News & Analysis as of June 1, 2025

Banking Sector

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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 -

"Operation Chokepoint 2.0": De-banking policies and the adverse use of reputational risk in bank supervision

Davis Wright Tremaine LLP on 12/9/2024

As we have previously noted, we expect that the second Trump Administration will be significantly more favorable to crypto than the Biden Administration, especially with the recent appointment of David Sacks as the...more

U.S. Financial Regulators Continue Focus on Bank-Fintech Partnerships through Guidance and Request for Information

Pillsbury - Global Sourcing Practice on 9/6/2024

On July 25, 2024, the Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued a joint statement describing potential...more

Banking and Consumer Regulatory Digest - February 2024 - 2

Davis Wright Tremaine LLP on 2/23/2024

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 focusing on:...more

South Dakota Lenders on Tight Deadline for BSA/AML Compliance

Sheppard Mullin Richter & Hampton LLP on 2/19/2024

On January 12, South Dakota’s Division of Banking issued a mandate setting March 31, 2024 as the deadline for all South Dakota licensed money lenders and non-residential mortgage brokers to comply with their Bank Secrecy...more

OCC, FRB, and FDIC Finalize Joint Principles for Climate-Related Financial Risk Management

Latham & Watkins LLP on 11/8/2023

Guidance for the largest US financial institutions is intended to promote climate risk management consistent with general safety and soundness practices. On October 30, 2023, the three US federal bank regulatory agencies...more

FRB Vice Chair for Supervision Recommends Stronger Capital Standards for Large US Banks

Latham & Watkins LLP on 7/21/2023

After a lengthy “holistic” review and a spring banking crisis, US bank capital requirements finally face overhaul. On July 10, 2023, US Federal Reserve Board (FRB) Vice Chair for Supervision Michael Barr delivered a...more

Bank Regulators Issue Guidance for Third-Party Risk Management

Goodwin on 7/3/2023

On June 6, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, Agencies)...more

FDIC Enters into Consent Order with Fintech Focused Bank

Morrison & Foerster LLP on 5/5/2023

Reflecting expected heightened regulatory scrutiny of fintech-bank partnerships, the Federal Deposit Insurance Corporation (FDIC) issued a consent order for a bank that is deep in the bank-fintech sponsorship space over...more

Strategic Considerations in the Rapidly Changing Banking Environment

Baker Donelson on 3/20/2023

On March 10, 2023, the California Department of Financial Protection and Innovation and the Federal Deposit Insurance Corporation (FDIC) closed Silicon Valley Bank (SVB) after a deposit outflow created a severe liquidity...more

Can Directors/Officers be Liable for Depositing Corporate Funds in and Borrowing from a Bank Taken Over by the FDIC?

Foley & Lardner LLP on 3/15/2023

Last week, state regulators forced Silicon Valley Bank (SVB) into receivership, and the Federal Deposit Insurance Corporation (FDIC) was appointed as receiver. SVB’s failure marks the largest receivership since Washington...more

Flurry of Announcements by the Federal Reserve on Crypto Activities

WilmerHale on 2/17/2023

A flurry of activity on January 27 signaled continued skepticism from the Federal Reserve of crypto-asset-related activities generally and open, public or decentralized networks in particular....more

Recent Actions by the Fed Show Its Continued Cautious Approach to Cryptoasset Activities by Supervised Institutions

Skadden, Arps, Slate, Meagher & Flom LLP on 2/7/2023

In the past year, the Board of Governors of the Federal Reserve System (the Board) Biden administration officials, and other U.S. banking regulators have repeatedly voiced growing concerns about certain cryptoasset...more

Banking Regulators Issue Joint Statement on Crypto Risks

Latham & Watkins LLP on 1/12/2023

Banking organizations should ensure appropriate risk management, but regulators are skeptical of certain crypto activities as principal. On January 3, 2023, the Board of Governors of the Federal Reserve System (Federal...more

Prudential Regulators Issue New Guidance on Crypto-Assets

WilmerHale on 1/9/2023

On January 3, the Board of Governors of the Federal Reserve (FRB), Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued a Joint Statement on Crypto-Asset Risks to Banking...more

OCC Solicits Research on Implications of Financial Technology for Banking

Goodwin on 7/29/2022

Regulatory Developments - OCC Solicits Research on Implications of Financial Technology for Banking - On July 25, the OCC is seeking academic and policy-focused research on the impact that fintech and non-bank...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

OCC: Third-party Risk is a Key Issue for US Banks in 2022

Mitratech Holdings, Inc on 1/25/2022

Banking regulators across the world often engage proactively with their chartered banks to provide guidance about their priorities. They want feedback, comment, and input about issues that may need addressing. This helps...more

The Impact of Cybersecurity Regulations on the Financial Services Industry in 2022

Holland & Knight LLP on 1/13/2022

Following the SolarWinds and the Colonial Pipeline cyberattacks, the Biden Administration emphasized a shift toward mandatory cybersecurity requirements. Throughout 2021, government agencies issued new cybersecurity guidance,...more

Nutter Bank Report: December 2021

Nutter McClennen & Fish LLP on 12/28/2021

FDIC Board Governance Dispute on Review of Bank Mergers Aired Publicly - CFPB Director Rohit Chopra on December 9 published on the CFPB’s website a blog post captioned “How Should Regulators Review Bank Mergers?” in...more

The Antitrust Risk of the Federal Banking Agencies’ Proposed Risk Management Guidance

Morgan Lewis - All Things FinReg on 9/10/2021

As highlighted previously, three federal banking agencies (the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency) recently issued proposed risk management...more

Vetting FinTechs as Business Risk Partners: OCC Bulletin

BCLP on 9/8/2021

Innovation is a key to competitive advantage and keeping pace with consumer digital banking preferences. Increasingly, banks are engaging the services of fintech’s who can deliver certain information and services in a more...more

FDIC Seeks Comment on Supervisory Approach to Examinations During Pandemic

Goodwin on 8/20/2021

In This Issue. The Federal Deposit Insurance Corporation (FDIC) is seeking information and comment regarding the FDIC’s supervisory approach to examinations during the pandemic; the FDIC’s tech lab, FIDTECH, announced a “tech...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

FDiTech Releases New Guide to Help 'FinTechs' Connect with Banks

Nutter McClennen & Fish LLP on 2/26/2020

On February 24, the FDIC’s technology lab (FDiTech) released “Conducting Business with Banks: A Guide for Third Parties,” a new six-page guide designed to help fintechs and other companies partner with banks. The FDIC’s...more

Enhancing Transparency in the Agencies’ Approach to BSA/AML Examinations

Moore & Van Allen PLLC on 8/6/2019

Last month the Financial Crimes Enforcement Network (FinCEN) and the federal bank regulators issued a Joint Statement aimed at improving transparency into their risk-focused examination and supervision of banks’ compliance...more

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