News & Analysis as of September 13, 2024

Banks

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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 -

Trade Groups Call on FDIC to Withdraw Brokered Deposit NPRM

Ballard Spahr LLP on 8/26/2024

A group of 11 financial services associations is calling on the FDIC to withdraw its notice of proposed rulemaking intended to strengthen the prudential protections of the agency’s safety and soundness rule for brokered...more

FDIC Proposes Amendments to Its Change in Bank Control Act Regulations

Latham & Watkins LLP on 8/9/2024

The proposal would establish stricter oversight of certain transactions and responds to concerns that large asset managers may be exerting influence on FDIC-supervised institutions. On July 30, 2024, the Board of...more

FDIC and OCC Focus on Resolution and Recovery Capabilities Testing

Patomak Global Partners on 7/23/2024

The Situation: The Federal Deposit Insurance Corporation (FDIC) has issued a final rule which substantively changes the scope and expectations for Insured Depository Institution (IDI) resolution plans (FDIC Final Resolution...more

The Drawbacks Of Banking Regulators' Merger Review Plans

WilmerHale on 5/1/2024

The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency recently announced proposals to update their approaches to evaluating bank mergers and other business combinations under the Bank Merger...more

FDIC final Signage and False Advertising Rule will be effective April 1, 2024, with an extended full compliance date of January 1,...

Ballard Spahr LLP on 3/29/2024

The final rule issued in December 2023 by the Federal Deposit Insurance Corporation (FDIC) amending its regulations at 12 CFR Part 328 (“Final Rule“), which address use of the official FDIC sign and banks’ advertising...more

To Approve a Bank Merger or Not: That Is the Question!

Morrison & Foerster LLP on 2/8/2024

On January 29, 2024, the OCC issued a proposed policy statement[1] describing the general principles it uses to evaluate applications for approval of transactions under the Bank Merger Act (“BMA”), principally bank mergers,...more

FDIC Proposes Special Deposit Insurance Assessment After Systemic Risk Exception

Cadwalader, Wickersham & Taft LLP on 5/12/2023

The Federal Deposit Insurance Corporation (“FDIC”) Board voted (3-2) to propose a special assessment to recoup the expected $15.8 billion cost to the Deposit Insurance Fund “(DIF”) in the wake of invocation of the special...more

Federal Banking Agencies Issue Interagency Proposal to Update Community Reinvestment Act Rules

Cadwalader, Wickersham & Taft LLP on 5/9/2022

On May 5, the Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve Board (“FRB”) and the Office of the Comptroller of the Currency (“OCC”) (together, the “Agencies”) issued a notice of proposed rulemaking to...more

Fintech Legal Report - September 2021

Perkins Coie on 9/20/2021

Federal Banking Agencies Issue Guide for Community Banks on Conducting Due Diligence on Fintech Companies - On August 27, 2021, the federal banking agencies (Federal Reserve, FDIC, and OCC) published “Conducting Due...more

Response from community groups to OCC/FDIC joint CRA proposal

Ballard Spahr LLP on 12/27/2019

While banks, community groups, and regulators all seem to agree that there is a need to reform the Community Reinvestment Act (the “CRA”), which was signed into law by Jimmy Carter back in 1977 and hasn’t received a major...more

Community groups call on regulators to issue uniform CRA

Ballard Spahr LLP on 9/17/2019

On Monday, September 9, 2019, a group of 28 housing, consumer protection and community development organizations issued a letter to the Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and...more

Feds Propose Enhanced Cyber Standards for Nation’s Largest Banks and Their Boards

Patterson Belknap Webb & Tyler LLP on 10/20/2016

Bank regulators are continuing to demand more accountability from corporate leaders when it comes to compliance with cybersecurity safeguards. In an advance notice of proposed rulemaking issued yesterday, federal...more

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