News & Analysis as of September 25, 2024

Federal Deposit Insurance Corporation › Government Accountability Office

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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 -

GAO calls for the FDIC to address outstanding recommendations

Orrick, Herrington & Sutcliffe LLP on 5/13/2024

On April 30, GAO sent a letter to the FDIC on its outstanding recommendations, emphasizing the importance of two priority recommendations, which pertained to blockchain technology and fintech. Regarding blockchain technology,...more

GAO report calls for FDIC, Fed to fix bank supervision issues

Orrick, Herrington & Sutcliffe LLP on 3/18/2024

On March 6, the U.S. Government Accountability Office (GAO) released a report to congressional requesters, including Senator Sherrod Brown (D-OH), Chairman of the U.S. Senate’s Committee on Banking, Housing, and Urban...more

Banking Disruption: Banking Regulators Signal Updates to Supervisory and Regulatory Agendas in Wake of Bank Failures

Morrison & Foerster LLP on 5/12/2023

On April 28, 2023, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the United States Government Accountability Office (GAO), and the New York Department of...more

Daily Financial Regulation Update -- Saturday, April 29, 2023

Paul Hastings LLP on 5/1/2023

April 28, 2023- The Board of Governors of the Federal Reserve System (Federal Reserve) on Friday announced the results from the review of the supervision and regulation of Silicon Valley Bank....more

Financial Services Report, Fall 2019

Morrison & Foerster LLP on 9/12/2019

We start this issue with a feeling of déjà vu all over again. Decisions made during the mortgage crisis are back in the news with a powerhouse legal ruling and the Treasury’s initial thinking on how to turn back time. First,...more

Bank Regulators' "Clarifying" Statement on Enforcing Supervisory Guidance

Clark Hill PLC on 9/19/2018

The prudential regulators, including the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency...more

US Federal Banking Regulators May Re-evaluate Leveraged Lending Guidance

A&O Shearman on 12/21/2017

The US Board of Governors of the Federal Reserve System, and the US Federal Deposit Insurance Corporation sent letters to Representative Blaine Luetkemeyer stating that they are considering seeking public input regarding...more

The U.S. Government Accountability Office Determines That 2013 Leveraged Lending Guidance Is a Rule

A&O Shearman on 10/26/2017

On October 19, 2017, the United States Government Accountability Office (GAO) issued an opinion determining that the 2013 Interagency Guidance on Leveraged Lending (the “2013 Guidance”), issued jointly by the Office of the...more

GAO Agrees to Decide the Legality of the Leveraged Lending Guidance; Indicates Decision Will Take “at Least a Few Months”

Kramer Levin Naftalis & Frankel LLP on 5/26/2017

On May 23, the Government Accountability Office (GAO), in a letter to Senator Patrick Toomey, R-Pa., agreed to determine whether the Guidance on Leveraged Lending jointly issued in 2013 by the Board of the Governors of the...more

Legality of the Leveraged Lending Guidance is Questioned

Kramer Levin Naftalis & Frankel LLP on 4/13/2017

On March 31, Senator Patrick Toomey (R-Pa.) sent a letter to the Government Accountability Office (GAO) requesting that the GAO determine whether the Guidance on Leveraged Lending jointly issued in 2013 by the Board of...more

GAO Says Regulators Should Improve Transparency in Evaluating Banks’ “Living Wills”

Stinson - Corporate & Securities Law Blog on 4/13/2016

GAO has issued a report which noted the FDIC and Federal Reserve have developed separate but similar review processes for determining whether a resolution plan, often referred to as a “living will,” is “not credible” or would...more

Washington Healthcare Update

McGuireWoods LLP on 3/22/2016

This Week: Medicaid program takes financial hits as the House looks for “savers” and acts on a budget... while the Senate sees no reason to do a budget... The Senate focuses on ACA oversight and mental health and opioid abuse...more

Financial Services Report, Fall 2015

Morrison & Foerster LLP on 9/18/2015

BELTWAY - Straight Out of the Seventh Circuit The Seventh Circuit recently affirmed a lower court’s ruling that the SEC cannot be sued in district court to stop it from bringing an administrative action. Bebo v. SEC, No....more

Task Order Protests: The Trek Toward Clarity On The Court of Federal Claims’ Jurisdiction

Pillsbury Winthrop Shaw Pittman LLP on 8/4/2014

The United States Court of Federal Claims’ July 18, 2014 decision in Orbis Sibro, Inc. v. United States, represents one of the few straightforward decisions by the court in recent months relating to the court’s subject matter...more

Agencies Issue Statement on Increased Maximum Flood Insurance Coverage for Other Residential Buildings

Ballard Spahr LLP on 6/12/2014

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Farm Credit Administration, the National Credit Union Administration, and the Federal Deposit Insurance Corporation...more

Financial Services Legislative and Regulatory Update -- December 16, 2013

Mintz - Public Finance Viewpoints on 12/17/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; International; Miscellaneous; and Upcoming Hearings. Excerpt from Leading the Past Week - Before leaving for the Christmas...more

Financial Services Legislative and Regulatory Update -- June 24‚ 2013

Mintz - Public Finance Viewpoints on 6/24/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Despite some concerns about the slowing growth in China, some...more

Financial Services Legislative And Regulatory Update -- February 18‚ 2013

Mintz - Public Finance Viewpoints on 2/19/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - President Obama touched on both new and old initiatives in his State of...more

Financial Services Legislative And Regulatory Update -- January 14, 2013

Mintz - Public Finance Viewpoints on 1/14/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; Miscellaneous; and International. Excerpt from Leading the Past Week - As was widely anticipated, President Obama announced that he...more

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