News & Analysis as of

Final Rules Depository Institutions

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Releases Final ‘Open Banking’ Rule on Personal Financial Data Rights

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) on personal financial data rights under Section 1033 of the Dodd-Frank Act. The Rule imposes significant new obligations on...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Finalizes Rule To Subject Large Payment Apps to Direct Supervision

On November 21, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule that deems payment app providers “larger participants” subject to the agency’s direct supervision (Rule)....more

Alston & Bird

CFPB Releases Chart to Help Determine if Nonbank Registration is Required

Alston & Bird on

What Happened? On October 3, 2024, the CFPB released a Nonbank Registration: Orders Rule Coverage Chart (the “Chart”) that summarizes how  an entity that is subject to an order may determine if it must register that order...more

Latham & Watkins LLP

CFPB Finalizes Open Banking Rule

Latham & Watkins LLP on

The rule aims to reduce market concentration by guaranteeing consumer access to personal financial data, but faces strident criticism and immediate legal challenge....more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 49: CFPB’s 1033 Rule: Where to From Here?

Orrick Partner John Coleman joins the RegFi podcast for a conversation about what lies ahead for the CFPB’s finalized 1033 rule, including uncertainties created by litigation challenges, election results and the need for...more

Ballard Spahr LLP

Trade Associations Sue CFPB on Same Day as it Issues Final Open Banking Rule Under Section 1033 of Dodd-Frank

Ballard Spahr LLP on

On October 22, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued its final rule implementing Section 1033 of the Dodd-Frank Act (the “Final Rule” or the “Open Banking Rule”), granting consumers greater access...more

Cozen O'Connor

CFPB Finalizes Personal Financial Data Rights Rule

Cozen O'Connor on

The CFPB has finalized a rule promoting a shift toward open and decentralized banking by requiring depository and nondepository entities to make certain data relating to consumers’ transactions and accounts available to...more

Littler

FDIC Approves Final Rule to Update Its Section 19 Regulations – Insured Depository Institutions Have Until October 1, 2024 to...

Littler on

On July 30, 2024, the Federal Deposit Insurance Corporation (“FDIC”) Board of Directors approved a final rule that updates the FDIC’s regulations concerning Section 19 of the Federal Deposit Insurance Act, 12 U.S.C.§ 1829...more

Venable LLP

New Year, New Signs - FDIC Amends Deposit Insurance Sign and Advertising Regulations

Venable LLP on

After an intense 2023 rulemaking, supervisory, and enforcement cycle for the federal banking agencies, the FDIC issued a final rule on FDIC official signs and advertising requirements right before the new year. The rule comes...more

Venable LLP

Uninsured Deposits and the FDIC Final Rule for Special Assessments on Banks

Venable LLP on

The FDIC recently approved a final rule to impose a special assessment on banks to recover losses in connection with the decision to guarantee uninsured deposits at two failed banks in March 2023. No banking organizations...more

Sheppard Mullin Richter & Hampton LLP

New York Adopts Final Commercial Financing Disclosure Regulations

On February 1, NY DFS announced the adoption of the final regulation implementing the New York State Commercial Finance Disclosure Law (CFDL) (N.Y. Fin. Serv. Law §§ 801 to 812). The regulations require companies that offer...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2022

Federal Reserve Considers Merits of Creating a U.S. Dollar Digital Currency The Federal Reserve has published a discussion paper that examines the pros and cons associated with the creation of a U.S. central bank digital...more

Troutman Pepper Locke

Brokered Deposits: FDIC Adds an ‎Additional Business Relationship to the Primary Purpose ‎‎Exception

Troutman Pepper Locke on

Effective January 10, 2022, the Federal Deposit Insurance Corporation (“FDIC”) issued a final rule ‎‎(the “Primary Purpose Rule”) that adds a specific business relationship that qualifies under the ‎Primary Purpose Exception...more

Goodwin

OCC Reconsiders Controversial Revisions to CRA Rules

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) announced that it will reconsider its controversial June 2020 final rule revising its Community Reinvestment Act (CRA) rules, and published its Semiannual...more

Goodwin

OCC Grants National Trust Bank Charter to Third Cryptocurrency Firm

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval to a third cryptocurrency firm chartering a national trust bank; the Consumer Financial Protection Bureau (CFPB)...more

Ballard Spahr LLP

FDIC Announces New Resources For Brokered Deposits Regulation

Ballard Spahr LLP on

On April 1, 2021, the FDIC’s final rule issued in December 2020 revising its brokered deposits regulation became effective. The full compliance date for the final rule is January 1, 2022. The rule established a new...more

Holland & Knight LLP

FDIC Adopts Final Rule Regarding ILC Applications

Holland & Knight LLP on

The Federal Deposit Insurance Corporation (FDIC) approved on Dec. 15, 2020, a final rule that clarifies how it intends to treat applications to insure an industrial bank or industrial loan company (each, an ILC) or to merge...more

Goodwin

OCC Finalizes “True Lender” Rule

Goodwin on

In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more

Goodwin

SEC Adopts Rule Providing New Regulatory Framework For Fund-Of-Funds

Goodwin on

In the News. The Securities and Exchange Commission (SEC) announced that it adopted Rule 12d1-4 under the Investment Company Act of 1940 (the 1940 Act), providing a new regulatory framework for fund-of-funds and final...more

Goodwin

CFPB, FTC And 50 States Show Power In Numbers With Operation Corrupt Collector

Goodwin on

In the News. The Consumer Financial Protection Bureau (CFPB), along with the Federal Trade Commission (FTC) and more than 50 federal and state law enforcement partners, announced Operation Corrupt Collector, a nationwide law...more

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

McGlinchey Stafford

FDIC Issues Final Rule Codifying Valid When Made Doctrine

McGlinchey Stafford on

At long last, the FDIC has issued its final rule codifying the “valid when made” doctrine. The rule was finalized on June 25, 2020, and clarifies that the interest rate lawfully assessed by an originating depository...more

Jones Day

Five Federal Financial Regulators Exclude Community Banks From Volcker Rule Regulations

Jones Day on

Federal financial regulators issued a rule excluding community banks from the Volcker Rule regulations. This rule conforms the regulations to similar statutory changes enacted in May 2018. On July 9, 2019, the Board of...more

Ruder Ware

Expanded Examination Cycle

Ruder Ware on

The OCC, the Board of Governors of the Federal Reserve System, and the FDIC published an interagency interim final rule effective August 29, 2018. The interim final rule amends the regulations governing eligibility for an...more

A&O Shearman

US Federal Banking Agencies Finalize Rule Expanding Examination Cycle for Small Insured Depository Institutions and US Branches...

A&O Shearman on

The US Federal Deposit Insurance Corporation, Federal Reserve Board and Office of Comptroller of Currency issued interagency final rules that increase the number of small banks and savings associations eligible for an...more

28 Results
 / 
View per page
Page: of 2

"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:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide