A proposed rule published by the FDIC on March 31 would create a formal framework for the agency’s supervision and oversight of nonfinancial commercial entities that control an industrial bank. ...more
New third-party oversight guidance issued by the OCC should spur increased financial innovation at national banks. On March 5, the OCC issued OCC Bulletin 2020-10, Frequently Asked Questions to Supplement OCC Bulletin...more
3/20/2020
/ Banking Sector ,
Banks ,
FDIC ,
Financial Institutions ,
FinTech ,
New Guidance ,
Non-Bank Lenders ,
OCC ,
Risk Management ,
Third-Party ,
Third-Party Risk
Bank examinations, holding company inspections and other “supervisory events” can be a source of anxiety and dread for those who work in the banking industry.
Originally published in ABA Bank Compliance - March/April 2020....more
On September 10, the FDIC and the OCC jointly submitted an amicus brief to the U.S. District Court for the District of Colorado in support of the appellee debt buyer in In re Rent-Rite Super Kegs West Ltd. ...more
9/19/2019
/ Amicus Briefs ,
Assignees ,
Banks ,
Commercial Bankruptcy ,
Commercial Loans ,
Debt Buyers ,
FDI Act ,
FDIC ,
Financial Services Industry ,
Interest Rates ,
Madden v Midland Funding ,
National Bank Act ,
OCC ,
Preemption ,
Valid When Made Doctrine
A watershed moment is “the exact moment that changes the direction of an activity or situation . . . a dividing point, from which things will never be the same.” The Second Circuit Court of Appeals’ 2015 decision in Madden v....more
5/3/2019
/ Agency Relationship ,
Bank Service Company Act ,
Banks ,
Debt Buyers ,
Federal Bank Regulatory Agencies ,
Federal v State Law Application ,
Financial Sponsors ,
Interest Rates ,
Lending Programs ,
Loan Origination Funds ,
Loan Servicing ,
Madden v Midland Funding ,
Nonbank Firms ,
Participation Agreements ,
Usury ,
Valid When Made Doctrine
In October 2018 the FDIC became the latest federal financial regulator to announce plans to create an Office of Innovation, following on the heels of the OCC and the CFPB.
Originally published in Delaware Banker - Winter...more
The attorney-client privilege is a rule of evidence that prevents the adverse party in a lawsuit from obtaining access to certain communications. If properly understood and wellmanaged, this privilege offers a useful tool for...more
The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties.
On January 24, the Office of...more
2/22/2017
/ Banking Sector ,
Banks ,
Consumer Lenders ,
Due Diligence ,
FDIC ,
Financial Institutions ,
FinTech ,
Innovation ,
Innovative Technology ,
Loans ,
Mortgages ,
OCC ,
Online Marketplace Lending ,
Risk Assessment ,
Risk Management ,
Small Business ,
Student Loans ,
Technology ,
Third-Party Relationships