has an important mission to foster responsible innovation. What exactly is DFPI...more
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
Deciding that the benefit to smaller banks and other smaller financial institutions outweighs the lessening of transparency, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update to...more