News & Analysis as of

Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain... more +
The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships.  less -
Nelson Mullins Riley & Scarborough LLP

More Data Needed to Counter Narrative Linking Bank/FinTech Relationships with "Bank Runs"

Nelson Mullins Riley & Scarborough LLP on

In a recent news release, Acting Comptroller of the Currency Michael J. Hsu reiterated the Office of the Comptroller of the Currency's (OCC) support for the FDIC's Notice of Proposed Rulemaking on the brokered deposit rule....more

Perkins Coie

FDIC’s Proposed Changes to Custodial Deposit Accounts: Practical Implications for Fintechs and Their Banks

Perkins Coie on

The Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking (the Proposal) on September 17, 2024, that seeks to strengthen recordkeeping for bank deposits held by nonbank companies on behalf of...more

Orrick, Herrington & Sutcliffe LLP

DOJ announces its withdrawal from the 1995 Bank Merger Guidelines

Orrick, Herrington & Sutcliffe LLP on

On September 17, the DOJ announced its withdrawal from the 1995 Bank Merger Guidelines, stating the 2023 Merger Guidelines will be the only authoritative statement across all industries. This decision followed collaboration...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Modernization of the US Bank Merger Review Process Begins

Skadden, Arps, Slate, Meagher & Flom LLP on

On September 17, 2024, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) issued formal statements of policy on reviewing transactions under the Bank Merger Act (BMA). The...more

Orrick, Herrington & Sutcliffe LLP

Banking regulators extend comment period on bank-fintech relationships

Orrick, Herrington & Sutcliffe LLP on

On September 13, the Fed, OCC and the FDIC (the agencies) released a notice extending the comment period of their request for information regarding bank-fintech arrangements by one month. The notice extends the original...more

Orrick, Herrington & Sutcliffe LLP

FDIC issues list of banks examined for CRA compliance

Orrick, Herrington & Sutcliffe LLP on

On September 4, the FDIC released its latest evaluations of state nonmember banks for compliance under the CRA. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 requires public disclosure of...more

Troutman Pepper

FDIC and OCC Finalize New Guidelines on Bank Mergers

Troutman Pepper on

Yesterday, both the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) finalized new guidelines regarding bank mergers. According to the agencies, these updates aim to enhance...more

Troutman Pepper

FDIC Proposes New Rule to Strengthen Recordkeeping for Third-Party Deposits

Troutman Pepper on

On September 17, the Federal Deposit Insurance Corporation (FDIC) announced a notice of proposed rulemaking (Proposal) aimed at enhancing recordkeeping for bank deposits received from fintech and other third-party, non-bank...more

Orrick, Herrington & Sutcliffe LLP

FDIC sunsets its FFIEC Cybersecurity Assessment Tool

Orrick, Herrington & Sutcliffe LLP on

On September 5, the FFIEC announced the sunsetting of the Cybersecurity Assessment Tool (CAT) on August 31, 2025. The CAT, introduced in June 2015, was a voluntary tool designed to help financial institutions identify...more

Fenwick & West LLP

FDIC Proposes More Oversight on Custodial Deposit Accounts

Fenwick & West LLP on

On September 17, the Federal Deposit Insurance Corporation (FDIC) proposed a new rule that would significantly impact the risk management and oversight requirements for bank-fintech arrangements. This proposal comes in...more

Venable LLP

Custody Battles: The FDIC's Latest Proposed Rule on FBO Accounts

Venable LLP on

The FDIC has issued a proposed rule that would apply to practically all bank-fintech arrangements that use custodial deposit accounts to provide customers with transactional features (also called "FBO" accounts for short)....more

Nelson Mullins Riley & Scarborough LLP

FDIC Reemphasizes Focus on FinTech Partnerships and Account Reconciliation

Nelson Mullins Riley & Scarborough LLP on

In what should come as no surprise to FinTech sponsor banks, the FDIC is reemphasizing the need to maintain control over synthetic account ledgers in the wake of the Synapse collapse. On September 17, the FDIC's rulemaking...more

Paul Hastings LLP

Daily Financial Regulation Update -- Monday September 16

Paul Hastings LLP on

September 13, 2024 - The General Counsel of the CFPB delivered a speech to the Poverty Law Conference addressing the variety of consumer protection laws that protect impoverished individuals and how innovation and financial...more

Katten Muchin Rosenman LLP

Basel III Endgame: Will Banks Have to Increase Their Capital Requirements?

