An industrial bank or industrial loan company (each, an ILC) charter can be an attractive option for a financial technology company (fintech) or other company seeking to enter the banking space. In June 2024, the Federal...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
Federal financial regulators issued a rule excluding community banks from the Volcker Rule regulations. This rule conforms the regulations to similar statutory changes enacted in May 2018. On July 9, 2019, the Board of...more
Federal Banking Agencies Expand Eligibility to Use Streamlined Call Reports - The federal banking agencies have adopted a final rule to reduce regulatory reporting requirements for certain banks with total assets of less...more
The public comment period for the banking agencies’ capital simplification rules for qualifying community banking organizations (i.e. the Community Bank Leverage Ratio proposal) are due on Tuesday, April 9th. As previously...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
Federal Banking Agencies Propose Alternative Capital Framework for Community Banks - The federal banking agencies have proposed a new community bank leverage ratio (“CBLR”) framework that would simplify regulatory capital...more
The Economic Growth, Regulatory Relief, and Consumer Protection Act takes effect on Friday, September 21. The act modifies the Dodd-Frank Wall Street Reform and Consumer Protection Act in a variety of ways, including with...more
Headlines - ...OCC to Begin Accepting Applications for Bank Charters for Fintech Companies ...Agencies Issue Rules Implementing 18-Month Exam Cycles for Community Banks...more