News & Analysis as of

Financial Regulatory Reform Banks

Troutman Pepper

Preparing for the FDIC’s Final Enforceable Guidelines on Corporate Governance and Risk Management: State Nonmember Banks with...

Troutman Pepper on

Over one year ago, on October 3, 2023, the Federal Deposit Insurance Corporation (FDIC) proposed supervisory guidelines that would establish standards for corporate governance and risk management for all state non-member...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

Eversheds Sutherland (US) LLP

Payment matters - October 2024

Upcoming global developments for the payment sector - Asia - 1. Hong Kong: Launch of Phase 2 of the e-Hong Kong Dollar Pilot Programme - On September 23, 2024, the Hong Kong Monetary Authority (HKMA) announced the...more

Troutman Pepper

CFPB Issues Final Section 1033 Open Banking Rule: Legal Challenge Filed Immediately

Troutman Pepper on

This week, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rule on personal financial data rights, purportedly aimed at enhancing consumer control over their financial data and promoting competition...more

Troutman Pepper

California DFPI’s Earned Wage Access Regulations Approved by OAL

Troutman Pepper on

On October 11, the Office of Administrative Law (OAL) approved the California Department of Financial Protection and Innovation’s (DFPI) proposed regulations on direct-to-consumer (i.e., non-employer offered) earned wage...more

GeoDataVision

Have Regulators Already “Raised the Bar” for CRA Exams?

GeoDataVision on

When the new 2023 CRA Rule was approved by regulators FDIC Chairman Martin Gruenberg indicated one of the goals was to “raise the bar” for CRA performance ratings. Now that the final 2023 CRA performance ratings are in it...more

Jones Day

CRD VI Requires Banks to Focus Even More on ESG Risk Management

Jones Day on

Against the backdrop of the comprehensive recast of European Union ("EU") banking legislation, the EU legislator is increasingly focused on Environmental, Social, and Governance ("ESG") risks. In this context, ad hoc...more

A&O Shearman

HM Treasury Statement on Reforms to Bank Ring-Fencing

A&O Shearman on

The House of Commons has published a written statement by Tulip Siddiq, Economic Secretary to HM Treasury, on the status of reforms to the bank ring-fencing regime. Ms Siddiq states that the U.K. Government will implement a...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 48: Digital Infrastructure, Fintech and the Future of Banking

Alex Acree, Chief Legal Officer at Unit, joins RegFi co-hosts Jerry Buckley and Caroline Stapleton to explore the role that a financial services infrastructure company can play in the evolving delivery of financial services...more

A&O Shearman

Single Resolution Board Adapts MREL Policy to Align with the Daisy Chains Directive

A&O Shearman on

The Single Resolution Board has published a communication on the changes to its minimum requirements for own funds and eligible liabilities policy to be implemented in line with the "Daisy Chains Directive" (Directive (EU)...more

Troutman Pepper

Braving the Bumps in Banking as a Service

Troutman Pepper on

“Banks have to have the policies, the personnel and the procedures in place to be able to appropriately satisfy the regulatory obligations with respect to [that] due diligence,”...more

GeoDataVision

The new Community Reinvestment Act Omits Critical Types of Credit That Meet Community Needs

GeoDataVision on

Recent news stories explain the criticism of Senator Warren and Congresswoman Waters directed at banks that are litigating the 2023 CRA rule.  But perhaps their frustration should be focused on the regulators who have...more

Troutman Pepper

Fiserv Nets Special Banking Charter in Georgia

Troutman Pepper on

The Georgia agency approved the Credorax application, but card networks refused to work with that company, said James Stevens, co-leader of the financial services industry group at the law firm Troutman Pepper....more

Troutman Pepper

Where the F(BO) is the Money? Part 2 — Adopting the Right Lessons from Synapse

Troutman Pepper on

This is the second of three articles focused on a key question: as bank-fintech partnerships continue to play a vital role in driving financial services, how does the industry make this system safer and better?...more

Troutman Pepper

States Join Colorado in Defense of Interest Rate Opt-Out Law

Troutman Pepper on

On September 20, 13 states and Washington, D.C. joined Colorado in its appeal asking the Tenth Circuit to uphold a state law imposing more restrictive interest rate caps on loans from out-of-state banks to residents, arguing...more

A&O Shearman

Regulatory monitoring - September 2024

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EC: Report on the future of European competitiveness Status: Final - The EC has published a report on the future of European competitiveness,...more

Cadwalader, Wickersham & Taft LLP

The FDIC’s Proposed “Synapse” Rule Affects Deposit Accounts Opened by Fintech Custodians

On September 17th, the Federal Deposit Insurance Corporation ("FDIC") issued a proposed rule entitled “Recordkeeping for Custodial Accounts” with comments due sixty days from the date of publication in the Federal Register...more

Ballard Spahr LLP

FDIC board approves NPRM that would increase recordkeeping for custodial accounts

Ballard Spahr LLP on

On September 17, 2024, the FDIC board approved a notice of proposed rulemaking that would increase recordkeeping obligations for bank deposits received from third party, non-bank companies that accept those deposits on behalf...more

Mayer Brown

FDIC Proposes New Recordkeeping Requirements for Custodial Accounts

Mayer Brown on

On September 17, 2024, the Federal Deposit Insurance Corporation (FDIC) proposed extensive new recordkeeping requirements and other compliance obligations (the “Proposal” ) for certain types of deposit accounts frequently...more

Ballard Spahr LLP

CFPB Takes Aim at Cash Back Fees

Ballard Spahr LLP on

Some dollar store chains and other retailers now are charging consumers for obtaining cash back on debt or prepaid card purchases—transactions that generally have been free in the past–the CFPB reported....more

Troutman Pepper

FDIC Proposes New Rule to Strengthen Recordkeeping for Third-Party Deposits

Troutman Pepper on

On September 17, the Federal Deposit Insurance Corporation (FDIC) announced a notice of proposed rulemaking (Proposal) aimed at enhancing recordkeeping for bank deposits received from fintech and other third-party, non-bank...more

Katten Muchin Rosenman LLP

Basel III Endgame: Will Banks Have to Increase Their Capital Requirements?

On Tuesday, September 10, the Federal Reserve announced a reproposal of the much discussed and awaited Basel III Endgame. However, before we dive into the reproposal, it is important to take a step back and look at how we got...more

McGlinchey Stafford

Podcast: Deep Dive into the Regulatory Landscape of Bank Partnerships Featuring American Fintech Council CEO, Phil Goldfeder [More...

McGlinchey Stafford on

McGlinchey attorneys Robert Savoie and Rachael Aspery are joined by Phil Goldfeder, the CEO of the American Fintech Council, in this installment of the Deep Dive into Bank Partnerships. The podcast focuses primarily on...more

Troutman Pepper

Where the F(BO) Is the Money? Part 1 – Synapse’s Clarion Call for Standards

Troutman Pepper on

This is the first of three articles focused on a key question: as bank-fintech partnerships continue to play a vital role in driving financial services, how does the industry make this system safer and better?...more

Troutman Pepper

League of Southeastern Credit Unions and Virginia Credit Union League Announce Merger Plans

Troutman Pepper on

Tuesday, the League of Southeastern Credit Unions (LSCU) and the Virginia Credit Union League (VCUL) announced plans to merge, marking the first state league consolidation since 2022. According to the leagues’ combined...more

327 Results
 / 
View per page
Page: of 14

"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