In light of ongoing litigation and the Trump administration’s new policy approach, federal banking agencies intend to rescind the 2023 CRA final rule and revert to pre-2023 standards....more
4/8/2025
/ Banking Regulators ,
Banking Sector ,
Biden Administration ,
Community Reinvestment Act ,
FDIC ,
Federal Reserve ,
Final Rules ,
Judicial Authority ,
OCC ,
Regulatory Reform ,
Trump Administration
New FDIC guidance permits crypto activities by supervised institutions without prior approval, emphasizing risk management and compliance with applicable laws and regulations....more
In a break from restrictive Biden-era policies, OCC-supervised banks may now engage in crypto without supervisory nonobjection, potentially opening new avenues for innovation....more
Under its new acting chairman appointed by President Trump, the FDIC charges ahead with its new agenda by rolling back key Biden-era regulatory efforts.
On March 3, 2025, the Federal Deposit Insurance Corporation (FDIC)...more
Stablecoin regulation is a top priority for lawmakers, and three recent proposals reflect differing perspectives on how to achieve regulatory clarity while balancing safety and innovation....more
Fair access banking laws, at the epicenter of the debates between ESG and so-called antiwoke regulation and federal/state preemption, may see a resurgence under the new presidential administration.
In recent years, the...more
The FDIC seeks to stick to its statutory mandate while reducing impediments to fintech, innovation, mergers, bank formation, and efficient supervision....more
“Fair access” banking laws, at the epicenter of the debates between ESG and “anti-woke” regulation and federal/state preemption, may see a resurgence under the incoming administration.
In recent years, the landscape of...more
1/8/2025
/ Banking Sector ,
Biden Administration ,
Compliance ,
Consumer Protection Laws ,
Dodd-Frank ,
Environmental Social & Governance (ESG) ,
Fair Access to Credit ,
Fair Lending ,
Financial Institutions ,
Financial Regulatory Reform ,
OCC ,
Preemption ,
Regulatory Agenda ,
Regulatory Freeze ,
State and Local Government ,
Trump Administration
In 2024, the U.S. federal bank regulators were extremely active, with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation. Climate issues and...more
12/23/2024
/ Banking Sector ,
Banks ,
Basel III ,
Climate Change ,
Community Reinvestment Act ,
Executive Compensation ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Incentive Compensation ,
Mergers ,
Regulatory Agenda ,
Strategic Planning ,
Trump Administration
On September 10, Federal Reserve Vice Chair for Supervision Barr gave a speech (the Barr Speech) in which he outlined the principal changes to the federal banking agencies' 2023 proposal to implement the Basel Endgame (the...more
11/20/2024
/ Banking Sector ,
Banks ,
Fannie Mae ,
Federal Reserve ,
Financial Institutions ,
Freddie Mac ,
Global Systemically Important Banks (G-SIBs) ,
Housing Developers ,
Mandatory Clearing Requirements ,
Mortgages ,
Renewable Energy ,
Risk Assessment ,
Risk Management ,
Trade Associations
In February 2024, we issued a report on the public comments received on the proposal of the Board of Governors of the Federal Reserve System (Federal Reserve), the Office of the Comptroller of the Currency (OCC), and the...more
11/19/2024
/ Board of Governors ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Agencies ,
Global Systemically Important Banks (G-SIBs) ,
Market Risk Capital Rule ,
Minorities ,
OCC ,
Public Comment ,
Rulemaking Process ,
Securitization ,
Stress Tests
The rule aims to reduce market concentration by guaranteeing consumer access to personal financial data, but faces strident criticism and immediate legal challenge....more
10/30/2024
/ Consumer Data Requests ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
Dodd-Frank ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Open Banking ,
Personal Data ,
Sensitive Personal Information
Regulators seek to provide clarity and transparency on the bank merger review process, but changes may increase application complexity and unpredictability.
Consistent with ongoing initiatives to strengthen US antitrust...more
The proposal would make key changes to the definition of “deposit broker” with significant ramifications for banks, fintechs, bank-fintech partnerships, and other third parties in the financial services industry....more
The proposal would establish stricter oversight of certain transactions and responds to concerns that large asset managers may be exerting influence on FDIC-supervised institutions.
On July 30, 2024, the Board of...more
8/9/2024
/ Acquisitions ,
Banking Sector ,
Banks ,
Change in Control ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
NPRM ,
OCC ,
Proposed Amendments ,
Publicly-Traded Companies
On July 19, 2024, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration...more
8/5/2024
/ AML/CFT ,
Anti-Money Laundering ,
Anti-Terrorism Financing ,
Bank Secrecy Act ,
Banks ,
Compliance ,
Customer Due Diligence (CDD) ,
Financial Institutions ,
Financial Regulatory Agencies ,
FinCEN ,
NPRM ,
Proposed Rules ,
Risk Assessment ,
Risk Management
OCC-supervised institutions with $100 billion or more in average total consolidated assets must be adequately prepared to mitigate severe financial and non-financial risks. ...more
Insured depository institutions with $50 billion to less than $100 billion in average total assets are subject to new resolution reporting standards, with enhanced reporting for those with average total assets of $100 billion...more
The proposal seeks to make executive compensation arrangements more sensitive to risk and would require complex risk management programs to ensure compliance....more
5/30/2024
/ Dodd-Frank ,
Executive Compensation ,
FDIC ,
FHFA ,
Financial Services Industry ,
Incentive Compensation ,
NCUA ,
NPRM ,
OCC ,
Proposed Rules ,
Risk Management
With regulators keeping close watch, the results underscore the need for ongoing climate risk management investment and adaptation within the financial sector.
On May 9, 2024, the Board of Governors of the Federal...more
It was a muted start to the year for the acquisition and leveraged finance market due to a challenging macroeconomic climate. Interest rate hikes at one of the fastest paces on record, surging inflation (particularly in...more
4/5/2024
/ Acquisitions ,
AML/CFT ,
Base Erosion and Anti-Abuse Tax (BEAT) ,
Base Erosion Tax ,
Capital Markets ,
Commercial Bankruptcy ,
Corporate Taxes ,
EBITDA ,
Economic Sanctions ,
Financial Markets ,
Foreign Direct Investment ,
Insolvency ,
Interest Payments ,
Leveraged Finance ,
Loan Guaranties ,
Mergers ,
Publicly-Traded Companies ,
Regulatory Requirements ,
Secured Debt ,
Spain ,
Tax Deductions ,
UK ,
Unsecured Debt
The Proposal clarifies the FDIC’s bank merger approval process but may prove challenging for new large bank consolidations with the FDIC as the primary regulator.
On March 21, 2024, the Board of Directors of the Federal...more
4/4/2024
/ AML/CFT ,
Anti-Competitive ,
Anti-Money Laundering ,
Anti-Monopoly ,
Bank Merger Act ,
Bank Secrecy Act ,
Banks ,
Community Reinvestment Act ,
Dodd-Frank ,
FDIC ,
Industry Consolidation ,
Merger Reviews ,
Mergers ,
Policy Statement ,
Proposed Amendments ,
Public Comment ,
Risk Assessment
Banking agencies are alleged to have exceeded their congressional authorization, with potentially adverse consequences on banks and consumers.
On February 5, 2024, several banking trade groups[1] (the Plaintiffs) sued...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 OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in venture lending.
On November 1, 2023, the Office of the Comptroller of the Currency...more
11/29/2023
/ Banking Crisis ,
Banking Sector ,
Commercial Loans ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Lenders ,
New Guidance ,
OCC ,
Risk Management ,
State Charters