The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency recently announced proposals to update their approaches to evaluating bank mergers and other business combinations under the Bank Merger...more
5/1/2024
/ Bank Merger Act ,
Banking Sector ,
Banks ,
Biden Administration ,
Executive Orders ,
FDIC ,
Merger Reviews ,
Mergers ,
NPRM ,
OCC ,
Policy Statement ,
Proposed Rules
On Sunday evening, the U.S. Department of the Treasury, Federal Reserve, and the Federal Deposit Insurance Corporation announced measures to (1) prevent losses to all depositors — including all uninsured depositors — after...more
3/17/2023
/ Banking Sector ,
Banks ,
Biden Administration ,
Deposit Accounts ,
Deposit Insurance ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Insolvency ,
Receivership ,
Relief Measures ,
Silicon Valley ,
U.S. Treasury
On Sunday evening, the Department of the Treasury (Treasury), Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) announced measures to (1) prevent losses to all depositors—including all uninsured...more
3/14/2023
/ Banking Sector ,
Banks ,
Deposit Accounts ,
Deposit Insurance ,
FDIC ,
Federal Reserve ,
Insolvency ,
Receivership ,
Relief Measures ,
Silicon Valley ,
U.S. Treasury
A flurry of activity on January 27 signaled continued skepticism from the Federal Reserve of crypto-asset-related activities generally and open, public or decentralized networks in particular....more
On January 3, the Board of Governors of the Federal Reserve (FRB), Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued a Joint Statement on Crypto-Asset Risks to Banking...more
1/9/2023
/ Banking Sector ,
Commercial Bankruptcy ,
Cryptoassets ,
Cryptocurrency ,
FDIC ,
Financial Regulatory Agencies ,
FRB ,
Joint Policy Statements ,
NYDFS ,
OCC ,
Prudential Standards ,
Risk Alert ,
Risk Assessment
The Financial Crimes Enforcement Network (“FinCEN”) has continued a spate of regulatory activity related to financial crimes compliance matters in the first year of the Biden Administration, recapped in its recent report...more
7/15/2021
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Biden Administration ,
Compliance ,
Cybersecurity ,
Drug Trafficking ,
Enforcement Priorities ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Human Trafficking ,
No-Action Letters ,
Nonbank Firms ,
Ransomware ,
Significant Transnational Criminal Organization ,
Terrorism Funding ,
Virtual Currency
From June 2 to June 4, leading central bankers, policymakers, regulators, private sector CEOs, civil society members and academics gathered for the Green Swan 2021 Global Virtual Conference.
The conference was co-hosted...more
6/8/2021
/ Banking Sector ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
European Central Bank ,
Federal Reserve ,
Financial Crisis ,
Financial Institutions ,
Financial Reporting ,
Insurance Industry ,
International Financial Reporting Standards ,
International Monetary Fund ,
Paris Agreement ,
Professional Conferences ,
Risk Assessment ,
Risk Management ,
Sustainability ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
Transparency ,
United Nations
In a significant move to provide liquidity to U.S. corporations, the Federal Reserve Board announced today that it will establish a Commercial Paper Funding Facility (“CPFF2020”). The Federal Reserve’s action parallels its...more
In legislative language accompanying his proposed budget, New York Governor Andrew M. Cuomo proposes to significantly expand the powers of the New York Department of Financial Services (DFS), the state’s banking and insurance...more
Banks and credit unions that issue reloadable, general purpose prepaid cards must apply Customer Identification Program (CIP) procedures to those cardholders, according to guidance issued by the federal banking regulators and...more
For the first time in over twenty years, the Office of the Comptroller of the Currency (OCC) has formally changed its policy governing civil money penalties (CMP) against national banks, federal savings associations, federal...more
On December 17, 2015, the Office of the Comptroller of the Currency (OCC) proposed guidelines establishing enforceable standards for recovery planning by certain large national banks, federal savings associations and insured...more
On October 15, 2015, the Consumer Financial Protection Bureau (CFPB) issued a final rule to implement amendments to the Home Mortgage Disclosure Act (HMDA) made by the Dodd-Frank Wall Street Reform and Consumer Protection...more
10/23/2015
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Discrimination ,
Dodd-Frank ,
Final Rules ,
HMDA ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Popular ,
Regulation C ,
Reporting Requirements
On July 21, 2015, the U.S. Department of Defense (“DOD”) announced the final rule amending the Military Lending Act’s (“MLA”) implementing regulations. The changes apply the MLA’s strict lending restrictions to consumer...more
7/23/2015
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Contract Terms ,
Department of Defense (DOD) ,
Financial Institutions ,
Interest Rates ,
Loan Documentation ,
Mandatory Arbitration Clauses ,
Military Lending Act ,
Military Service Members ,
Regulation Z ,
SCRA ,
Truth in Lending Act (TILA)
For the first time in a decade, the Treasury Department has released its own anti–money laundering (AML) and terrorist financing Risk Assessments, which may both set a strategic framework for future AML regulatory...more
6/19/2015
/ AML/CFT ,
Anti-Money Laundering ,
Anti-Terrorism Financing ,
Banking Sector ,
Casinos ,
Corporate Counsel ,
Digital Currency ,
FATF ,
Financial Institutions ,
Prepaid Payment Products ,
Risk Assessment ,
Securities ,
U.S. Treasury