The U.S. Department of Justice (DOJ) and state authorities have agreed to a consent order with a large national bank to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by affecting...more
In This Issue. In a speech to the Urban Institute in Washington, DC, Federal Reserve Governor Lael Brainard outlined the viewpoint of the Board of Governors of the Federal Reserve System (Federal Reserve Board) on...more
First Post in a Two-Part Series - Late last week, the U.S. Senate Committee on Banking, Housing, and Urban Affairs (the “Banking Committee”) met in open session to conduct a hearing on “Combating Money Laundering and Other...more
The U.S. Federal Deposit Insurance Corporation published a proposal (FIL-46-2018) seeking comment with respect to the retirement of certain Financial Institution Letters. FILs are letters that typically announce various...more
On September 27, 2017, the Federal Reserve, FDIC and OCC released a Notice of Proposed Rulemaking (NPR) that they describe as simplifying compliance with certain aspects of the agencies’ risk based capital (RBC) rules to,...more
We have written several times about the rules concerning the appropriate risk weighting for High Volatility Commercial Real Estate (“HVCRE”) loans. The interagency FAQ published on April 6, 2015 provided some guidance but...more
Member agencies of the Federal Financial Institutions Examination Council (FFIEC), including the Federal Reserve Board, FDIC, OCC and the National Credit Union Administration issued a joint report to Congress detailing their...more
Financial Industry Developments - SEC Adopts T+2 Settlement Cycle for Securities Transactions - On March 22, 2017, the Securities and Exchange Commission (SEC) adopted an amendment to Rule 15c6-1(a), shortening the...more
The Federal Financial Institutions Examination Council (FFIEC) on Friday announced that it will accept public comment on proposed revisions to the existing Consolidated Reports of Condition and Income (FFIEC 041) that would...more
On March 14, 2016, the Office of the Comptroller of the Currency (OCC) proposed a number of changes to its rules in order to reduce the regulatory burden for its supervised financial institutions. Such an effort is part of...more
On December 17, the Federal Financial Institutions Examination Council, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and Board of Governors of the Federal Reserve (collectively, federal...more
SEC/CORPORATE SEC Division of Corporation Finance Issues New C&DIs on FAST Act - As previously reported, President Obama signed into law the Fixing America’s Surface Transportation Act (FAST Act) on December 4. The...more
On October 28, 2015, the Federal Deposit Insurance Corporation (FDIC) published in the Federal Register final rules to streamline the filing requirements and processing procedures within its regulations implementing the...more
On September 28, the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC) (collectively, federal banking agencies) announced that they will hold an outreach...more