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Federal Deposit Insurance Corporation › Loans › Depository Institutions

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 -
McGlinchey Stafford

Minnesota, Nevada, and Rhode Island Propose DIDMCA Opt-Outs

McGlinchey Stafford on

Minnesota, Nevada, and Rhode Island are the most recent additions to the list of jurisdictions that have proposed legislation to opt out of the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). Sections...more

Lewis Roca

Legal Issues, Problems, and Unanswered Questions Regarding a State’s Ability and Potential Departure from the Depository...

Lewis Roca on

In 1980, Congress passed Public Law 96-221, called the Depository Institutions Deregulation and Monetary Control Act (“DIDMCA”), which, in part, allowed federally insured state banks, state credit unions, and state savings...more

Goodwin

FAQs About US Bank Failure

Goodwin on

Deposit Insurance - Are the deposits at my bank FDIC-insured? Deposits held at FDIC-insured depository institutions are insured up to $250,000 per depositor for deposits held in the same “right and capacity.”...more

Cadwalader, Wickersham & Taft LLP

FFForEver August 2023 - Lender Intel: A First Glance at Q2 Call Reports

Cadwalader, Wickersham & Taft LLP on

The FDIC set up the SVB bridge bank on March 26, which meant that Q1 bank earnings reports and industry data largely reflected a business environment that had ceased to exist by the time the numbers hit the tape. With the Q2...more

Farrell Fritz, P.C.

Bumpy Ride Ahead for Startups After Silicon Valley Bank Crash

Farrell Fritz, P.C. on

The collapse of Silicon Valley Bank will have enormous repercussions for startups and VCs in ways seen and unseen.  As for the unseen, SVB had deep relationships among the various players in the venture ecosystem.  Founders...more

Constangy, Brooks, Smith & Prophete, LLP

Beware of MA penalties if you miss payroll – even if it’s due to a bank failure

Constangy, Brooks, Smith & Prophete, LLP on

On Friday, March 10, the Federal Deposit Insurance Corporation announced that it had closed the Silicon Valley Bank and taken control of its deposits. In its announcement, the FDIC said that insured depositors would have...more

Coblentz Patch Duffy & Bass

UPDATE: Impact of Recent Bank Failures on Borrowers, Landlords, and Other Stakeholders

Coblentz Patch Duffy & Bass on

Additional developments relating to the Silicon Valley Bank and Signature Bank failures have occurred, and the situation continues to evolve. Upon the closure of Silicon Valley Bank the FDIC initially created the Deposit...more

McCarter & English, LLP

Silicon Valley Bank: What Happens Next?

McCarter & English, LLP on

US regulators seized Silicon Valley Bank (SVB) on March 10, marking the second largest US bank failure in history and largest since the 2008 global financial crisis. In response, investors began selling off stocks of other...more

Brownstein Hyatt Farber Schreck

Bank Failures Spark Liquidity Injection from FHLBanks

Brownstein Hyatt Farber Schreck on

On Monday, March 13, the Federal Home Loan Bank (FHLBank) system issued a single-day record of $88.7 billion in short-term, floating-rate notes with maturities ranging from three months to one year. The system originally...more

Foley Hoag LLP

FDIC Creates Silicon Valley Bridge Bank, N.A. and Issues Updated FAQS

Foley Hoag LLP on

The FDIC has also posted updated FAQs on its website confirming that direct deposits and autopay will continue to operate and that checks will continue to clear. Customers with lines of credit are instructed to contact...more

Goodwin

FAQ About Recent Bank Failures in the US

Goodwin on

What actions did the US government take on Sunday with respect to Silicon Valley Bank (SVB) and Signature Bank? On Sunday, March 12, the FDIC, the Federal Reserve, and the US Treasury Department announced that the US...more

Fenwick & West LLP

Silicon Valley Bank Closure: Updated Considerations Following the Creation of Silicon Valley Bridge Bank, N.A.

Fenwick & West LLP on

Considerations relating to Silicon Valley Bank (SVB)’s closure have continued to evolve as a result of the recent announcement by the Federal Deposit Insurance Corporation (FDIC) that it has transferred all deposits—both...more

Goulston & Storrs PC

Information for Borrowers with Loans from Silicon Valley Bank or Signature Bank

Goulston & Storrs PC on

This alert provides information for borrowers with loans from Silicon Valley Bank (“SVB”) or Signature Bank (“Signature”) based on information available from the FDIC and our clients’ experiences over the last few days. We...more

Foley Hoag LLP

Department of the Treasury, Federal Reserve, and FDIC Issue Joint Statement

Foley Hoag LLP on

On Sunday, March 12, 2023, the Treasury Department, the Federal Reserve, and the FDIC issued a joint statement indicating that there has been an agreement to roll out emergency measures to protect depositors at SVB. The...more

Fenwick & West LLP

Silicon Valley Bank Closure: Important Updates for Corporate Banking Customers

Fenwick & West LLP on

Last Updated: Sunday, March 12, 2023, 5 p.m. PDT On Friday, March 10, 2023, Silicon Valley Bank (SVB) was closed by the California Department of Financial Protection & Innovation, The Federal Deposit Insurance Corporation...more

Seward & Kissel LLP

Silvergate

Seward & Kissel LLP on

The FDIC generally shuts down failing institutions on Friday after the close of business to minimize disruptions to depositors....more

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

Kramer Levin Naftalis & Frankel LLP

Understanding the Newly Proposed Credit Fund Exclusion Under the Volcker Rule

Kramer Levin Naftalis & Frankel LLP on

Section 13 of the Bank Holding Company Act of 1956 (the BHC Act) generally prohibits any insured depository institution (as defined in Section 3(c) of the Federal Deposit Insurance Act, but excluding institutions that...more

Ballard Spahr LLP

CFPB and banking agencies begin review of bank sales practices

Ballard Spahr LLP on

According to Politico, the CFPB, OCC, Fed and FDIC have launched a review of bank sales practices, with the reviews to be conducted as special reviews rather than as part of the regular examination process....more

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