News & Analysis as of November 19, 2024

Financial Institutions

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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 -

Nutter Bank Report: October 2024

Nutter McClennen & Fish LLP on 10/31/2024

The CFPB has approved a final rule that requires banks and certain other financial services providers to share a consumer’s personal financial data with another provider at the consumer’s request. The CFPB’s Personal...more

FDIC, OCC and Justice Department update bank merger guidelines

Ballard Spahr LLP on 9/26/2024

The FDIC, the OCC and the Justice Department earlier this month issued updated standards for bank mergers. The three agencies acted separately, although officials noted that they had worked with the other agencies involved....more

FDIC and OCC Finalize New Guidelines on Bank Mergers

Troutman Pepper on 9/19/2024

Yesterday, both the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) finalized new guidelines regarding bank mergers. According to the agencies, these updates aim to enhance...more

Nutter Bank Report: July 2024

Nutter McClennen & Fish LLP on 7/31/2024

The federal banking agencies have published joint guidance for banks about risks posed by fintech companies and other third parties to deliver bank deposit products and services. The joint guidance issued on July 30...more

Crystal Clear: New Guide on Third-Party Risk Management for Community Banks - and Others

Venable LLP on 5/14/2024

It is no secret that the Federal Reserve, the FDIC, and the OCC have zeroed in on banks' use of third parties for products, services, and other operations, the risks those arrangements may pose, and banks' responsibility to...more

Banking and Consumer Regulatory Digest - February 2024

Davis Wright Tremaine LLP on 2/19/2024

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

ABA issues white paper on agency guidance and sends letters to regulators commenting on recently-issued guidance

Ballard Spahr LLP on 2/15/2024

The American Bankers Association (ABA) has issued a new white paper, “Effective Agency Guidance: Examining Bank Regulators’ Guidance Practices,” that is intended to help agencies issue guidance that complies with legal...more

Nutter Bank Report: November 2023

Nutter McClennen & Fish LLP on 11/30/2023

Headlines 1. Recent Bank Failures The FDIC has issued a final rule that will impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from the systemic risk determination announced on March...more

OCC Issues Policy Guidance on Venture Loans

Latham & Watkins LLP on 11/29/2023

The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in venture lending. On November 1, 2023, the Office of the Comptroller of the Currency...more

OCC, FRB, and FDIC Finalize Joint Principles for Climate-Related Financial Risk Management

Latham & Watkins LLP on 11/8/2023

Guidance for the largest US financial institutions is intended to promote climate risk management consistent with general safety and soundness practices. On October 30, 2023, the three US federal bank regulatory agencies...more

Agency Guidelines Confirm That Climate-Related Financial Risk Is Real

Holland & Knight LLP on 11/6/2023

The U.S. Department of the Treasury's Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board) and the Federal Deposit Insurance Corp. (FDIC) (collectively, the Agencies) on...more

New Legal Challenge Emerges to FDIC’s Supervisory Guidance on Re-presentment and Non-Sufficient Funds Fees

Moore & Van Allen PLLC on 7/28/2023

When following supervisory scrutiny of fees charged to bank customers, the Consumer Financial Protection Bureau’s (CFPB) activities are often the focus. The Minnesota Bankers Association and Lake Central Bank of Minnesota,...more

New Interagency Policy Statement on CRE Loan Accommodations and Workouts

Stinson LLP on 7/26/2023

On June 29, 2023, a new interagency Policy Statement (the Statement) was issued relating to commercial real estate (CRE) loan accommodations and workouts. The Statement is relevant to all financial institutions governed by...more

FDIC Issues Guidance on Reporting Estimated Uninsured Deposits

Troutman Pepper on 7/25/2023

Yesterday, the Federal Deposit Insurance Corporation (FDIC) issued a letter to financial institutions (FIL-37-2023) regarding the proper way to report estimated uninsured deposits in accordance with the instructions to the...more

Federal Bank Regulatory Agencies Issue Final Joint Guidance for Managing Third-Party Relationship Risks

Hudson Cook, LLP on 7/5/2023

On June 6, 2023, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency issued final joint guidance addressing bank management of...more

Bank Regulators Issue Guidance for Third-Party Risk Management

Goodwin on 7/3/2023

On June 6, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, Agencies)...more

Client Alert: Bank-Fintech Partnerships Update: Banking Agencies Finalize Key Risk Management Guidance

Jenner & Block on 6/16/2023

On June 6, 2023, federal banking agencies issued final Interagency Guidelines on Third-Party Relationships detailing their expectations for banks in establishing risk management practices with third-parties—including...more

FDIC, FRB & OCC Issue Final Guidance on Risk Management for Third-Party Relationships

Sheppard Mullin Richter & Hampton LLP on 6/12/2023

On June 6, the FDIC, FRB & OCC issued final interagency guidance intended to assist their respective supervised banking organizations in identifying and managing risks associated with third-party relationships and in...more

FDIC Issues Q1 Quarterly Banking Profile

Cadwalader, Wickersham & Taft LLP on 6/2/2023

The Federal Deposit Insurance Corporation (“FDIC”) recently issued the latest Quarterly Banking Profile (“QBP”) for the first quarter of 2023. The headline results of the QBP were...more

Nutter Bank Report: April 2023

Nutter McClennen & Fish LLP on 4/28/2023

FDIC and OCC Issue Guidance on Authorize Positive, Settle Negative Overdraft Fee Risks. The FDIC and the OCC each have issued supervisory guidance on consumer compliance risk exposure related to the assessment of overdraft...more

Nutter Bank Report: January 2023

Nutter McClennen & Fish LLP on 1/31/2023

Federal Reserve Policy Aims to Level the Playing Field for Insured and Uninsured Banks: The Federal Reserve has issued a policy statement clarifying that uninsured state member banks will be subject to the same limitations...more

FinCEN Issues NPRM Regarding Access to Beneficial Ownership Information and Related Safeguards

Goodwin on 1/18/2023

Regulatory Developments - FinCEN Issues NPRM Regarding Access to Beneficial Ownership Information and Related Safeguards - On December 15, FinCEN issued a Notice of Proposed Rulemaking (NPRM) that would implement...more

New Guidance from the FDIC on Brokered Deposits Affects Insured Depository Institutions

Cadwalader, Wickersham & Taft LLP on 7/27/2022

On July 15, the Federal Deposit Insurance Corporation (“FDIC”) issued an updated Q&A regarding how companies involved in managing deposits can determine whether such deposits should be considered brokered, and/or whether they...more

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

Seward & Kissel LLP on 6/16/2022

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

FDIC Updates Guidelines for Appeals of Material Supervisory Determinations

Cadwalader, Wickersham & Taft LLP on 5/20/2022

On May 17, the Federal Deposit Insurance Corporation (“FDIC”) issued Financial Institutions Letter 22-2022 updating the FDIC’s Guidelines for Appeals of Material Supervisory Determinations. The revised Guidelines restore the...more

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