News & Analysis as of September 21, 2024

Federal Deposit Insurance Corporation › Investors

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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... 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 -

FDIC Proposes To Exercise Now-Dormant Authority Under the Change-in-Bank Control Act

Cadwalader, Wickersham & Taft LLP on 8/12/2024

The board of directors of the Federal Deposit Insurance Corporation (“FDIC”) recently proposed a rule change that would reassert its now-dormant authority to review changes in bank control involving bank holding companies....more

FDIC Finalizes Amendments to Regulations Governing Official Signs, Advertising Requirements, and Misrepresentations Regarding...

Troutman Pepper on 5/21/2024

The Federal Deposit Insurance Corporation (FDIC) has recently issued a final rule amending its regulations governing the use of official FDIC signs and insured depository institutions’ (IDIs) advertising statements. The new...more

Banking and Consumer Regulatory Digest - April 2024 - 2

Davis Wright Tremaine LLP on 5/6/2024

Federal Reserve Board. Extended comment period. On April 24, 2024, FRB and the Office of the Comptroller of the Currency said they would continue to accept comments on Capital One's proposed acquisition of Discover Financial...more

SEC Adopts Changes to Schedule 13D and Schedule 13G

Foley & Lardner LLP on 10/16/2023

On October 10, 2023, the U.S. Securities and Exchange Commission (the “SEC”) adopted final rules amending (the “Amendments”) Schedules 13D and 13G of the Securities Exchange Act of 1934 (the “Exchange Act”) to modernize its...more

La Revisión De Riesgos De La FDIC 2023 Agrega El Cripto

Foodman CPAs & Advisors on 10/9/2023

El 14/08/23 se publicó la Revisión de Riesgos de la FDIC 2023. El informe “FDIC Risk Review 2023” resume las condiciones de la economía, los mercados financieros y la industria bancaria de los EE. UU. El informe proporciona...more

FDIC Risk Review 2023 Adds Crypto

Foodman CPAs & Advisors on 10/9/2023

On 8/14/23, the FDIC Risk Review 2023 was published. The FDIC Risk Review 2023 report summarizes conditions in the U.S. economy, financial markets, and banking industry. The report provides a comprehensive summary of key...more

For Banks Placing or Renewing D&O Coverage, It Pays to Proceed with Caution

Pillsbury - Policyholder Pulse blog on 7/10/2023

The collapse of Silicon Valley Bank (SVB), the failure of Signature Bank, the close-call of First Republic, and the bailout of Credit Suisse had many proclaiming earlier this year that banking was heading toward an...more

CRPTO Act Cracks Down On CRYPTO

Pietragallo Gordon Alfano Bosick & Raspanti,... on 5/9/2023

Regulators have been slow walking the imposition of cryptocurrency regulation schemes despite multi-billion-dollar thefts and losses. This lack of regulation could be coming to an end…and fast, with the finance capital of the...more

Observations on the Banking Crisis of 2023

White and Williams LLP on 4/6/2023

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

FDIC Bank Receivership Frequently Asked Questions - UPDATED 3/20/2023

Morrison & Foerster LLP on 3/22/2023

UPDATE (3/20 PM): Developments Related to Flagstar Bank, SVBB, SVB Financial Group, Credit Suisse, and First Republic Bank- On March 19, 2023, the FDIC announced that the agency has entered into a purchase and...more

Silicon Valley Bank: What Happens Next?

McCarter & English, LLP on 3/17/2023

US regulators seized Silicon Valley Bank (SVB) on March 10, marking the second largest US bank failure in history and largest since the 2008 global financial crisis. In response, investors began selling off stocks of other...more

Missed Payroll in the Wake of Bank Collapse: Implications and Strategies

Proskauer - Law and the Workplace on 3/14/2023

In the wake of the recent news of bank failures, businesses—and their investors—are rightly concerned about the implications of a missed or delayed payroll. Let’s look at those implications, and strategies for minimizing...more

Not So Silver Lining, Weird Science, F is for Fraud, and Alex Jones Under the Microscope

Seward & Kissel LLP on 3/6/2023

Below is our initial take on recent bankruptcy-related developments: Silvergate reported a $1 billion loss for the fourth quarter and said it is unable to meet an extended March 16 deadline for submitting its annual...more

What to Expect When You’re Expecting (Your Bank to Fail)

Seward & Kissel LLP on 3/6/2023

As with any business, a bank can become insolvent. But unlike most businesses, your bank holds your money or your customers’ money, making insolvency particularly fraught. In recent days, the parent corporation of Silvergate...more

Crypto Trading Platforms and Bankruptcy Law: Are Clients Protected?

Tonkon Torp LLP on 7/21/2022

Cryptocurrency investors, who were already in the icy clutches of the so-called “crypto winter,” now have another reason to shiver. Insolvency issues are cropping up with some frequency among crypto companies, which is...more

CFPB Launches New Initiative Focused on Rural Communities

Goodwin on 3/18/2022

In This Issue. The Consumer Financial Protection Bureau (CFPB) announced a new initiative focused on financial issues faced by rural communities and also updated its examination procedures to cover unfair discrimination; the...more

FinCEN Warns Against Evasion of Russian Sanctions

Goodwin on 3/14/2022

In this Issue. The Financial Crimes Enforcement Network (FinCEN) published an alert warning financial institutions of possible efforts to evade U.S.-imposed sanctions on Russia and Belarus; the U.S. Department of the Treasury...more

Stress Test Scenarios Released for 2022

Goodwin on 2/18/2022

In This Issue. The Federal Reserve Board of Governors (Federal Reserve), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released stress test scenarios to assess...more

FinCEN Proposes Rule for SARs Sharing Pilot Program

Goodwin on 1/28/2022

In This Issue. The Financial Crimes Enforcement Network (FinCEN) issued a proposed rule about the establishment of a limited-duration pilot program for sharing suspicious activity reports (SARs); FinCEN published the final...more

SEC Publishes Sample Climate Change Comment Letter

Goodwin on 9/24/2021

In This Issue. The U.S. Securities and Exchange Commission (SEC) published a sample comment letter on climate change disclosures; the Financial Industry Regulatory Authority (FINRA) is conducting a review of brokerage firm...more

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

Goodwin on 8/6/2021

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

President Biden Issues Sweeping Executive Order on Promoting Competition in the American Economy

Goodwin on 7/29/2021

In This Issue. President Joe Biden issued a sweeping executive order aimed at cracking down on anticompetitive practices and reducing consolidation across multiple industry sectors, including financial services; the Federal...more

House Votes to Repeal OCC True Lender Rule

Goodwin on 7/28/2021

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Q1 De Novo Bank Trends

Troutman Pepper on 5/21/2021

There has been recent turmoil in the U.S. stock markets over the past few weeks as the country starts to take steps toward reopening as a result of the pandemic. However, financial institution stocks have been buoyed by...more

Fed Invites Public Comment on Proposed Changes to Durbin Amendment

Goodwin on 5/14/2021

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

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