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Final Rules Banks Banking Sector

Katten Muchin Rosenman LLP

Financial Industry Concerns Cause FCC to Delay Implementation of Broad Consent Revocation Requirement under TCPA

On April 11, 2025, a controversial new rule by the Federal Communications Commission (FCC) was set to take effect to modify consent revocation requirements under the Telephone Consumer Protection Act (TCPA). But each of the...more

Moore & Van Allen PLLC

FDIC Previews Paring Back Final CIDI Resolution Planning Rule

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In the discussions following the presidential administration change about deregulation and paring back of post-SVB reforms, we had seen relatively little about resolution planning. That changed on Tuesday, when Acting FDIC...more

Hudson Cook, LLP

Massachusetts Junk Fee Regulation Presents Challenges to Advertising of Bank Deposit Products

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In early March, nearly a year and a half after it was initially proposed, the Massachusetts Attorney General's Office finalized the Commonwealth's "junk fee" regulation (the "Final Rule") while simultaneously issuing a...more

GeoDataVision

Agencies Announce Intention to Rescind 2023 CRA Rule

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Today, March 28, the regulators announced what many have been anticipating. The Agencies issued a press release indicating they intend to rescind the 2023 CRA rule....more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2024

CFPB Imposes $5 Cap on Overdraft Fees Charged by Large Banks - The CFPB has adopted a final rule capping overdraft fees at $5 for banks and other depository institutions with more than $10 billion in assets (covered...more

Miller Nash LLP

Regulatory Update: Final Rule on Courtesy Overdraft Services

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We previously posted an article about a proposed rule that could drastically affect the courtesy overdraft services offered by many financial institutions (you can refresh your memory here). Well, the time has come. The...more

Clark Hill PLC

Navigating the New CFPB Overdraft Rule: Implications for Financial Institutions

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The Consumer Financial Protection Bureau (CFPB) recently finalized its “Overdraft Lending: Very Large Financial Institutions Rule,” introducing sweeping changes to how overdraft credit is structured and regulated for the...more

Orrick, Herrington & Sutcliffe LLP

CFPB finalizes overdraft lending rule for “very large financial institutions”

On December 12, the CFPB issued a final rule, restricting the amount that certain financial institutions can charge for their overdraft service. As previously covered by InfoBytes, historically, the Fed exempted banks from...more

Saul Ewing LLP

Big Banks, Beware – CFPB Issues Final Rule to Cap Overdraft Fees

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After nearly a year of speculation, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule (the “Rule”) to cap overdraft fees that financial institutions with at least $10 billion in assets can assess to...more

Orrick, Herrington & Sutcliffe LLP

FDIC updates its signs and advertising requirement Q&As

On December 2, the FDIC updated its Q&As related to its final rule “FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC Name or Logo,” affecting 12...more

Orrick, Herrington & Sutcliffe LLP

FDIC extends compliance deadline for amended sign and advertising requirements

On October 17, the FDIC issued a notice delaying the deadline to comply with its final rule governing its official signage from January 1, 2025, to May 1, 2025. The final rule, titled “FDIC Official Signs and Advertising...more

Orrick, Herrington & Sutcliffe LLP

OCC releases final rule on the Bank Merger Act

On September 17, the OCC approved a final rule amending its procedures for reviewing applications under the Bank Merger Act. The rule will aim to provide clearer guidelines for institutions regarding the OCC’s review process...more

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2024

The CFPB, as part of its initiative to accelerate the shift to open banking in the United States, issued a final rule on June 5 that outlines the qualifications to become a recognized industry standard setting body, which can...more

Orrick, Herrington & Sutcliffe LLP

OCC publishes bank guidance on shortening the standard settlement cycle following SEC final rule

On January 17, the OCC issued its OCC Bulletin 2024-3 which highlighted the actions banks should take to prepare for the upcoming changes to the standard settlement cycle. These new changes are designed to “reduce the credit,...more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2023

A recent OCC report identified key issues facing the federal banking system, including increasing credit risk due to higher interest rates, increasing risk in commercial real estate lending, prolonged inflation, declining...more

Orrick, Herrington & Sutcliffe LLP

Agencies issue final rule to modernize Community Reinvestment Act regulations

On October 24, the Fed, FDIC, and OCC issued an interagency announcement regarding the modernization of their rules under the Community Reinvestment Act (CRA), a law enacted in 1977 to encourage banks to help meet the credit...more

Vedder Price

Final Rule Updating the Community Reinvestment Act Issued by Bank Regulators

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On October 24, 2023, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (together, the “Agencies”) issued a final rule designed to...more

Ballard Spahr LLP

Key differences between the OCC’s rescinded 2020 CRA final rule and the 2022 CRA revisions proposed by U.S. banking regulators

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As we previously reported, the Office of the Comptroller of the Currency (“OCC”) rescinded its 2020 Community Reinvestment Act (“CRA”) final rule (the “2020 CRA Final Rule” or the “Rescinded Rule”) in December 2021 and has...more

Seward & Kissel LLP

FDIC Adopts Rule Prohibiting Misleading Statements About FDIC Insurance that Impacts a Broad Range of Deposit Placement...

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Introduction - On May 17, 2022, the Board of Directors of the Federal Deposit Insurance Corporation (“FDIC”) adopted a final rule (“Rule”) setting forth its procedures for investigating and enforcing false advertising,...more

Sheppard Mullin Richter & Hampton LLP

May 1st is Around the Corner: Bank Computer-Security Incident Notification Requirements

A few months ago, we published a post about the OCC, FDIC, and Federal Reserve Board’s final rule to improve information sharing about cyber incidents that may affect the U.S. banking system. Under the final rule, banks and...more

Akin Gump Strauss Hauer & Feld LLP

US Banks Must Now Report Hacks Within 36 Hours

The banking regulators of the Federal Reserve Board, Federal Deposit Insurance Corporation, and the Office of the Comptroller of Currency jointly announced a new rule requiring banking organizations in the United States to...more

Ballard Spahr LLP

OCC issues final rule rescinding June 2020 CRA rule and restoring 1995 framework

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On December 4, 2022, the OCC issued a final rule that rescinds its June 2020 Consumer Reinvestment Act (CRA) final rule and replaces it with a rule that is largely based on the OCC’s 1995 CRA rule that was adopted jointly...more

Dorsey & Whitney LLP

The Prudential Bank Regulators Adopt Federal Data Interruption Notice Requirements for FDIC-Insured Institutions and Service...

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On November 23, 2021, the Office of the Comptroller of the Currency (the “OCC”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Federal Reserve Board (the “Prudential Regulators”) exercised their collective...more

Sheppard Mullin Richter & Hampton LLP

Beginning in May 2022 Banks Will Have 36 Hours to Disclose Certain Types of Cyber Incidents

Federal banking regulators issued a final rule that impacts how banks and other regulated entities report certain data incidents. Those subject to these new reporting requirements include U.S. banks and bank service...more

Pillsbury Winthrop Shaw Pittman LLP

Federal Regulators Adopt New Computer-Security Incident Notification Requirements for Banks and Service Providers

In response to increasingly frequent and sophisticated cybersecurity attacks on banks and bank service providers, the federal prudential banking regulators—the Office of the Comptroller of the Currency (OCC), the Board of...more

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