Katten Muchin Rosenman LLP on

On Tuesday, September 10, the Federal Reserve announced a reproposal of the much discussed and awaited Basel III Endgame. However, before we dive into the reproposal, it is important to take a step back and look at how we got...more

Troutman Pepper

Where the F(BO) Is the Money? Part 1 – Synapse’s Clarion Call for Standards

Troutman Pepper on

This is the first of three articles focused on a key question: as bank-fintech partnerships continue to play a vital role in driving financial services, how does the industry make this system safer and better?...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases seven enforcement actions for June and July 2024

Orrick, Herrington & Sutcliffe LLP on

On August 30, the FDIC released a list of seven administrative enforcement actions taken against banks and individuals in June and July. The public orders comprised six safety and soundness orders, two of which were consent...more

Orrick, Herrington & Sutcliffe LLP

Suit against FDIC argues the agency is “unconstitutional” and violates Jarkesy

Orrick, Herrington & Sutcliffe LLP on

Recently, the U.S. District Court for the District of Columbia received a complaint from an individual plaintiff suing the FDIC, its heads, board members and an administrative law judge (ALJ) for allegedly subjecting the...more

Orrick, Herrington & Sutcliffe LLP

FDIC announces updates to its examination handbook

Orrick, Herrington & Sutcliffe LLP on

On August 29, the FDIC announced that the Federal Financial Institutions Examination Council (FFIEC) updated its examination handbook. These updates revised specific parts and renamed it from the “Development and Acquisition”...more

Latham & Watkins LLP

FDIC Proposes to Revise Brokered Deposit Regulations

Latham & Watkins LLP on

The proposal would make key changes to the definition of “deposit broker” with significant ramifications for banks, fintechs, bank-fintech partnerships, and other third parties in the financial services industry....more

Littler

FDIC Approves Final Rule to Update Its Section 19 Regulations – Insured Depository Institutions Have Until October 1, 2024 to...

Littler on

On July 30, 2024, the Federal Deposit Insurance Corporation (“FDIC”) Board of Directors approved a final rule that updates the FDIC’s regulations concerning Section 19 of the Federal Deposit Insurance Act, 12 U.S.C.§ 1829...more

Venable LLP

Banking on a Nonbank Bank in 2024 - The ILC Option Revisited

Venable LLP on

Becoming or owning an industrial loan company (or ILC)—the elusive "nonbank bank" option, as Congress coined the term in 1987— still has an allure for financial services providers that want to (1) lend on a national scale...more

Pillsbury - Global Sourcing Practice

U.S. Financial Regulators Continue Focus on Bank-Fintech Partnerships through Guidance and Request for Information

Pillsbury - Global Sourcing Practice on

On July 25, 2024, the Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued a joint statement describing potential...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday September 5

Paul Hastings LLP on

September 4, 2024- The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled “AI and the Labor Market: Will Firms Hire, Fire, or Retrain?” September 4, 2024- The Bank Policy Institute...more

Cooley LLP

FDIC’s Proposed Brokered Deposit Rule Could Adversely Impact Fintech-Bank Partnerships

Cooley LLP on

In late July 2024, the Federal Deposit Insurance Corporation (FDIC) board of directors proposed a rule that would revise its standards on banks accepting brokered deposits. The proposed rule would expand the definition of...more

Ballard Spahr LLP

Defendant Challenges FDIC Enforcement Proceeding, Citing Jarkesy

Ballard Spahr LLP on

In one of the first tests of the implications of the Jarkesy decision for other federal regulatory agencies, an individual accused by the FDIC of participating in fraudulent loan activity is asking a federal judge to dismiss...more

2,948 Results
 / 
View per page
Page: of 118
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide