News & Analysis as of September 26, 2024

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The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships. less -

FDIC issues NPRM on brokered deposits

Orrick, Herrington & Sutcliffe LLP on 8/8/2024

On July 30, the FDIC released an NPRM that would provide restrictions, update definitions, and provide new exceptions to the rule on brokered deposits. The FDIC explained that these proposed amendments would simplify...more

FDIC solicits a request for information on deposit data

Orrick, Herrington & Sutcliffe LLP on 8/8/2024

On July 30, the FDIC released an RFI for deposit data, specifically data not reported in the Federal Financial Institutions Examination Council’s (FFIEC) call reports or other regulatory reports. The FDIC is seeking comments...more

FDIC Proposal Would Classify More BaaS Deposits as Brokered, Not Core

Troutman Pepper on 8/6/2024

“I would say a lot of these fintechs deposits are actually the opposite of hot money,” said Matthew Bornfreund, a partner at Troutman Pepper. “I think a problem with this proposed rulemaking is, the FDIC asserts that these...more

Promissory Notes - Banking & Finance Insights: V 3, Issue 3, March 2023

Spilman Thomas & Battle, PLLC on 4/3/2023

Now is the Time to Guard Against Reckless Banking Legislation - “Only a structural change to the way Congress acts on financial regulation will prevent future losses.” Why this is important: An old adage is that...more

SVB Receivership – Considerations for Agents and Lenders

Paul Hastings LLP on 3/13/2023

Background- On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for SVB....more

Bank Report: December 2019

Nutter McClennen & Fish LLP on 12/23/2019

FDIC and OCC Propose CRA Modernization Rule with Opt-Out for Small Banks The FDIC and the OCC have jointly proposed amendments to modernize the agencies’ Community Reinvestment Act (“CRA”) regulations, which are intended...more

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