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Federal Deposit Insurance Corporation › Final Rules › Banking Sector

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... more +
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 -
Nutter McClennen & Fish LLP

Nutter Bank Report: June 2024

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The CFPB, as part of its initiative to accelerate the shift to open banking in the United States, issued a final rule on June 5 that outlines the qualifications to become a recognized industry standard setting body, which can...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - March 2024 - 2

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Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Sheppard Mullin Richter & Hampton LLP

South Dakota Lenders on Tight Deadline for BSA/AML Compliance

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On January 12, South Dakota’s Division of Banking issued a mandate setting March 31, 2024 as the deadline for all South Dakota licensed money lenders and non-residential mortgage brokers to comply with their Bank Secrecy...more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2023

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A recent OCC report identified key issues facing the federal banking system, including increasing credit risk due to higher interest rates, increasing risk in commercial real estate lending, prolonged inflation, declining...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Community Reinvestment Act Reform: A Close Look at the Final Rule

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On October 24, 2023, the OCC, FDIC and Board of Governors of the Federal Reserve System jointly adopted final amendments to their regulations implementing the Community Reinvestment Act of 1977 (CRA). In this episode, which...more

Venable LLP

Harder, Better, Faster, Stronger: The New Interagency Rule for the Community Reinvestment Act

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After more than five years—with competing developments at times—the federal banking agencies (Federal Reserve, OCC, and FDIC) have revamped the regulations that implement the Community Reinvestment Act (CRA). The final...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - October 2023

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The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Morgan Lewis

How Financial Services Companies Can Prepare for and Comply with New Federal Cybersecurity Requirements

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US regulators have increased their focus on cybersecurity issues impacting financial services companies, with a host of guidance documents recently released by the US Securities and Exchange Commission (SEC), the three...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Congress Eases Criminal Offense Restrictions for Employment With Financial Institutions

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Included in the defense spending bill signed by President Biden in December 2022 is a section with key provisions for financial institutions that will ease restrictions on hiring candidates with criminal records....more

Ballard Spahr LLP

Key differences between the OCC’s rescinded 2020 CRA final rule and the 2022 CRA revisions proposed by U.S. banking regulators

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As we previously reported, the Office of the Comptroller of the Currency (“OCC”) rescinded its 2020 Community Reinvestment Act (“CRA”) final rule (the “2020 CRA Final Rule” or the “Rescinded Rule”) in December 2021 and has...more

Seward & Kissel LLP

FDIC Adopts Rule Prohibiting Misleading Statements About FDIC Insurance that Impacts a Broad Range of Deposit Placement...

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Introduction - On May 17, 2022, the Board of Directors of the Federal Deposit Insurance Corporation (“FDIC”) adopted a final rule (“Rule”) setting forth its procedures for investigating and enforcing false advertising,...more

Goodwin

FDIC Issues Final Rule on False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo

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On May 17, 2022, the Federal Deposit Insurance Corporation (FDIC) announced its adoption of a final rule implementing Section 18(a)(4) of the Federal Deposit Insurance Act, which prohibits  any person from misusing the FDIC’s...more

Sheppard Mullin Richter & Hampton LLP

May 1st is Around the Corner: Bank Computer-Security Incident Notification Requirements

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A few months ago, we published a post about the OCC, FDIC, and Federal Reserve Board’s final rule to improve information sharing about cyber incidents that may affect the U.S. banking system. Under the final rule, banks and...more

Goodwin

CFPB Launches New Initiative Focused on Rural Communities

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In This Issue. The Consumer Financial Protection Bureau (CFPB) announced a new initiative focused on financial issues faced by rural communities and also updated its examination procedures to cover unfair discrimination; the...more

Akin Gump Strauss Hauer & Feld LLP

US Banks Must Now Report Hacks Within 36 Hours

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The banking regulators of the Federal Reserve Board, Federal Deposit Insurance Corporation, and the Office of the Comptroller of Currency jointly announced a new rule requiring banking organizations in the United States to...more

Eversheds Sutherland (US) LLP

Focus on Fintech: Federal Banking Regulators Adopt Final Rule for Reporting of Certain Computer-Security Incidents

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On November 23, 2021, the OCC, Federal Reserve Board, and FDIC issued a joint final rule that requires banking organizations and their service providers to report certain computer-security incidents. A computer-security...more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2021

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FDIC Board Governance Dispute on Review of Bank Mergers Aired Publicly - CFPB Director Rohit Chopra on December 9 published on the CFPB’s website a blog post captioned “How Should Regulators Review Bank Mergers?” in...more

Ballard Spahr LLP

OCC issues final rule rescinding June 2020 CRA rule and restoring 1995 framework

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On December 4, 2022, the OCC issued a final rule that rescinds its June 2020 Consumer Reinvestment Act (CRA) final rule and replaces it with a rule that is largely based on the OCC’s 1995 CRA rule that was adopted jointly...more

Dorsey & Whitney LLP

The Prudential Bank Regulators Adopt Federal Data Interruption Notice Requirements for FDIC-Insured Institutions and Service...

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On November 23, 2021, the Office of the Comptroller of the Currency (the “OCC”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Federal Reserve Board (the “Prudential Regulators”) exercised their collective...more

Goodwin

FinCEN Issues Proposed Rule for Beneficial Ownership Information Reporting Requirements

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In This Issue. The Financial Crimes Enforcement Network (FinCEN) announced (1) a notice of proposed rulemaking for beneficial ownership information reporting requirements and (2) a regulatory process for new real estate...more

Steptoe & Johnson PLLC

Computer-Security Incident Rule Creates New Notification Requirements for Banking Organizations and Bank Service Providers

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On November 18, 2021, the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) issued a joint final rule (the...more

Troutman Pepper

Think Fast: Banking Regulators Release Final Computer-Security Incident Notification Requirements

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Introduction - On November 18, federal banking agencies issued the long-awaited final rule, establishing data security incident response notification requirements for “banking organizations” and “bank service providers”...more

Pillsbury Winthrop Shaw Pittman LLP

Federal Regulators Adopt New Computer-Security Incident Notification Requirements for Banks and Service Providers

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In response to increasingly frequent and sophisticated cybersecurity attacks on banks and bank service providers, the federal prudential banking regulators—the Office of the Comptroller of the Currency (OCC), the Board of...more

Goodwin

CFPB Withdraws Proposal to Delay Debt Collection Final Rules

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In This Issue. The Consumer Financial Protection Bureau (CFPB) withdrew its proposal to delay the Debt Collection Final Rules; the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance...more

Goodwin

Tenth Circuit Upholds District Court’s Ruling Finding No Breach of Fiduciary Duties in Section 36(b) Case

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In This Issue. The federal bank regulators published frequently asked questions concerning the London Interbank Offered Rate transition; the Consumer Financial Protection Bureau (CFPB) confirmed an effective date for two...more

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