News & Analysis as of

Banking Regulators

The Trump Administration to Seek Changes to the Community Reinvestment Act

by Vedder Price on

The Community Reinvestment Act (CRA) was enacted in 1977 to prevent redlining and to encourage banks and savings associations (collectively, banks) to help meet the credit needs of all segments of their communities, including...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Senate Banking Committee has voted out of committee a bipartisan effort to ease Dodd-Frank regulations. The bill in question could “drastically cut” the number of banks subject to heightened Fed oversight and “would ease...more

Tackling Nonperforming Loans in Europe

by Morgan Lewis on

Challenges and recent developments regarding NPLs and the role of EU state aid rules. More than one trillion euros’ worth of nonperforming loans (NPLs) are concentrated in the periphery of the European Union, with banking...more

Financial Regulatory Observer - September 2017: How state aid survived the Italian banking crisis

by White & Case LLP on

There is much to admire in the EU's handling of the Italian banking crisis, but in allowing two lenders to escape BRRD rules, it has raised questions on the consistency of the EU state aid and resolution framework....more

Update on Chinese Outbound Investment Policies

by Jones Day on

China's State Council recently issued a new notice ("New ODI Guidelines") as a follow-up to the overseas investment control policy that it announced in December 2016. The New ODI Guidelines provide further guidance regarding...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Drugmaker Gilead has kickstarted a largely quiet period for big pharma deals with the announcement that it’s acquiring Kite for about $11.9 billion. Kite Pharma’s best known for its emerging cancer treatments that focus on...more

Legal and regulatory issues adversely affecting banks in Trade and Supply Chain Finance

by Sullivan & Worcester on

Following a meeting of the Basel committee in March this year, the Chairman Stefan Ingves, announced that the committee has made further progress towards the finalization of the Basel III accord are stricter capital rules and...more

Key California Bank Regulator Retires

by Ballard Spahr LLP on

Tom Dresslar, the Deputy Commissioner for Policy and Planning at the California Department of Business Oversight, California’s state bank regulator, has retired. Mr. Dresslar joined the DBO in late 2014 after a long career...more

Curry in a Hurry: OCC Publishes Fintech Charter Standards

A key banking regulator has published draft licensing standards that could fundamentally change how financial technology companies operate and are supervised in the United States. The new standards come in the final weeks of...more

CFTC Implements Phase-in Period for New Variation Margin Requirements

by McGuireWoods LLP on

On February 13, 2017, the U.S. Commodity Futures Trading Commission (CFTC) issued time-limited no-action relief providing a six-month grace period for certain swap dealers to come into compliance with the variation margin...more

Trump’s call to ‘rationalize’ federal financial regulation could threaten U.S. dual banking system

by Thompson Coburn LLP on

As a prelude to “doing a big number on Dodd Frank,” President Trump issued an Executive Order February 3 designating “core principles” of financial regulation, which include a directive to “rationalize the Federal financial...more

Financial Regulatory Reform in the Trump Administration

by Goodwin on

Summary - With the inauguration of President-elect Trump less than a week away, there is considerable speculation regarding what legal changes are in store for the financial services industry in the next administration....more

Enhanced Cyber Risk Management Standards Announced in Joint Rulemaking Initiative by Treasury, Federal Reserve, and FDIC

On October 19, 2016, the three major federal banking regulators announced a joint advance notice of proposed rulemaking (ANPR) for enhanced cyber risk management standards (Enhanced Standards) for large and interconnected...more

Orrick's Financial Industry Week in Review

FHFA Issues Final Rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets - On December 13, 2016, the Federal Housing Finance Agency (FHFA) issued a final rule implementing the Duty to Serve provisions...more

New Rules of the Cyber Road: Federal Banking Regulators Seek Comment by January 17, 2017 on Proposed Cybersecurity Regulations

by King & Spalding on

Continuing the trend of recent years, cybersecurity has remained at the top of the regulatory agenda for several federal and state agencies. For financial institutions, keeping track of the dizzying array of proposed...more

Banking Regulators Invite Comment On Cybersecurity Standards For Large Banks

by King & Spalding on

On Thursday, October 20, the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation jointly issued an advance notice of proposed rulemaking, requesting comments on...more

FinTech Developments: Financial Services Innovation Bill Introduced

by Womble Bond Dickinson on

In September 2016, Representative Patrick McHenry (R-NC) introduced H.R. 6118, the “Financial Services Innovation Act of 2016” (“FSIA”). FSIA is intended to encourage the development of financial products and services by...more

Financial Regulatory Developments Focus - September 2016

by Shearman & Sterling LLP on

In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more

Translating the success of UK fintech measures to the US

by White & Case LLP on

The successful growth of fintech within a region depends on myriad factors, but an unquestionably material one is the regulatory environment. Regulatory regimes that foster innovation and exercise oversight in a purposeful,...more

"Prudential Regulators Extend Swaps Clearing Exemptions and Exceptions to Non-Cleared Swap Margin Requirements"

On August 2, 2016, federal banking regulators (Prudential Regulators) adopted a final rule (PR Margin Exemptions) implementing exemptions from the Prudential Regulators’ impending initial and variation margin requirements for...more

Senators Ask Banking Agencies to Outline FinTech Oversight

by Morrison & Foerster LLP on

On July 21, 2016, Senators Sherrod Brown (D-Ohio) and Jeff Merkley (D-Ore.) sent a letter to the heads of five federal agencies requesting that they outline the steps they are taking to “ensure effective oversight” of the...more

State Banking Regulators Issue Annual Report

What were state banking regulators focused on last year? A new report from the Conference of State Bank Supervisors (CSBS) reveals that state regulators "increased coordination and collaboration between state regulators and...more

MJW to FSOC:  We’re On It

In a keynote address before the Investment Company Institute on May 20, 2016, SEC Chair Mary Jo White signaled to the Financial Stability Oversight Counsel (FSOC) that the SEC is “working hard” to finalize rules that address...more

Penny Proof for Deposits: Federal Banking Regulators Issue Interagency Guidance Regarding Deposit Reconciliation Practices

by Morrison & Foerster LLP on

On May 18, 2016, five federal banking agencies—the Board of Governors of the Federal Reserve System (“Board”), the Consumer Financial Protection Bureau (“CFPB”), the Federal Deposit Insurance Corporation (“FDIC”), the...more

Take Two: Incentive-Based Payment Arrangements Rule Reappears

For a second time, federal banking regulators are seeking comment on a jointly proposed rule that would impose restrictions on incentive-based pay arrangements....more

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