News & Analysis as of September 18, 2024

Federal Deposit Insurance Corporation › Department of Defense (DOD)

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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 -

Compacts Renewal Ushers in New Era of Relations Between the U.S. and Freely Associated States

Akin Gump Strauss Hauer & Feld LLP on 3/22/2024

When President Biden signed the Consolidated Appropriations Act into law on March 9, he dramatically altered U.S. relationships with the Republic of the Marshall Islands (RMI), the Republic of Palau, and the Federated States...more

Rocks and Hard Places: Noteworthy Developments in Climate Change Regulation for US Insurers

McDermott Will & Emery on 12/12/2022

This update highlights some of the most noteworthy climate change-related federal and state regulatory, judicial and other developments of the past few months, and offers insights that may help guide insurers in their...more

Financial Daily Dose 3.13.2020 | Top Story: COVID-19 Fears Push Wall Street to Worst Losses Since Black Monday

Robins Kaplan LLP on 3/13/2020

It’s been a week or so, and we’re running out of ways to say that this is bad. But it certainly is. Your bear market stats for the day: the biggest daily drop by percentage for both the S&P 500 and the Dow Jones Industrial...more

CFPB to participate in interagency MLA webinar

Ballard Spahr LLP on 11/22/2016

On December 1, 2016, the FDIC will co-host an interagency webinar that will focus on Military Lending Act regulations and the Department of Defense’s recently-released interpretive rule. In addition to a CFPB...more

FDIC Releases Revised MLA Exam Procedures and Sets Supervisory Expectations

Ballard Spahr LLP on 10/21/2016

On October 17, the FDIC released revised interagency Military Lending Act (MLA) examination procedures for use in connection with consumer credit transactions occurring on or after October 3, 2016. The revised procedures...more

DoD issues MLA interpretive rule

Ballard Spahr LLP on 9/9/2016

The Department of Defense (DoD) has issued an interpretive rule to assist the industry in complying with its July 2015 final rule amending the Military Lending Act’s implementing regulation. The much-anticipated guidance was...more

Trade groups seek extension of compliance date for Military Lending Act final rule

Ballard Spahr LLP on 9/2/2016

The American Bankers Association, joined by six other prominent industry trade groups, is seeking a six-month extension of the date by which depository institutions must comply with the Military Lending Act (MLA) final rule...more

CFPB endorses MLA expansion

Ballard Spahr LLP on 12/30/2014

In an effort to build support for the Department of Defense’s proposal to significantly expand Military Loan Act coverage, the CFPB has released a report entitled “The extension of high-cost credit to servicemembers and their...more

CFPB to issue whitepaper on methodology for identifying auto finance discrimination and consider use of advisory opinions

Ballard Spahr LLP on 6/20/2014

While Director Cordray’s appearance at the House Financial Services Committee’s hearing on the CFPB’s fifth Semi-Annual Report yesterday was accompanied by the usual dose of political theater, his testimony did yield the...more

FDIC Issues Final Rule Regarding Insured Deposits at Foreign Branches of U.S. Banks

Goodwin on 9/17/2013

The Board of Directors of the FDIC approved and the FDIC issued a final rule (the “Final Rule”) that excludes deposits in foreign branches of U.S. banks from the guarantee of FDIC insurance under the Federal Deposit Insurance...more

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Federal Deposit Insurance Corporation › Department of Defense (DOD)

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