On May 20, 2020, the Federal Reserve Board (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the Office of the Comptroller of the Currency (“OCC”), and the National Credit Union Administration (“NCUA”) (together,...more
On December 23, 2019, the New York Department of Financial Services (NYDFS) issued an Industry Letter instructing each institution it regulates, including banks and licensed Fintechs, to make submissions describing the...more
1/14/2020
/ Alternative Reference Rates Committee (ARRC) ,
Bank of New York (BNY) Mellon ,
Banks ,
Depository Institutions ,
Derivatives ,
Federal Bank Regulatory Agencies ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
FinTech ,
FRB ,
Industry Letters ,
Interest Rates ,
Lenders ,
Libor ,
Loans ,
Money Transmitter ,
NYDFS ,
Risk Assessment ,
Risk Mitigation ,
Secured Overnight Funding Rate (SOFR) ,
Securitization ,
Sterling Overnight Index Average (SONIA) ,
Transitional Arrangements ,
UK ,
Virtual Currency
On December 3, 2019, in a rare public statement regarding the provision of banking services to cannabis- or hemp-related businesses, the Federal Banking Agencies, including the Board of Governors of the Federal Reserve...more
12/11/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
Controlled Substances Act ,
Farm Bill ,
Federal Bank Regulatory Agencies ,
Financial Services Industry ,
FinCEN ,
Hemp ,
Hemp Related Businesses ,
Interagency Guidance ,
Joint Statements ,
NCUA ,
Risk Management ,
Suspicious Activity Reports (SARs) ,
USDA