News & Analysis as of

Federal Reserve Bank Holding Company Act Financial Services Industry

Venable LLP

Banking on a Nonbank Bank in 2024 - The ILC Option Revisited

Venable LLP on

Becoming or owning an industrial loan company (or ILC)—the elusive "nonbank bank" option, as Congress coined the term in 1987— still has an allure for financial services providers that want to (1) lend on a national scale...more

Troutman Pepper

Update: Federal Reserve's Revised Control Framework Now Effective and New FAQs Issued

Troutman Pepper on

New Rule Effective as of September 30 - The Federal Reserve’s revised control framework under the Bank Holding Company Act (BHCA) and Home Owners’ Loan Act (HOLA) issued on January 30, 2020 became effective on September 30...more

Goodwin

Federal Reserve Proposes Rules To Modernize Regulations That Implement CRA

Goodwin on

In the News. The Board of Governors of the Federal Reserve System (Federal Reserve) proposed rules to modernize the regulations that implement the Community Reinvestment Act (CRA); the Conference of State Bank Supervisors...more

Morgan Lewis

Final Rule on Regulatory ‘Control’ Framework: What It Means for Financial Services Market Participants

Morgan Lewis on

The Board of Governors of the Federal Reserve System (the Board) issued a much-anticipated final rule (Final Rule) on January 30 to amend and codify—in certain respects, for the first time—its framework for making...more

Goodwin

Financial Services Weekly News: Regulators Propose Easing Volcker Rule Restrictions

Goodwin on

In This Issue. Federal financial regulators brought January to an impactful conclusion last week. On the morning of January 30, five federal financial regulators issued a proposed rule that would fundamentally modify the...more

Morgan Lewis

The Federal Reserve Board Bank Holding Company Act Control Proposal: Observations And Reflections

Morgan Lewis on

The Federal Reserve Board’s proposed Bank Holding Company Act and Home Owners’ Loan Act control regulations, published in late April, are the culmination of a long-promised initiative by Board officials to bring clarity to a...more

Ballard Spahr LLP

Fed proposal to revise control rules would not create alternative to OCC fintech charter

Ballard Spahr LLP on

The Federal Reserve Board has published in the Federal Register a notice of proposed rulemaking with request for comment on a proposal to simplify and increase transparency of its rules for determining control of a banking...more

Morrison & Foerster LLP

Federal Reserve Proposes New Control Regulations

On April 23, 2019, the Board of Governors of the Federal Reserve System (“Federal Reserve”) released a proposed rule (“Proposed Rule”) to revise regulations related to the determination of “control” under the Bank Holding...more

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