News & Analysis as of September 20, 2024

Federal Deposit Insurance Corporation › Proposed Legislation

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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 -

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

Lewis Roca on 3/26/2024

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

A Proposed New Failed Bank Clawback Act

Nelson Mullins Riley & Scarborough LLP on 6/5/2023

Currently, the FDIC has a limited ability to claw back executive compensation in the event of a bank failure. An unlikely combination of U.S. Senators, including Elizabeth Warren (D-MA), Josh Hawley (R-MO), and J.D. Vance...more

Federal Reserve Announces Results From the Review of the Supervision and Regulation of SVB

Goodwin on 5/5/2023

Regulatory Developments - Federal Reserve Announces Results From the Review of the Supervision and Regulation of SVB - On April 28, the Federal Reserve released its report analyzing SVB’s failure (Report). The Report...more

Key Takeaways from the FDIC’s Receiverships of Silicon Valley Bank And Signature Bank

Dinsmore & Shohl LLP on 4/4/2023

On March 10, 2023, Silicon Valley Bank and Signature Bank were closed by their respective jurisdictions’ financial service agencies due to a high influx of depositors making massive withdrawals in the week prior....more

Promissory Notes - Banking & Finance Insights: V 3, Issue 3, March 2023

Spilman Thomas & Battle, PLLC on 4/3/2023

Now is the Time to Guard Against Reckless Banking Legislation - “Only a structural change to the way Congress acts on financial regulation will prevent future losses.” Why this is important: An old adage is that...more

New fair banking CRA legislation: House committee on financial services (HR 8833)

BCLP on 9/21/2022

US House of Representatives Committee on Financial Services Chairwoman, Maxine Waters (D-CA), has introduced new legislation H.R. 8833 “Making Communities Stronger through the Community Reinvestment Act.” The proposed...more

All Talk, No Action? The Fintech Regulatory Plot Thickens

Jones Day on 8/22/2022

Jones Day's new Of Counsel Nathan Brownback and Partner Josh Sterling discuss recent developments in the U.S. legal landscape for fintech, including the bipartisan Stabenow-Boozman bill, designed to regulate digital assets....more

Federal Law to the Rescue?

ArentFox Schiff on 11/4/2021

Snidely Whiplash kidnaps Nell and, in the show’s opening, ties her to the railroad tracks to get even with his nemesis, Dudley Do-Right, of the famed Royal Canadian Mounted Police. Menacing music plays. In each episode,...more

US and International Regulators Take Aim at Stablecoin Issuers

ArentFox Schiff on 11/4/2021

Regulatory Guidance Aims to Apply Banking Regulations to Stablecoin Issuers - On November 1, 2021, an interagency group consisting of the President’s Working Group on Financial Markets (PWG), the FDIC, and the Office of the...more

New US Digital Assets Bill Casts Wide Net

Latham & Watkins LLP on 9/13/2021

An ambitious proposal could bring digital assets into the mainstream regulatory fold. During an eventful summer for the digital assets industry, it may have been easy to miss US Representative Don Beyer’s introduction of the...more

Nutter Bank Report: May 2021

Nutter McClennen & Fish LLP on 6/1/2021

Court Rules that Debt Collector Violated FDCPA with Communication to Dunning Vendor - A federal appellate court has recently ruled that a debt collector violated certain privacy requirements under the federal Fair Debt...more

Hearing Considers Madden, Proposed Rate Cap

Manatt, Phelps & Phillips, LLP on 2/24/2020

The House Financial Services Committee held the first of a two-part hearing titled, “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Caps.” For the first...more

House of Representatives Passes Bill Aimed at Marijuana Industry Financial Reforms

The Volkov Law Group on 10/17/2019

A new bill that would make it easier for financial institutions to provide services to “marijuana-related businesses” has passed the U.S. House of Representatives 321-103 with strong bipartisan support....more

Should the Financial Industry Be Detecting Future Mass Shooters?

Ballard Spahr LLP on 9/6/2019

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

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

Ballard Spahr LLP on 7/20/2017

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

Congress Introduces Bill to Clarify HVCRE Loans

Sullivan & Worcester on 5/4/2017

Eric D. Lemont wrote the article, "Congress Introduces Bill to Clarify HVCRE Loans," which discusses proposed amendments to the Federal Deposit Insurance Act. Specifically, Mr. Lemont describes how the proposed legislation...more

House Subcommittee Supports Revised Treatment of Reciprocal Deposits

Polsinelli on 10/3/2016

On Tuesday, a bipartisan group of legislators expressed their support for a bill (H.R. 4116) that would attempt to codify and expand a measure regarding reciprocal deposits that was included in FDIC’s final rule on small bank...more

Congressman introduces fintech bill

Ballard Spahr LLP on 9/27/2016

Republican Congressman Patrick McHenry, Vice Chair of the House Financial Services Committee, has introduced the “Financial Services Innovation Act of 2016,” which is intended to provide a streamlined regulatory process for...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 4/15/2016

Senators Introduce SAFE Lending Act - On April 7, 2016, several Democratic Senators introduced the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act, SAFE 2016, which is designed to change the manner in which...more

Proposed Legislation Would Replace Fannie Mae, Freddie Mac

Bilzin Sumberg on 7/26/2013

The Future of Housing Reform - A bipartisan group of U.S. Senators recently proposed a bill that would replace Fannie Mae and Freddie Mac over the next 5 years....more

Copy of the 21st Century Glass-Steagall Act of 2013

JD Supra Perspectives on 7/11/2013

Full text copy of the 21st Century Glass-Steagall Act of 2013, introduced in the US Senate on July 11, 2013 by Senators Elizabeth Warren (D-MA), John McCain (R-AZ), Maria Cantwell (D-WA), and Angus King (I-ME). From Senator...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 -- April 29‚ 2013

Mintz - Public Finance Viewpoints on 5/1/2013

In This Issue: Leading the Past Week; Legislative Branch; and Executive Branch. Excerpt from Leading the Past Week - The past week could be best described by one word. Chaos. In the House, a scheduled...more

Financial Services Legislative and Regulatory Update -- April 22, 2013

Mintz - Public Finance Viewpoints on 4/22/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - It was another incredibly busy week, but obviously our thoughts and...more

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

Mintz - Public Finance Viewpoints on 3/18/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Leading the Past Week - It was another busy week on the Hill and in the Administration, but it may have...more

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