Consumer Finance Monitor Podcast Episode: What is FedNow and its Role in the U.S. Payments System?
Regulators Tackle Board Effectiveness and Overdrafts
Convenience vs. Compliance: Behavior-Driven Marketing of Credit Products
Selling Your Mission to Shareholders
Banking regulators have issued a joint statement outlining the potential risks that financial institutions face in arrangements with third parties to deliver bank deposit products and services and examples of risk management...more
As banking and technology become more integrated, banks are increasingly partnering with fintechs to expand their customer offerings. The rapid rise of these partnerships has generated questions for both banks and fintechs on...more
On May 3, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency (collectively, the agencies) released a guidebook aimed at assisting...more
It is no secret that the Federal Reserve, the FDIC, and the OCC have zeroed in on banks' use of third parties for products, services, and other operations, the risks those arrangements may pose, and banks' responsibility to...more
On February 5, several trade groups, including the American Bankers Association, the Independent Community Bankers of America, and the U.S. Chamber of Commerce, filed suit against the Federal Reserve Board, the FDIC, and the...more
On November 29, the FDIC released the Third Quarter 2023 Quarterly Banking Profile for FDIC-insured community banks, reporting an aggregate net income of $68.4 billion in the third quarter of 2023, which is down $2.4 billion...more
Our special guest is Professor Dan Awrey of Cornell Law School. In July 2023, the Federal Reserve launched FedNow, its instant payments system. After reviewing what FedNow is (and is not), we discuss FedNow’s design features...more
The Federal Reserve released a detailed report on the supervision and regulation of the former Silicon Valley Bank (SVB). The report, released along with a trove of confidential supervisory information pertaining to SVB,...more
The recent issues involving community and regional banks, such as Silicon Valley Bank, Signature Bank, and First Republic, have led depositors to flock to the larger banks, such as Chase. Chase’s CFO Jeremy Barnum, in Chase’s...more
On Friday, March 10, the Federal Deposit Insurance Corporation (“FDIC”) announced its takeover of Silicon Valley Bank (“SVB”) as SVB’s appointed receiver. SVB, as the primary lender to some of the biggest tech firms, was...more
In this Issue. The Office of the Comptroller of the Currency (OCC) is seeking feedback on principles for climate-related financial risk management for large banks; the Department of Justice’s Antitrust Division is seeking...more
In This Issue. The Consumer Financial Protection Bureau (CFPB) withdrew its proposal to delay the Debt Collection Final Rules; the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance...more
The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide)....more
On June 30, 2020, the Federal Deposit Insurance Corporation (the “FDIC”) announced the start of a rapid prototyping competition among 20 data and technology firms to develop a new and innovative approach to financial...more
The $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted late last week. Designed to provide emergency economic assistance to businesses, families, and individuals, the CARES Act also...more
On March 27, 2020, Congress approved the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide financial assistance to individuals and businesses, which in aggregate greatly exceeds the financial package...more
The COVID-19 related stimulus bill (Coronavirus Aid, Relief, and Economic Security Act or CARES Act) provides relief to the banking industry directly. The CARES Act authorizes guarantees of bank-issued debt and...more
In This Issue. The Federal Deposit Insurance Corporation (FDIC) published new procedures for federal deposit insurance applications from applicants that are not traditional community banks; federal banking regulators released...more
Our Financial Services & Products Group examines how the new community bank leverage ratio could reduce regulatory burdens on some community banks – and the risks involved....more
On October 29, the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board (FRB) adopted a final rule that simplifies capital requirements for community banks. ...more
Federal Banking Agencies Adopt Simplified Capital Calculation for Community Banks The federal banking agencies have issued a final rule that will simplify capital requirements for community banks by allowing them to adopt...more
On September 17, 2019, the Federal Deposit Insurance Corporation (the “FDIC”) passed a final rule providing qualifying community banking organizations the ability to opt-in to a new community bank leverage ratio (“CBLR”)...more
Yes. The Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA) provided significant regulatory relief for community banks, including broad relief from the Volcker Rule’s prohibition on proprietary...more
FDIC Approves 3-Year Phase-In for Adverse Effects on Capital from CECL - The FDIC has approved a final rule that will provide banks with the option to phase in over a three-year period the day-one adverse effects on...more
On November 21, 2018, the federal banking agencies (the “Agencies”) released a proposal (the “Proposed Rule”) to simplify the regulatory capital requirements for qualifying community banking organizations (QCBOs) (i.e.,...more