News & Analysis as of

Federal Reserve

Your Daily Dose of Financial News

by Robins Kaplan LLP on

DealBook’s Common Sense column takes a look at the AT&T/Time Warner deal and the “battle lines” forming for an “epic” antitrust battle, in spite of the vertical nature of the merger (the companies don’t compete in any...more

Randal K. Quarles sworn in as member of the Board of Governors of the Federal Reserve System and as Vice Chair for Supervision

by Shearman & Sterling LLP on

Randal K. Quarles was ceremonially sworn in as a member of the Board of Governors of the Federal Reserve System and as Vice Chair for Supervision...more

Federal Reserve Bank of New York President Announces Retirement

by Shearman & Sterling LLP on

The US Federal Reserve Bank of New York announced that President and Chief Executive Officer William C. Dudley plans to retire in mid-2018, to ensure that a successor is appointed before his term ends in January 2019...more

New Federal Reserve Governor Randal Quarles Calls for Fresh Look at Various Dodd-Frank Regulatory Requirements

by Shearman & Sterling LLP on

Randal Quarles made his first public address after being formally sworn in as the new Vice Chairman for Supervision of the US Board of Governors of the Federal Reserve System at The Clearing House’s Annual Conference in New...more

Federal Reserve Enters Consent Order to Sanction Deceptive Practice Involving Credit Card Product

by Davis Wright Tremaine LLP on

The Board of Governors of the Federal Reserve System (Federal Reserve) recently exercised its authority to enforce laws prohibiting unfair or deceptive acts or practices committed by a financial institution under the Federal...more

CFPB/Fed/OCC increase exemption thresholds for appraisal requirement, Regs Z and M

by Ballard Spahr LLP on

The CFPB, Fed, and OCC have published notices in the Federal Register announcing that they are increasing three exemption thresholds that are subject to annual inflation adjustments. Effective January 1, 2018 through...more

Frederic Lalance Weighs in on FCPA Investigation Into Mozambique Maritime Security Deals

Frédéric Lalance, a partner in Orrick’s Paris litigation team and a member of the firm’s global Africa practice, recently spoke with Mozambique-based Zitamar News regarding an investigation by the U.S. Department of Justice...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

More on the Saudi crackdown initiated by Crown Prince Mohammed bin Salman over the weekend, including the government’s move to confiscate and freeze more than $800 billion in assets from the detailed princes and other...more

President expected to nominate Jerome Powell to succeed Janet Yellen as Federal Reserve chair

by DLA Piper on

White House sources have indicated that President Donald Trump will nominate Federal Reserve Governor Jerome Powell to succeed Janet Yellen as chair of the Federal Reserve, subject to Senate confirmation. Yellen's four-year...more

Fed issues consent order for bank’s alleged deceptive practices involving balance transfer credit cards

by Ballard Spahr LLP on

The Federal Reserve Board announced that it had issued a Consent Order against Mid America Bank and Trust Company (Bank) for alleged deceptive marketing practices in violation of section 5 of the FTC Act related to balance...more

Orrick's Financial Industry Week In Review

OFR Issues Report Challenging Standard for Identifying Systematically Important Banks - On October 26, 2017, the Office of Financial Research ("OFR"), an arm of the Treasury Department, issued a Report of its Director that...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The White House has made it official and nominated Fed governor Jerome Powell as the next Chair of the Federal Reserve. Powell is expected to continue the basic fiscal (though not necessarily regulatory) policies of the...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Facebook may have had a difficult day on the Hill. But a 79% rise in Q3 profit—driven, ironically enough, by online ads—should help soften the blow....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

Federal Reserve Board Governor Jerome Powell Delivers Remarks on Financial Innovation

In a recent speech at the 41st Annual Central Banking Seminar, sponsored by the Federal Reserve Bank of New York, Federal Reserve Board Governor Jerome H. Powell discussed financial innovation. Powell is rumored to be...more

Proposed Changes to HVCRE Open for Comment

by Dechert LLP on

At long last (at least for those of us who have been checking the Federal Register daily), the proposed HVADC rule has been published in the Federal Register and is open for comment...more

The Phasing Out of LIBOR: Initial Reaction and Preparation

by Foley & Lardner LLP on

1. Background: Elimination of LIBOR by 2021 - As has been widely publicized, on July 27, 2017, the U.K. Financial Conduct Authority announced that LIBOR (London Interbank Offered Rate) the longtime global interest rate...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

Anti-Money Laundering and Bank Secrecy Act Update

by Moore & Van Allen PLLC on

After the Panama Papers exposed efforts by wealthy individuals and government officials to hide funds offshore, government authorities around the world have responded with new legislation, regulations and enforcement actions...more

Yakety Yak – Talk Back: Regulators Respond to HVCRE Complaints

by Dechert LLP on

On September 27, 2017, the Federal Reserve, FDIC and OCC released a Notice of Proposed Rulemaking (NPR) that they describe as simplifying compliance with certain aspects of the agencies’ risk based capital (RBC) rules to,...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Goldman’s deal-making advising is sputtering a bit these days, so Lloyd and the gang are working on generating some of those deals themselves through a new Innovations Lab internal venture....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

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Yahoo—via new parent Verizon Communications—has officially tripled its estimate of the number of accounts affected by its 2013 cyber hack, putting the total at a staggering 3 billion (aka, all of them)....more

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