In December 2023, the Federal Deposit Insurance Corporation (FDIC) finalized amendments to its rules on official FDIC signage, bank advertisements, deposit insurance misrepresentations, and the misuse of the FDIC’s name or...more
Every industry is digitalizing, with banking more advanced than most. The goals are improved efficiency, better customer service, and higher revenues, but new technology is not without its risks....more
The Federal Financial Institutions Examination Council (FFIEC), an interagency body of leading financial regulators, including the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency,...more
On August 11, 2021, the Federal Financial Institutions Examination Council (FFIEC), the multi-agency authority responsible for issuing uniform principles and standards for supervision of financial institutions, published new...more
On August 11, 2021, the Federal Financial Institutions Examination Council (FFIEC) issued new guidance, titled “Authentication and Access to Financial Institution Services and Systems” (“Guidance”), which provides examples of...more
Government Suggests that Unusual Pleas are Just the Tip of an Iceberg - Chinese law generally prohibits its citizens from converting more than $50,000 in Chinese yuan into foreign currency in a year. On Monday, two men...more
President Trump recently signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, which is already making waves in the financial sector for its repeal of certain Dodd-Frank provisions that were...more
The US House of Representatives passed five bills focused on regulatory reform for financial institutions. The bills passed by the House include: the Housing Opportunities Made Easier Act (H.R. 2255), which amends the Truth...more
China’s infamous shadow banking industry—an $8.5 trillion marketplace that’s sprung up in reaction to the government’s “campaign against financial leverage”—is back and bigger than ever these days....more
The coverage landscape for “Business E-mail Compromise” (BEC) scams remains somewhat tenuous, as organizations and carriers continue to battle in court over the extent of coverage. Although recent positive,...more
The Federal Deposit Insurance Corporation (“FDIC”) has been publishing FDIC Consumer News quarterly since 1993 to help people protect their money and avoid financial fraud and theft. In its Winter 2016 issue, the FDIC has...more
Late last week, Lyft and First National Bank (FNB) were notified by the Federal Communications Commission (FCC) that they had violated the Telephone Consumer Protection Act (TCPA) when they required users to opt in to...more