News & Analysis as of September 20, 2024

Federal Deposit Insurance Corporation › Bank Holding Company

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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 -

FDIC releases NPRM for parent companies of industrial entities

Orrick, Herrington & Sutcliffe LLP on 8/8/2024

On July 30, the FDIC released an NPRM to regulate parent companies of industrial banks and industrial loan companies (the industrial entities). The proposed rule would revise the definition of “Covered Company” to include...more

Nutter Bank Report: August 2023

Nutter McClennen & Fish LLP on 8/31/2023

A federal court has issued an order granting an injunction that delays the compliance dates for the CFPB’s final rule governing the collection of small business lending data required by Section 1071 of the Dodd-Frank Wall...more

An Introduction to the Unique Issues in Bank Holding Company Bankruptcies

Skadden, Arps, Slate, Meagher & Flom LLP on 3/20/2023

On March 17, 2023, the parent of Silicon Valley Bank (SVB) filed for Chapter 11 protection in the Southern District of New York. Unlike SVB itself, its parent, as a bank holding company, was eligible for Chapter 11. In the...more

Democratic Senators introduce bill to close industrial loan company “loophole”; coalition of financial services and consumer...

Ballard Spahr LLP on 12/8/2022

Earlier this week, Senator Sherrod Brown (D-Ohio) introduced a bill, the “Close the Shadow Banking Loophole Act,” (Act) that is intended to close what is often termed a “loophole” in the Bank Holding Company Act (BHCA)...more

Promissory Notes - Banking & Finance Insights: Issue 12, December 2022

Spilman Thomas & Battle, PLLC on 12/7/2022

US Senators Ask SoFi About Its Banking Law Compliance = “Four U.S. senators have signed a letter to SoFi Technologies CEO Anthony Noto expressing concerns about the online personal finance company and online bank’s digital...more

Nutter Bank Report: May 2021

Nutter McClennen & Fish LLP on 6/1/2021

Court Rules that Debt Collector Violated FDCPA with Communication to Dunning Vendor - A federal appellate court has recently ruled that a debt collector violated certain privacy requirements under the federal Fair Debt...more

Noteworthy developments in payments and fintech - March 2021

Eversheds Sutherland (US) LLP on 4/16/2021

Industrial bank charters continue to gain momentum with approval of Square’s charter; payments and tech companies have become interested in industrial banks lately since the FDIC started approving them after a moratorium from...more

Nutter Bank Report: January 2021

Nutter McClennen & Fish LLP on 1/28/2021

Updated Annual Meeting Guidance for Mutual Banks and Mutual Holding Companies - The Massachusetts Division of Banks has issued new guidance to mutual banks and mutual holding companies that have not yet held their 2020...more

FDIC Finalizes Supervisory Regime For Industrial Banks And Their Controlling Shareholders

Morrison & Foerster LLP on 12/29/2020

On December 15, 2020, the Federal Deposit Insurance Corporation (“FDIC”) issued a final rule (“Final Rule”) setting forth standards to apply to controlling shareholders of industrial banks that are not subject to consolidated...more

SEC Adopts Rule Providing New Regulatory Framework For Fund-Of-Funds

Goodwin on 10/22/2020

In the News. The Securities and Exchange Commission (SEC) announced that it adopted Rule 12d1-4 under the Investment Company Act of 1940 (the 1940 Act), providing a new regulatory framework for fund-of-funds and final...more

Regulatory Agencies Finalize Changes to Covered Fund Provisions of the Volcker Rule

Orrick - Finance 20/20 on 9/3/2020

On July 31, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FRB), the U.S. CFTC, the Federal Deposit Insurance Corporation (FDIC), and the U.S. Securities and...more

High Court Tax Refund Ruling Indicates State Law Authority

Kilpatrick on 5/26/2020

On Feb. 25, The U.S. Supreme Court issued its decision in Rodriguez v. Federal Deposit Insurance Corp., a case involving a dispute between (1) the trustee in bankruptcy of a defunct bank holding company, and (2) the FDIC, as...more

Federal Banking Agencies Provide Temporary Relief from Compliance with Regulation O for Investment Advisers to Large Fund...

