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Federal Deposit Insurance Corporation › Interest Rates

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 -
Seward & Kissel LLP

The Italian Job, Distribution Channel, Power Struggle, and FDIC You in Court

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Restaurant chain Buca di Beppo files for bankruptcy | Reuters The Italian restaurant chain filed for Chapter 11 bankruptcy, citing assets between $0 to $50,000 and debts of $15 million to $50 million to at least 30 creditors....more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Interest Rate Exportation Under Attack Part II

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The 1978 landmark opinion in Marquette National Bank v. First of Omaha Service Corp held that under the National Bank Act, a national bank has the right to export the interest rate authorized by the state where the bank is...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Interest Rate Exportation Under Attack Part I

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The 1978 landmark opinion in Marquette National Bank v. First of Omaha Service Corp held that under the National Bank Act, a national bank has the right to export the interest rate authorized by the state where the bank is...more

Husch Blackwell LLP

Colorado's DIDMCA Opt Opt Paused for Bank Loans Made Out of State

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The financial services industry has (finally) received some good news. Last week, a federal court granted a preliminary injunction to stop Colorado from enforcing interest and certain fee limitations under the Colorado...more

Ballard Spahr LLP

Colorado federal court issues preliminary injunction prohibiting Colorado from enforcing DIDMCA opt-out to loans made to Colorado...

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The Colorado federal district court hearing NAIB, et al v. Weiser, et al., the lawsuit filed by three consumer financial services industry trade groups challenging Colorado’s opt-out legislation, has granted the plaintiffs’...more

Ballard Spahr LLP

Colorado rate exportation litigation: Motion to dismiss complaint claims there is no claim there

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Last month, just a few days before the preliminary injunction hearing, Colorado’s attorney general filed a Motion to Dismiss the Complaint filed in federal district court in Colorado by three financial services industry trade...more

Cadwalader, Wickersham & Taft LLP

The UK’s Financial Conduct Authority Discusses Gaps in Firms' Surveillance for Market Abuse

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The UK’s Financial Conduct Authority (FCA) has reported its observations on firms’ market abuse surveillance arrangements in the May edition of Market Watch. The newsletter looks at a peer review of surveillance model testing...more

Ballard Spahr LLP

Plaintiffs file reply in support of motion for preliminary injunction in Colorado rate exportation litigation

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The industry group plaintiffs in NAIB et al. v. Weiser et al., the lawsuit challenging Colorado’s opt-out legislation, have filed their reply to the brief filed by the Colorado Attorney General and Colorado Uniform Consumer...more

Ballard Spahr LLP

Further developments in Colorado rate exportation litigation: Colorado AG files opposition brief and FDIC tries to “opt out” of...

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As expected, the Colorado Attorney General and Colorado Uniform Consumer Credit Code Administrator filed their responsive brief in opposition to the plaintiffs’ motion for preliminary injunction filed earlier this month in...more

McGlinchey Stafford

Minnesota, Nevada, and Rhode Island Propose DIDMCA Opt-Outs

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Minnesota, Nevada, and Rhode Island are the most recent additions to the list of jurisdictions that have proposed legislation to opt out of the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). Sections...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - March 2024

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Editor's Note The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more

Ballard Spahr LLP

Colorado interest rate preemption opt-out challenged in federal court

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On March 25, 2024, three consumer financial services industry trade groups filed a lawsuit asking the federal district court in Colorado to strike down recent Colorado legislation purporting to opt out of a federal law that...more

Lewis Roca

Legal Issues, Problems, and Unanswered Questions Regarding a State’s Ability and Potential Departure from the Depository...

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In 1980, Congress passed Public Law 96-221, called the Depository Institutions Deregulation and Monetary Control Act (“DIDMCA”), which, in part, allowed federally insured state banks, state credit unions, and state savings...more

Cozen O'Connor

Cozen Currents: The General Election Begins

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The Cozen Lens- •With Super Tuesday, the State of the Union, and the release of President Biden’s FY25 budget, this past week has been a politically consequential one. This series of events mark the pivot to the general...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 4, Issue 1, January 2024

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OCC Issues Guidance on ‘Buy Now, Pay Later’ Lending - “The guidance notes that banks should maintain underwriting, repayment terms, pricing, and safeguards that minimize adverse customer outcomes and should ensure that...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: What the Recent Developments in Federal Preemption for National and State Banks Mean for...

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Providers of consumer financial services that rely on federal preemption to charge customers uniform interest rates and fees on a nationwide basis are currently facing a series of legislative and litigation challenges. In...more

Troutman Pepper

Opportunity Financial Scores Big Win in CA DFPI’s “True Lender” Lawsuit

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A California state court recently denied a preliminary injunction sought by the California Department of Financial Protection and Innovation (the DFPI) in its long-running litigation against Opportunity Financial (OppFi)...more

Harris Beach PLLC

Proposed Regulation Would Force Banks to Issue Billions in Long-term Debt

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Federal regulators are strongly considering requiring regional and mid-sized banks to issue billions of dollars in long-term debt to guard against more bank failures. This onerous requirement will be difficult and costly...more

ArentFox Schiff

Work-Out or Walk-Out: The Difficult Decision Facing Commercial Office Owners

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Back in March, we wrote about the then-current news of some of the nation’s largest real estate owners defaulting on loans secured by office buildings. At the time, we envisioned a market ripe for borrowers and lenders to...more

Cadwalader, Wickersham & Taft LLP

FDIC Issues Bank Failure Post Mortem Report

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Recently, the Federal Deposit Insurance Corporation (“FDIC”) issued a report from its Chief Risk Officer entitled FDIC’s Supervision of First Republic Bank. The FDIC was First Republic Bank’s primary federal banking agency,...more

Wyrick Robbins Yates & Ponton LLP

The Federal Reserve and FDIC’s Reports on the Silicon Valley Bank and Signature Bank Failures – Lessons to be Learned

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On April 28, 2023, the Board of Governors of the Federal Reserve System (“Federal Reserve”) and the Federal Deposit Insurance Corporation (“FDIC”) each released reports detailing the respective agency’s supervision history...more

Holland & Hart LLP

What Does the Nation's Second Largest Bank Failure Mean for Business?

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In what is now the second largest bank failure in United States history, the California Department of Financial Protection and Innovation closed embattled San Francisco-based First Republic Bank shortly after midnight...more

Latham & Watkins LLP

FDIC Vice Chairman Cautions Against New Regulation as a Response to Recent Bank Failures

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In contrast with the White House’s position, the Vice Chairman denied that loosened Dodd-Frank rules contributed to the recent bank failures. On April 12, 2023, Federal Deposit Insurance Corporation (FDIC) Vice Chairman...more

Ballard Spahr LLP

Opt-Out Deja Vu? Pending Colorado legislation would opt out of federal law allowing interest rate exportation by state banks

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Legislation to opt out of a 43-year-old federal law allowing FDIC-insured state banks to “export” interest on interstate loans to the same extent as their national bank counterparts is quietly, but swiftly, working its way...more

White and Williams LLP

Observations on the Banking Crisis of 2023

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The unprecedented events of the last two weeks in the banking industry have been breathtaking. As the banking and capital markets turn their focus to the Federal Reserve and Washington, the crisis of confidence that has...more

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