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Banks

Mayer Brown

OCC Withdraws Climate Risk Management Principles

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On March 31, 2025, the Office of the Comptroller of the Currency withdrew its participation in the interagency principles for climate-related financial risk management for large financial institutions (the “Climate...more

Ballard Spahr LLP

House sends Trump resolution to nullify CFPB overdraft rule

Ballard Spahr LLP on

The resolution to nullify the CFPB’s overdraft rule now is in President Trump’s hands....more

Moore & Van Allen PLLC

FDIC Previews Paring Back Final CIDI Resolution Planning Rule

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In the discussions following the presidential administration change about deregulation and paring back of post-SVB reforms, we had seen relatively little about resolution planning. That changed on Tuesday, when Acting FDIC...more

Troutman Pepper Locke

OCC Notifies Congress of Major Email System Security Breach

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On April 8, the Office of the Comptroller of the Currency (OCC) officially notified Congress of a significant information security incident involving its email system. This notification, mandated by the Federal Information...more

Quarles & Brady LLP

New York Cybersecurity Regulation Requires Submission of Compliance Certification or Acknowledgement of Noncompliance Next Week

Quarles & Brady LLP on

On April 3, 2025, the New York State Department of Financial Services (“DFS”) issued reminders about upcoming implementation and reporting deadlines related to its cybersecurity regulations. Upcoming deadlines require...more

Mayer Brown

FDIC Streamlines Process for Cryptocurrency Activities by Banks It Regulates and Speculates on Additional Permissible Activities

Mayer Brown on

On March 28, 2025, the Federal Deposit Insurance Corporation (FDIC) issued guidance on state nonmember bank and state savings association participation in certain cryptocurrency activities (“FIL-7-2025”). ...more

Troutman Pepper Locke

Where the F(BO) is the Money? Part 3 – DLT Account Ledgering

Troutman Pepper Locke on

This is the final article in our three-part series 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

Sullivan & Worcester

Sullivan works with ITFA on Launch of Short Term SWIFT FI Trade Loan Template

Sullivan & Worcester on

London, UK – Geoffrey Wynne, partner and head of Sullivan's Trade & Export Finance Group, worked with an ITFA working group headed by Paul Coles, chair of its Market Practice Committee, to develop a Short Term SWIFT Financial...more

Sheppard Mullin Richter & Hampton LLP

Federal Regulators Signal Reversal on 2023 CRA Modernization Rule

On March 28, the Federal Reserve, FDIC, and OCC jointly announced plans to rescind 2023 revisions to the Community Reinvestment Act (CRA) regulations. The agencies stated they would return to the previous regulatory framework...more

Sheppard Mullin Richter & Hampton LLP

FDIC Updates Crypto Guidance, Removes Pre-Approval Requirement for Banks

On March 28, the FDIC issued updated guidance clarifying the process for FDIC-supervised institutions to engage in crypto-related activities. The guidance rescinds and replaces prior instructions issued in 2022 and makes...more

Orrick, Herrington & Sutcliffe LLP

House Financial Services Committee chair urges regulatory changes for CFPB and prudential regulators

On April 1, the Chairman of the U.S. House Committee on Financial Services, Rep. French Hill (R-AR) released nine letters they sent to the heads of the FDIC, the OCC, the Fed, the CFPB, the SEC, and the Federal Stability...more

Orrick, Herrington & Sutcliffe LLP

OCC withdraws climate risk guidelines for large banks

On March 31, the OCC announced that it had withdrawn from participating in the interagency principles for managing climate-related financial risks for large financial institutions....more

Orrick, Herrington & Sutcliffe LLP

FDIC releases February enforcement actions, terminates 100 waivers

On March 28, the FDIC released a list of administrative enforcement actions taken against banks and individuals last month. During February, the FDIC issued seven safety and soundness orders, including one order terminating a...more

Orrick, Herrington & Sutcliffe LLP

Fed report explores risk sensitivity benefits in bank capital requirements

On March 28, the Fed released a report titled “Outlining and Measuring the Benefits of Risk Sensitivity in Bank Capital Requirements” evaluating the integration of risk regarding bank capital requirements. The report asserted...more

Orrick, Herrington & Sutcliffe LLP

Fourth Circuit reverses decision in $550K ACH fraud transfer case

On March 26, the U.S. Court of Appeals for the Fourth Circuit reversed and remanded a lower court’s decision in a case involving a fraudulent email scam that caused a financial loss of over $550,000. The plaintiff, a metal...more

Orrick, Herrington & Sutcliffe LLP

Fed of New York releases paper analyzing credit card interest rates

On March 31, the New York Fed published a research paper discussing credit card interest rates and what is behind how they are set. The research explored the relationship between the federal funds rate and the annual...more

DLA Piper

Mitigating Risks for Banks, Fintech Companies, and Payment Processors

DLA Piper on

Emerging issues under the Electronic Fund Transfer Act, Regulation E, and the UCC - As banks, fintech companies, and payment processors continue to innovate and partner on payment and wallet solutions, they must navigate the...more

GeoDataVision

The 2023 CRA Needed to be Repealed and Replaced: The Confusing Ratings System (Part 3 of 4)

GeoDataVision on

When the new CRA rule was published in late 2023 it contained some very serious flaws that need to be corrected. In fact, some of those flaws are so bad that they left the Trump Administration with only 2 choices,...more

Jones Day

OCC Ends Climate Risk Guidance for Large Banks

Jones Day on

In a recent shift, the Office of the Comptroller of the Currency (OCC) has officially ended its climate risk guidance for large U.S. banks. The 2021 guidance called on major banks to incorporate climate-related risks into...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

U.S. Supreme Court Draws the Line: Misleading Statements Aren’t Always False

Last week a unanimous U.S. Supreme Court issued an opinion in Thompson v. United States, 2025 WL 876266 (2025), holding that a statement that is literally true but allegedly misleading, is not a “false statement” under 18...more

Cozen O'Connor

Democratic AGs Cheer Federal Court’s Halt of CFPB Dismantling

Cozen O'Connor on

A U.S. District Court has granted a preliminary injunction in National Treasury Employees Union v. Vought preventing the CFPB’s Acting Director from taking further steps to dismantle the agency....more

Moore & Van Allen PLLC

The Desk: April Edition

March is over and all of our brackets are busted. We hope you have been enjoying, Moore & Van Allen’s very own, Jay Bilas’ coverage on ESPN. In this month’s newsletter we will walk you through the CFTC’s continued updates on...more

Jones Day

FDIC Rescinds Prior Notification Requirement for Banks' Permissible Crypto Activities

Jones Day on

The FDIC has rescinded an earlier Financial Institution Letter establishing a prior notification requirement for FDIC-supervised institutions that wish to engage in specified crypto-related activities and has clarified that...more

Cooley LLP

FDIC: Banks Can Engage in Crypto-Related Activities Without Prior Notice

Cooley LLP on

On March 28, 2025, the Federal Deposit Insurance Corporation (FDIC) clarified that FDIC-supervised institutions do not need to provide notice or obtain approval from the FDIC prior to engaging in crypto-related activities....more

Skadden, Arps, Slate, Meagher & Flom LLP

The Capital Ratio Podcast | Stablecoins: Regulatory Issues for UK and EU Banks To Consider

We are pleased to present “The Capital Ratio,” a new podcast that explores key regulatory topics impacting the banking and financial sector. In our debut episode, we dive into the key regulatory considerations for U.K. and...more

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