News & Analysis as of

Banking Sector Fair Lending Federal Deposit Insurance Corporation

Sheppard Mullin Richter & Hampton LLP

Takeaways From the FDIC’s Spring 2024 Consumer Compliance Supervisory Highlights

On March 28, the FDIC released the spring edition of its consumer compliance supervisory highlights. The FDIC supervises approximately 3,000 state-chartered banks and thrifts that are not members of the Federal Reserve...more

Kilpatrick

In Cross River Consent Order, FDIC Focuses on Marketplace Lending and Third Party Lending Issues

Kilpatrick on

The Federal Deposit Insurance Corporation (“FDIC”) recently entered into a consent order with Cross River Bank (“CRB”) addressing what the FDIC considered to be unsafe and unsound banking practices associated with CRB’s fair...more

Troutman Pepper

FDIC Publication Focuses on Key Consumer Compliance Issues Identified During 2022

Troutman Pepper on

On April 5, the Federal Deposit Insurance Corporation (FDIC) released its Consumer Compliance Supervisory Highlights report, providing a high-level overview of consumer compliance issues identified by the agency during 2022...more

Orrick, Herrington & Sutcliffe LLP

FDIC issues 2023 Consumer Compliance Supervisory Highlights

On April 5, the FDIC released the March 2023 edition of the Consumer Compliance Supervisory Highlights, which is intended to “enhance transparency regarding the FDIC’s consumer compliance supervisory activities and to provide...more

Hudson Cook, LLP

CFPB Bites of the Month - May Top 10

Hudson Cook, LLP on

Bite #10 - The CFPB provided Spanish-language disclosures. To help financial institutions better support Spanish-speaking communities, the CFPB unveiled Spanish translations of the following federal model disclosures:...more

McGuireWoods LLP

FDIC Consumer Compliance Supervisory Highlights for State and Community Banks

McGuireWoods LLP on

On March 31, 2022, the Federal Deposit Insurance Corporation (FDIC) issued the March 2022 edition of its Consumer Compliance Supervisory Highlights. The publication provides a high-level overview of consumer compliance issues...more

Goodwin

SEC Proposes Changes to Private Fund Regulation

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed changes to private fund regulation; the Office of the Comptroller of the Currency (OCC) succeeded in validating its “valid-when-made” rulemaking; the...more

Morrison & Foerster LLP

Financial Services Report - Spring 2021

Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

Ballard Spahr LLP

FDIC issues research paper on use of digital footprints to assess creditworthiness

Ballard Spahr LLP on

The FDIC’s Center for Financial Research has issued a research paper that discusses the use of the information contained in a “digital footprint,” meaning the information that people leave online by accessing or registering...more

Ballard Spahr LLP

Community banks trade group asks Trump Administration to curb fair lending enforcement

Ballard Spahr LLP on

The Independent Community Bankers of America issued a statement calling on the Trump administration “to rein in the overzealous application of fair lending laws.” ICBA stated that community banks are threatened by a recent...more

Ballard Spahr LLP

NYDFS, American Bankers Association Weigh In On OCC Fintech Charter Proposal

Ballard Spahr LLP on

The New York State Department of Financial Services (NYDFS) has come out strongly against an Office of the Comptroller of the Currency (OCC) proposal to grant national bank charters to financial technology (fintech)...more

BakerHostetler

ICYMI: Financial Services Risk Summit

BakerHostetler on

On March 3, 2016, the BakerHostetler Financial Services industry team held its inaugural Financial Services Risk Summit. The speakers and panels addressed several key areas affecting the financial services sector: regulatory...more

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