News & Analysis as of

Federal Deposit Insurance Corporation › Financial Transactions

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 -
Ballard Spahr LLP

Democratic Senators continue to pressure Zelle and other payment apps to change fraud policies

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On February 15, 2024, Senators Sherrod Brown (D-OH), Jack Reed (D-RI) and Elizabeth Warren (D-MA) sent a letter to Zelle seeking clarification of its reimbursement policy for victims of imposter scams and urging Zelle to...more

Cadwalader, Wickersham & Taft LLP

Special Alert: SVB/Signature Receiverships: Key Impacts of SVB/Signature Receiverships on Fund Finance Transactions

Cadwalader, Wickersham & Taft LLP on

It has been a chaotic 72 hours, with changing facts, breaking news and unexpected developments. The market turmoil has kept us scrambling to figure out how best to get deals closed, to keep money moving and to meet our...more

Cadwalader, Wickersham & Taft LLP

Bank Regulators Issue Joint Statement on Crypto-Asset Risks

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On the first business day of the year, January 3, 2023, the Board of Governors of the Federal Reserve System (“the Fed”), the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency...more

Latham & Watkins LLP

Federal Reserve Issues Cryptoasset Engagement “Rules of the Road” for Its Supervised Banking Organizations

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The Federal Reserve is taking measured steps to better understand the types of cryptoasset-related activities contemplated by its supervised banking organizations. On August 16, 2022, the Board of Governors of the...more

Cadwalader, Wickersham & Taft LLP

FDIC Weighs In on Crypto Activities

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Last week, the FDIC issued a Financial Institution Letter (“FIL”) related to crypto activities, following in some ways in the footsteps of the OCC in requiring notice to the regulator before engaging in crypto-related...more

Katten Muchin Rosenman LLP

FDIC Requires Reporting of Crypto-Related Activities

Katten Muchin Rosenman LLP on

Any Federal Deposit Insurance Corporation (FDIC)-supervised institution that is considering engaging in crypto-related activity must now notify the FDIC of its intent and provide all necessary information to create a dialogue...more

Goodwin

Agencies Launch Digital Identity Tech Sprint

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC), the FDIC Tech Lab (FDITECH) and the Financial Crimes Enforcement Network (FinCEN) launched a digital identity Tech Sprint; FinCEN published a 60-day notice to...more

Bilzin Sumberg

Regulators Gallop To Cryptocurrency's "Wild West"

Bilzin Sumberg on

Even enthusiastic participants in the booming cryptocurrency sector have at times described it as having a distinctly “Wild West” feel at this relatively early stage of its development. Lately, though, there has been no...more

Dechert LLP

President’s Working Group on Financial Markets Issues Report on Stablecoins

Dechert LLP on

The President’s Working Group on Financial Markets (PWG), joined by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (OCC), released a Report on Stablecoins (Report) on November 1,...more

Mayer Brown Free Writings + Perspectives

US Financial Regulators Release Much-Anticipated Report on Stablecoins

Mayer Brown Free Writings + Perspectives on

On November 1, 2021, the President’s Working Group on Financial Markets (PWG) released its much-anticipated Report on Stablecoins (Report). The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of...more

Foodman CPAs & Advisors

While FinCEN lacks Independent Litigating Authority, it is the Regulator for the BSA and is responsible for the administration of...

Foodman CPAs & Advisors on

FinCEN issues implementing regulations that “ensure” compliance with the BSA.  FinCEN delegates its examination authority to federal agencies.  These federal agencies are the “Federal Functional Regulators” who supervise...more

Mayer Brown

FDIC Adopts Changes to Securitization Safe Harbor Rule

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Since its adoption in 2010, the Federal Deposit Insurance Corporation’s (the “FDIC”) securitization safe harbor rule, 12 C.F.R. § 360.6 (the “Rule”), which relates to the treatment of financial assets transferred in...more

Ballard Spahr LLP

Should the Financial Industry Be Detecting Future Mass Shooters?

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The United States continues to be plagued by mass shootings, which appear to be increasing in both frequency and lethality.  Certain businesses have reacted by adjusting their business models, such as the recent decision by...more

Polsinelli

Banking Agencies Issue Deposit-Reconciliation Best Practices

Polsinelli on

Five federal regulators on Wednesday – the FDIC, the Fed, CFPB, NCUA, and OCC – issued an interagency guidance applicable to all FDIC-supervised financial institutions describing expectations for effective...more

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