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Federal Deposit Insurance Corporation › Comptroller

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 -
Troutman Pepper

Acting Comptroller of the Currency Michael J. Hsu Issues Statements Supporting Insured Depository Institution Plan Rule at FDIC...

Troutman Pepper on

On August 29, at a Board Meeting for the Federal Deposit Insurance Corporation (FDIC), Comptroller of the Currency Michael J. Hsu issued a statement supporting the insured depository institution (IDI) Resolution Plan Rule,...more

Nutter McClennen & Fish LLP

Nutter Bank Report: May 2023

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FDIC Announces Special Assessments to Recover Losses from Recent Bank Failures The FDIC has issued a proposed rule that would impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, October 14, 2022

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October 13, 2022- Chairwoman of the House Committee on Financial Services, joined Professor Chris Brummer, Professor at Georgetown University Law Center and founder of DC Fintech Week, at DC Fintech Week to discuss...more

Sheppard Mullin Richter & Hampton LLP

OCC Highlights Focus on Crypto and Bank-FinTech Partnerships, Anticipates Stricter Scrutiny Going Forward

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On September 7, Acting Comptroller of the Currency, Michael Hsu, discussed the long-term threats to trust in banking in remarks at the TCH + BPI Annual Conference. Hsu provided updates on key priorities at the OCC, including...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday, August 3, 2022

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August 2, 2022- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "'The Rent Eats First': How Renters and Communities are Impacted by Today's Housing Market."...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday, June 21, 2022

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Federal Agencies- Federal Reserve Board- Speech: Lessons Learned on Normalizing Monetary Policy- June 20, 2022- Federal Reserve Board Governor Christopher J. Waller gave a speech entitled, "Lessons Learned on Normalizing...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, June 10, 2022

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Congress- U.S. Senate- Committee on Banking, Housing, and Urban Affairs- Committee Advances Fed and SEC Nominees-...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday, May 25, 2022

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Major Developments- Federal Deposit Insurance Corporatio Quarterly Banking Profile: Insured Institutions Reported Net Income of $59.7 Billion in First Quarter 2022-...more

ArentFox Schiff

Federal Law to the Rescue?

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Snidely Whiplash kidnaps Nell and, in the show’s opening, ties her to the railroad tracks to get even with his nemesis, Dudley Do-Right, of the famed Royal Canadian Mounted Police. Menacing music plays. In each episode,...more

ArentFox Schiff

US and International Regulators Take Aim at Stablecoin Issuers

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Regulatory Guidance Aims to Apply Banking Regulations to Stablecoin Issuers - On November 1, 2021, an interagency group consisting of the President’s Working Group on Financial Markets (PWG), the FDIC, and the Office of the...more

Sheppard Mullin Richter & Hampton LLP

OCC: Crypto and DeFi Must Avoid Another Financial Crisis

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Michael Hsu, the acting chief of the Office of the Comptroller of the Currency, recently addressed his remarks to the Blockchain Association drawing similarities between the current growth of cryptocurrencies and...more

Goodwin

FDIC Seeks Comment on Supervisory Approach to Examinations During Pandemic

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) is seeking information and comment regarding the FDIC’s supervisory approach to examinations during the pandemic; the FDIC’s tech lab, FIDTECH, announced a “tech...more

Goodwin

Tenth Circuit Upholds District Court’s Ruling Finding No Breach of Fiduciary Duties in Section 36(b) Case

Goodwin on

In This Issue. The federal bank regulators published frequently asked questions concerning the London Interbank Offered Rate transition; the Consumer Financial Protection Bureau (CFPB) confirmed an effective date for two...more

McGlinchey Stafford

U.S. House Of Representatives Votes To Override OCC True Lender Rule

McGlinchey Stafford on

The U.S. House of Representatives on June 24th voted 218 to 208 to repeal the Office of the Comptroller of the Currency’s (OCC) “True Lender” rule under the Congressional Review Act (CRA). As discussed in earlier alerts, the...more

Goodwin

Fed Invites Public Comment on Proposed Changes to Durbin Amendment

Goodwin on

In this Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) invited public comment on proposed changes to Regulation II, better known as the Durbin Amendment, regarding network availability for...more

Morrison & Foerster LLP

Financial Services Report - Spring 2021

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Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

McGlinchey Stafford

True Lender Update: States vs. OCC; No FDIC Rule; Possible State True Lender Rules?

McGlinchey Stafford on

In recent months, we’ve provided several updates on “True Lender” and “Valid When Made” developments from the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and state...more

Goodwin

Five Federal Financial Agencies Propose Rule to Clarify Role of Supervisory Guidance

Goodwin on

On November 5, 2020, the Federal Register published five federal financial regulatory agencies’ invitation for comment on a notice of proposed rulemaking (NPR) that would codify the agencies’ Interagency Statement Clarifying...more

Goodwin

OCC Finalizes “True Lender” Rule

Goodwin on

In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more

Bradley Arant Boult Cummings LLP

NYDFS’s New (and Expanded) Servicer Vendor Management Expectations

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Originally proposed by the New York Department of Financial Services (NYDFS) in 2019 and constituting what the Mortgage Bankers Association has described as “the first major update to Part 419 since its adoption almost 10...more

A&O Shearman

US Federal Financial Regulators Issue Final Rule Exempting Commercial Real Estate Transactions of $500,000 or Less from Appraisal...

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The U.S. Office of the Comptroller of the Currency, U.S. Board of Governors of the Federal Reserve System and the U.S. Federal Deposit Insurance Corporation issued a final rule that exempts commercial real estate transactions...more

Goodwin

Financial Services Weekly News - December 2017

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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

Goodwin

Financial Services Weekly News - May 2017 #2

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Editor's Note - In this Issue. The House Financial Services Committee passed the Financial CHOICE Act that would make significant changes to the Consumer Financial Protection Bureau; the U.S. Securities and Exchange...more

Dechert LLP

US Comptroller of the Currency Will Offer Limited Purpose National Bank Charters to Fintech Companies

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The Comptroller of the Currency, Thomas Curry, announced on December 2, 2016, that the Office of the Comptroller of the Currency (OCC) intends to move forward with issuing limited purpose national bank charters to financial...more

King & Spalding

Banking Regulators Invite Comment On Cybersecurity Standards For Large Banks

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On Thursday, October 20, the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation jointly issued an advance notice of proposed rulemaking, requesting comments on...more

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