On Friday, March 10, the California Department of Financial Protection and Innovation (DFPI) closed Silicon Valley Bank (SVB), the subsidiary of SVB Financial. The Federal Deposit Insurance Corporation (FDIC) was appointed...more
On July 29, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Advisory Letter informing the general public that the FDIC does not insure assets issued by non-banking institutions, such as...more
President Biden spent nearly 18 months assembling his team of top financial services regulators. Michael Barr’s nomination as the top banking regulator at the Federal Reserve Board (FRB) will fill the last remaining vacancy...more
6/27/2022
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Biden Administration ,
Climate Change ,
Community Reinvestment Act ,
FDIC ,
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Federal Trade Commission (FTC) ,
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Securities and Exchange Commission (SEC)
On January 19, 2021, The Consumer Financial Protection Bureau (“Bureau”) adopted a final rule that codifies the Interagency Statement Clarifying the Role of Supervisory Guidance, issued by the Office of the Comptroller of the...more
Since Donald Trump took office the hot topic has been “deregulation”. However, contradicting this ideal are efforts by financial regulators to incorporate the use of financial technology by financial institutions and fintech...more
The prudential regulators, including the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency...more
Acting Director Mick Mulvaney’s decision to transition the Office of Fair Lending and Equal Opportunity (“OFLEO”) out of the Office of Supervision, Enforcement and Fair Lending (“SEFL”) does not eliminate or diminish the...more
In response to a recent consent order against a depository institution and several other examinations of major banks, five federal financial regulators have issued an inter-agency guidance ensuring that depository...more