News & Analysis as of

Federal Deposit Insurance Corporation › Settlement

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 -
Goodwin

FDIC Announces $1.5 Million Settlement with Arkansas-Based Bank and Employees

Goodwin on

​​​​​​​​On May 17, 2024, the Federal Deposit Insurance Corporation (FDIC) announced a settlement with an Arkansas bank and nine of its employees, resolving allegations that the bank and the employees violated Section 5 of the...more

McDermott Will & Emery

Heard at the 2024 Antitrust Law Section Spring Meeting: Part II

McDermott Will & Emery on

The American Bar Association Antitrust Law Section’s annual Spring Meeting concluded on April 12. The annual Spring Meeting featured updates from federal, state and international antitrust enforcers and extensive discussion...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - February 2024 - 2

Davis Wright Tremaine LLP on

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

Troutman Pepper

DOJ Reaches $1.15 Million Redlining Settlement With American Bank of Oklahoma

Troutman Pepper on

On August 28, the U.S. Department of Justice (DOJ) announced its eighth redlining settlement under its Combatting Redlining Initiative. The settlement between the DOJ and the American Bank of Oklahoma, which originated from a...more

Bradley Arant Boult Cummings LLP

New DOJ Redlining Settlement Continues Enforcement Trend

Bradley Arant Boult Cummings LLP on

In a continuation of enforcement activity related to redlining under October 2021’s Combatting Redlining Initiative, the U.S. Department of Justice (DOJ) announced on May 31, 2023, that ESSA Bank & Trust has agreed to pay $3...more

Goodwin

DOJ Reaches Settlement Over Bank’s Alleged Redlining

Goodwin on

On May 31, 2023, the United States Department of Justice (DOJ), announced that it had entered into a settlement with a Philadelphia based bank and trust company over allegations that the bank had engaged in unlawful redlining...more

Seward & Kissel LLP

Genesis of a Lawsuit, Head in a Vice, Not the First Bank Seized, and Talcing Settlement?

Seward & Kissel LLP on

Below is our initial take on recent bankruptcy-related developments: In a court filing on Wednesday, bankrupt crypto exchange FTX said that it wants to claw back nearly $4 billion in funds from similarly bankrupt Genesis...more

Proskauer - Blockchain and the Law

Custodia Bank Is, Once Again, Asking for a Federal Reserve Master Account

Proskauer - Blockchain and the Law on

On December 12, 2022, Custodia Bank (“Custodia”) – a state-chartered, digital asset-focused bank based in Wyoming – was denied its motion for a default judgment in its battle with the Federal Reserve Board of Governors (the...more

ArentFox Schiff

US and International Regulators Take Aim at Stablecoin Issuers

ArentFox Schiff on

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

Goodwin

FDIC Settles With Seattle-Based Bank Over Alleged RESPA Violations

Goodwin on

On November 6, 2019, the Federal Deposit Insurance Corporation (FDIC) announced a settlement with a Seattle-based bank over alleged violations of the Real Estate Settlement Procedures Act (RESPA). According to the FDIC,...more

White & Case LLP

Review of Anti-Money Laundering and Sanctions Policy and Enforcement

White & Case LLP on

TABLE OF CONTENTS: Executive Summary - Developments and Trends in Policy and Enforcement - US Department of the Treasury - The Office of Foreign Assets Control - Treasury's Financial Crimes Enforcement Network -...more

Ballard Spahr LLP

FDIC announces settlement with bank and non-bank affiliated parties

Ballard Spahr LLP on

The FDIC announced last week that it had entered into settlements with Bank of Lake Mills and two non-bank “institution-affiliated parties” through which the bank originated loans for allegedly engaging in unfair and...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on

Council of EU Adopts Regulation Extending Exemptions for Commodity Dealers under CRR - On May 30, 2016, the Council of the EU published a press release confirming that it has adopted a Regulation amending the Capital...more

Goodwin

Financial Services Weekly News - February 2015

Goodwin on

Regulatory Developments - FDIC Provides Framework for Cybersecurity in Recent Supervisory Insights - The FDIC featured an article titled “A Framework for Cybersecurity” in the Winter 2015 issue of Supervisory...more

Saul Ewing Arnstein & Lehr LLP

When Government Walks in Industry’s Shoes, FCA May Not Apply (and Vice Versa)

Saul Ewing Arnstein & Lehr LLP on

In November, an Illinois federal judge blocked a former bank employee from collecting his claimed relator’s share of a potential settlement between the FDIC (acting as the bank’s receiver) and the bank’s former directors. In...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on

CFTC Issues Proposed Amendments to Swap Data Recordkeeping and Reporting Requirements for Cleared Swaps - On August 19, The U.S. Commodity Futures Trading Commission (CFTC) proposed amendments to existing rules relating...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on

Bank of America and Merrill Lynch Settle RMBS Lawsuit with FDIC - On November 17, Bank of America and Merrill Lynch settled securities claims brought by the FDIC related to RMBS sold to United Western Bank. The FDIC,...more

Orrick - Finance 20/20

Bank of America and Merrill Lynch Settle RMBS Lawsuit with FDIC

Orrick - Finance 20/20 on

On November 17, Bank of America and Merrill Lynch settled securities claims brought by the FDIC related to RMBS sold to United Western Bank. The FDIC, as the receiver for United Western Bank, alleged claims under the...more

Manatt, Phelps & Phillips, LLP

Bank Pays $16M to Settle FDIC Charges Over Credit Card Add-On Products

Manatt, Phelps & Phillips, LLP on

The Federal Deposit Insurance Corporation (FDIC) reached a $16 million deal with a Utah bank recently, settling charges that the financial institution engaged in unfair and deceptive acts and practices. ...more

Bilzin Sumberg

Citigroup Settles with DOJ for $7 Billion

Bilzin Sumberg on

Citigroup announced last week that it will pay $7 billion to end an investigation by the U.S Department of Justice into misconduct related to its mortgage securitization practices. The blockbuster settlement came days before...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on

Council of EU Agrees on General Approach on the Fourth Money Laundering Directive and Revised Wire Transfer Regulation - On June 15, the Council of the EU published a note (dated June 13, 2014) outlining the general...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - April 14, 2014

Orrick, Herrington & Sutcliffe LLP on

Agencies Apply Increased Leverage Ratio to Large U.S. Banks - On April 8, the Fed, FDIC and OCC adopted the final rule to increase the leverage ratio for the largest U.S. banks. The final rule applies to U.S. bank...more

Manatt, Phelps & Phillips, LLP

Financial Services Law - Jan 30, 2014

Manatt, Phelps & Phillips, LLP on

Swipe Fee Settlement Yields More Litigation - Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - November 25,2013

Orrick, Herrington & Sutcliffe LLP on

FDIC Guidance on Deposit Advance Products - On November 21, the FDIC issued final supervisory guidance to FDIC-supervised financial institutions with respect to the risks imposed by certain deposit advance products. ...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - November 4, 2013

Orrick, Herrington & Sutcliffe LLP on

The Fed Approves New Fee Schedules - On October 31, the Fed announced new fee schedules, effective January 2, 2014, for payment services the Federal Reserve Banks provide to depository institutions (priced services). ...more

25 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide