News & Analysis as of

Community Banks

OCC’s call for study of separation of banking and commerce: revisited topic with a new twist

by Thompson Coburn LLP on

According to Acting Comptroller of the Currency Ken Noreika, the time is right to reconsider the U.S. policy of limiting the ability of banking and commercial businesses to mix together. ...more

Storytelling by Walt

by Bryan Cave on

As Jonathan and I mentioned on our podcast on succession planning a few weeks ago, our patriarch and founding father, Walt Moeling, formally retired at the end of 2016. However, his knowledge and influence continue to...more

Regulators Tackle Board Effectiveness and Overdrafts

by Bryan Cave on

Host Jonathan Hightower is joined by Ken Achenbach to discuss this week's proposed guidance from the Federal Reserve on the effectiveness of bank boards. In addition, at the outset of the episode Jonathan and Ken reviewed...more

It’s Not Much, but It’s a Start: The Regulators Freeze Certain Capital Requirements

by Vedder Price on

On August 22, 2017, the Office of the Comptroller of the Currency (the “OCC”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Board of Governors of the Federal Reserve System (the “FRB”) (the OCC, FDIC and FRB...more

Do you have an ATM-oriented board in an increasingly iPhone-oriented world?

by Bryan Cave on

In the run up to the Fourth of July holiday, you may have missed that June 27 was the 50th anniversary of the first ATM and June 29 was the 10th anniversary of the first iPhone. I was struck by the coincidence of these two...more

The Department of the Treasury Issues Recommendations on the Regulation of U.S. Depository Institutions

by Jones Day on

"A Financial System that Creates Economic Opportunities: Banks and Credit Unions," a Report by the Department of the Treasury, identifies potential reforms that would promote the "Core Principles for Regulating the United...more

Financial Services Weekly News - June 2017 #4

by Goodwin on

Editor's Note - Happy Independence Day. “The United States is the only country with a known birthday. All the rest began, they know not when, and grew into power, they know not how... There is no “Republican,” no...more

Convenience vs. Compliance: Behavior-Driven Marketing of Credit Products

by Bryan Cave on

Bryan Cave’s Ken Achenbach joins hosts Jonathan Hightower and Rob Klingler to discuss the data-driven marketing of credit products by financial services companies....more

North Carolina Supreme Court Adopts "Substantial Competent Evidence" Requirement for Borrowers Asserting "True Value" Defense in...

by Ward and Smith, P.A. on

On Friday, May 5, 2017, in a major victory for lenders, the North Carolina Supreme Court reversed the North Carolina Court of Appeals’s decision in United Community Bank v. Wolfe. In July 2015, the Court of Appeals decided in...more

Selling Your Mission to Shareholders

by Bryan Cave on

Kevin Strachan joins host Jonathan Hightower to discuss ideas for banks to highlight community involvement in their shareholder meetings. Below are links to some resources mentioned in the show. Financial Choice Act 2.0...more

House Financial Services Committee Holds Hearing on the Financial CHOICE Act of 2017

by Morrison & Foerster LLP on

On April 26, 2017, the Financial Services Committee of the U.S. House of Representatives held a hearing entitled "A Legislative Proposal to Create Hope and Opportunity for Investors, Consumers, and Entrepreneurs." The purpose...more

Banks and Credit Unions Agree to a (Temporary) Cease Fire

by Ruder Ware on

It’s not every day that community bankers and credit unions agree. Whether it is over tax-exempt status or capital requirements, we have become accustomed to the battle between community banks and credit unions. For example,...more

Analysis of FDIC v. Loudermilk Decision

by Bryan Cave on

The FDIC’s lawsuit against former directors and officers of the failed Buckhead Community Bank, one of the most closely watched Georgia corporate governance cases in years, went to trial in October, 2016. The jury returned a...more

We Should Be Friends: Community Banks and Fintech Companies

by Hogan Lovells on

Community banks play an essential role in the American financial system – they provide the majority of small business and farm loans, as well as mortgage and general banking services. In addition, community banks remain one...more

CFPB Community Bank Advisory Council to meet April 25

by Ballard Spahr LLP on

On April 25 2017, the CFPB will hold a meeting of its Community Bank Advisory Council in Washington, D.C. at which Acting Deputy Director David Silberman will give remarks....more

OCC won’t allow fintech national bank charters for commercial firms, addressing potential Walmart fintech bank concerns

by Thompson Coburn LLP on

The Office of the Comptroller of the Currency issued guidance this week stating that it will not approve any fintech national bank application that would “inappropriately commingle banking and commerce,” citing potential...more

NAFCU urges regulatory relief for credit unions in letter to Secretary of the Treasury Mnuchin

by Ballard Spahr LLP on

On February 28, 2017, B. Dan Berger, President and Chief Executive Officer of the National Association of Federally-Insured Credit Unions (the “NAFCU“), urged regulatory relief for credit unions in a letter submitted to the...more

Impact of Proposed “Regulatory Off-Ramp” for Community Banks

by Bryan Cave on

A key component of the proposed roadmap for Republican efforts to provide regulatory relief is based on reduced regulatory burdens in exchange for holding higher capital levels. Specifically, Title I of the proposed Financial...more

Community banks trade group asks Trump Administration to curb fair lending enforcement

by Ballard Spahr LLP on

The Independent Community Bankers of America issued a statement calling on the Trump administration “to rein in the overzealous application of fair lending laws.” ICBA stated that community banks are threatened by a recent...more

A Secretary of the Treasury who understands Main Street and Wall Street?

by Ruder Ware on

Last week, Steven Mnuchin, President Donald Trump’s nominee to run the Treasury Department faced a nearly six-hour grilling by Senate Finance Committee Republicans and Democrats, alike. The former Goldman Sachs executive was...more

2017 Resolutions for Community Banks: A Focus on Cybersecurity

by Hogan Lovells on

In December 2016, Thomas Curry, the Comptroller of the Currency, stated that cybersecurity was the single greatest systemic threat to our financial system. He was not being hyperbolic. Cybersecurity should be on...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Prohibition on Dealing or Investing in Industrial or Commercial Metals - On January 3, 2017, the Office of the Comptroller of the Currency (the "OCC") finalized a rule that...more

Dodd-Frank and Other Laws Facing Indefinite Future in 2017

As 2017 begins, financial markets and the regulators that oversee them are facing significant uncertainty. When President-elect Donald Trump assumes the Oval Office on Jan. 20, all indications suggest that it will mark a...more

Regulators’ Christmas Gift to Banks: 18-Month Examination Cycle

by Ruder Ware on

Earlier this month, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued final interagency rules which will reduce regulatory...more

NYS Cyber Regulation Gets Drubbing by Industry Groups in Albany

Industry groups continued their assault yesterday on New York’s “first-in-the-nation” cybersecurity regulation by telling state lawmakers that the proposed regime was inflexible and unfairly burdened smaller institutions....more

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