Dechert LLP on 2/10/2020

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (Federal Banking Agencies) on December 27, 2019 provided temporary relief from...more

Top 10 Things to Know About the Final HVCRE Rule

Dechert LLP on 2/3/2020

The Federal Reserve, OCC and FDIC have (finally) issued the Final HVCRE Rule (for background, our analysis of the 2018 Notice of Proposed Rulemaking and 2019 Notice of Proposed Rulemaking are here and here), regarding High...more

Two steps closer – FDIC and OCC approve Volcker Rule changes

Eversheds Sutherland (US) LLP on 8/25/2019

On August 20, 2019, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) approved amendments to the regulations implementing Section 13 of the Bank Holding Company Act,...more

Fintech in Brief: The Federal Reserve Proposes Revisions to Its Control Determination Framework

Nutter McClennen & Fish LLP on 5/1/2019

The Board of Governors of the Federal Reserve System (the “Federal Reserve”) has released for public comment a proposal to simplify and clarify rules for determining control of or by a banking organization under the Bank...more

Should Your Bank Consider Eliminating Its Parent Bank Holding Company?

Holland & Knight LLP on 2/6/2018

• After the April 2017 announcement that Bank of the Ozarks in Little Rock, Ark., had decided to eliminate its bank holding company in favor of operating directly through its bank subsidiary, a number of banks have followed...more

Financial Services Weekly News - December 2017

Goodwin on 12/7/2017

Editor's Note - We Don’t Need No Stinking Badges. In 2013, former financial advisor, Raymond Lucia, was fined and barred from the industry by the Securities and Exchange Commission (SEC) for material misrepresentations to...more

Federal Banking Agencies Announce No-action Position on Certain Foreign Excluded Funds Under the Volcker Rule

Morrison & Foerster LLP on 7/25/2017

Section 13 of the Bank Holding Company Act of 1956, as amended, and its implementing regulations (the “Volcker Rule”) generally prohibit a “banking entity” from engaging in proprietary trading and from investing in,...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 7/14/2017

Federal Reserve and FDIC Post Resolution Plans for Eight Major Financial Firms - On July 5, 2017, the Federal Reserve Board (the "Board") and the Federal Deposit Insurance Corporation ("FDIC") posted the public portions of...more

Certain Companies that May be Subject to FDIC Orderly Liquidation Authority under Dodd-Frank are Now Subject to Qualified...

Dechert LLP on 3/8/2017

Companies that the Financial Stability Oversight Council (FSOC) believes may be subject to FDIC receivership under the Orderly Liquidation Authority contained in Title II of the Dodd-Frank Act, and certain of their...more

A Closer Look at the Final TLAC Rule’s Requirements for IHCs

Morrison & Foerster LLP on 12/23/2016

On December 15, 2016, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) issued final rules requiring global systemically important banks (“G-SIBs”) in the United States, including bank holding...more

Bank Regulators Issue Notice of Proposed Rulemaking on Enhanced Cyber Risk Management Standards

Stinson - Corporate & Securities Law Blog on 10/20/2016

Three federal banking regulatory agencies have approved an advance notice of proposed rulemaking (ANPR) inviting comment on a set of potential enhanced cybersecurity risk-management and resilience standards that would apply...more

Nutter Bank Report, April 2016

Nutter McClennen & Fish LLP on 4/29/2016

The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group. Headlines 1. FDIC Approves Proposed Rule to Limit Incentive-Based Compensation Arrangements 2. Congress Considers...more

Observation 3.0: Frequently Asked Questions and Answers on the Volcker Rule and the Implications for Foreign Banks Investing in...

Troutman Pepper on 10/20/2015

1. Question: What is the Volcker Rule, and when does it take effect? Answer: The Volcker Rule was enacted into law as section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank...more

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Federal Deposit Insurance Corporation › Bank Holding Company

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