Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •New Jersey AG Says Bumble Bumbled Background Check...more
California AG Rob Bonta issued letters to small banks and credit unions warning that overdraft and returned deposited item fees likely violate the state’s Unfair Competition Law and the federal Consumer Financial Protection...more
A recent bipartisan bill, if enacted, would particularly benefit small lenders and bank/fintech partnerships by promoting transparency, appellate rights and examiner accountability. On Dec. 14, 2023, a bipartisan group of...more
A recent bipartisan bill, if enacted, would particularly benefit small lenders and bank-fintech partnerships by promoting transparency, appellate rights, and examiner accountability. On December 14, 2023, a bipartisan...more
The FDIC’s proposed bank resolution planning rule would make significant changes to its current rule and would cover more banks—including banks that have been subject to a moratorium on filing for the past five years. Other...more
Larger banking organizations directly affected by the U.S. federal banking agencies' recent proposed capital rule have been busy analyzing the substantial changes, increased costs, and other requirements and effects that have...more
Regulatory Developments - FinCEN Issues NPRM Regarding Access to Beneficial Ownership Information and Related Safeguards - On December 15, FinCEN issued a Notice of Proposed Rulemaking (NPRM) that would implement...more
SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more
FDIC and OCC Propose CRA Modernization Rule with Opt-Out for Small Banks The FDIC and the OCC have jointly proposed amendments to modernize the agencies’ Community Reinvestment Act (“CRA”) regulations, which are intended...more
On Thursday, December 12, 2019, the OCC and the FDIC issued a notice of proposed rulemaking (NPR) in an effort to modernize the regulatory framework behind the Community Reinvestment Act (CRA). Last autumn, renewed...more
On December 12, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) issued a proposed rule that would result in major changes to the rules applying the Community...more