News & Analysis as of

Federal Deposit Insurance Corporation Office of the Comptroller of the Currency

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 -

Financial Services Weekly News - November 2017 #2

by Goodwin on

Editor's Note - Change at the Fed. As expected, on November 2, President Trump nominated Jerome H. Powell to be Chairman of the Board of Governors of the Federal Reserve System (FRB) for a term of four years beginning...more

The OCC is Busy: Regulatory Update

by Hellmuth & Johnson PLLC on

The Office of the Comptroller of the Currency (OCC) shared several updates over the past six weeks that require the attention of financial institution leaders. In fact, some changes go into effect as soon as December 1, 2017....more

GAO Determines Leveraged Lending Guidance is a "Rule" under Congressional Review Act

by White & Case LLP on

On October 19, 2017, the Government Accountability Office ("GAO") determined that the Interagency Leveraged Lending Guidance ("LLG") issued by three federal banking agencies, the Board of Governors of the Federal Reserve...more

Proposed Regulatory Updates Will Require Increased Analysis of New Loans to Determine if Different Risk Weight Exposures Apply

by Steptoe & Johnson PLLC on

On September 27, 2017, the principal federal banking agencies, the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, released a Notice of...more

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

by Shearman & Sterling LLP on

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

3 Key Takeaways: Fintech & Banking 2017: Further Exploration of Bank Charters for Fintech Companies

During recent months, Kilpatrick Townsend Partner Christina Gattuso and Counsel Eamonn Moran have provided regular updates regarding the Office of the Comptroller of the Currency’s (OCC) decision to move forward with...more

Financial Services Weekly News - October 2017

by Goodwin on

Editor's Note - Swimming Against the Tide. As discussed below, the Trump administration’s plans for financial regulatory reform are beginning to take shape, especially in agencies, such as the Securities and Exchange...more

OCC reacts to CFPB’s final payday loan rule by rescinding its deposit advance product guidance

by Ballard Spahr LLP on

Hours after the CFPB released its final payday/auto title/high-rate installment loan rule on October 5, 2017, the OCC rescinded its guidance on deposit advance products. ...more

Orrick's Financial Industry Week In Review

Agencies Propose Simplifying Regulatory Capital Rules - On September 27, 2017, the Federal Deposit Insurance Corporation, the Federal Reserve Board and the Office of the Comptroller of the Currency announced a proposed...more

Agencies Propose Simplifying Regulatory Capital Rules

On September 27, 2017, the Federal Deposit Insurance Corporation, the Federal Reserve Board and the Office of the Comptroller of the Currency announced a proposed rule intended to decrease regulation under these entities’...more

Financial Services Weekly News - September 2017 #4

by Goodwin on

Editor's Note - Translating Goals Into Action.Many financial institutions likely would say that financial regulatory reform in the Trump administration has fallen short of expectations, at least so far. While various...more

To Charter or Not to Charter: Initial Thoughts on Recent Fintech & Banking Developments

A topic of increasing interest in recent months and weeks has been whether and if fintech companies would seek to obtain a bank charter of some sort. The recent decisions by Social Finance Inc. (SoFi) and Square, Inc. to...more

Agencies to Propose Amending CRA Regulations to Conform to HMDA Regulation Changes, and Remove References to the Neighborhood...

On September 13, 2017, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly released proposed changes to each agency’s...more

An Overview of the Volcker Rule

by K&L Gates LLP on

This practice note provides an overview of the Volcker Rule, which was enacted in 2010 as Section 619 of the comprehensive Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and codified as the new...more

Banking Agencies Address Disaster Relief for Hurricane Harvey Victims

by Ballard Spahr LLP on

Several federal agencies have issued reminders and requirements related to banking and credit services for borrowers affected by Hurricane Harvey.  We previously reported on mortgage-related guidance issued by Fannie Mae,...more

5 Key Developments: Fintech & Banking 2017: Further Exploration of Bank Charters for Fintech Companies

In May, Kilpatrick Townsend Partner Christina Gattuso and Counsel Eamonn Moran discussed the Office of the Comptroller of the Currency’s (OCC) decision to move forward with considering applications from financial technology...more

Federal Banking Agencies Propose Extension of Certain Capital Rule Transitions

On August 22, 2017, in preparation for a forthcoming proposal that would simplify regulatory capital requirements, federal banking regulators proposed a rule that would extend the existing transitional capital treatment for...more

It’s Not Much, but It’s a Start: The Regulators Freeze Certain Capital Requirements

by Vedder Price on

On August 22, 2017, the Office of the Comptroller of the Currency (the “OCC”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Board of Governors of the Federal Reserve System (the “FRB”) (the OCC, FDIC and FRB...more

Financial Services Weekly News - August 2017 #3

by Goodwin on

Editor's Note - In This Issue. The Department of Labor (DOL) filed a Notice of Administrative Action seeking to delay the Fiduciary Rule until July 2019; federal banking agencies issued guidance on the capital treatment of...more

Financial Services Weekly News - August 2017

by Goodwin on

Editor's Note - In This Issue. The Office of the Comptroller of the Currency (OCC) announced that it was seeking public comments on revising the Volcker Rule; the Securities and Exchange Commission (SEC) offered a window...more

Federal Regulatory Agencies Announce Coordination of Reviews for Certain Foreign Funds Under “Volcker Rule”

On July 21, 2017, the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, the Office of Comptroller of the Currency and the Securities and...more

Federal Banking Agencies Announce No-action Position on Certain Foreign Excluded Funds Under the Volcker Rule

by Morrison & Foerster LLP on

Section 13 of the Bank Holding Company Act of 1956, as amended, and its implementing regulations (the “Volcker Rule”) generally prohibit a “banking entity” from engaging in proprietary trading and from investing in,...more

D.C. District Court Allows Payday Lenders’ Due Process Claims To Proceed In Case Against “Operation Choke Point”

by Ballard Spahr LLP on

On July 5, 2017, the U.S. District Court for the District Columbia, in the lawsuit filed in 2014 challenging “Operation Choke Point” — a federal enforcement initiative involving various agencies, including the Consumer...more

Financial Services Weekly News - July 2017

by Goodwin on

Editor's Note - Fireworks After the July 4th Holiday. On July 10, the Consumer Financial Protection Bureau (CFPB) issued the highly anticipated final Arbitration Rule, which prohibits the use of mandatory arbitration...more

Financial Services Weekly News - June 2017 #3

by Goodwin on

Editor's Note - In This Issue. President Trump announced his intended nominee for Chairman of the Federal Deposit Insurance Corporation (FDIC), the Consumer Financial Protection Bureau (CFPB) proposed updates to its...more

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