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Federal Deposit Insurance Corporation › NYDFS

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 -
Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - March 2024

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

The Volkov Law Group

NYDFS Sues Citigroup Over Lax Antifraud Defenses, Seeking Major Expansion in Antifraud Liability for Banking Institutions

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The New York Department of Financial Services (“NYDFS”) has brought action in Federal court against Citibank, N.A., alleging that the bank systemically failed to protect accountholders from rampant online scam activity,...more

Jenner & Block

Client Alert: How Regulatory Events of 2023 Should Guide Financial Institutions' New Year's Resolutions for 2024

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As consumer-facing financial institutions of all types—from well-established banks to newly-launched fintechs—set their 2024 regulatory compliance goals, they may wonder if their New Year’s resolutions align with those that...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, December 22 2023

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December 21, 2023- The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) took another major step in support of U.S. Government efforts to crack down on illicit finance and enhance corporate...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, December 8, 2023

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December 7, 2023- U.S. Senate Committee on Banking, Housing, and Urban Affairs Ranking Member Tim Scott (R-S.C.) and Banking Committee Republicans are calling on Federal Deposit Insurance Corporation Chairman Martin...more

Husch Blackwell LLP

Federal Trade Commission Amends GLBA’s Safeguards Rule

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Key Point: The Federal Trade Commission (FTC) has amended the Safeguards Rule to require non-banking financial institutions to inform the FTC within 30 days of discovering any unauthorized acquisition of unencrypted customer...more

Jenner & Block

Client Alert: New multi-front Enforcement Action Emphasizes Key AML Compliance Requirements

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Shinhan Bank America (“Shinhan”), a New York-based subsidiary of a Korean bank, faced coordinated enforcement actions on September 29 from the Financial Crimes Enforcement Network (“FinCEN”), Federal Deposit Insurance...more

Cadwalader, Wickersham & Taft LLP

Financial Kaleidoscope October 2023 - Win the Bid – What’s Next in Moving On?

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On March 12, 2023, the New York State Department of Financial Services appointed the FDIC as receiver for Signature Bank. The FDIC created a bridge bank, Signature Bridge Bank (“Bridge Bank”), and transferred all deposits and...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday, September 19, 2023

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September 18, 2023- New York State Department of Financial Services (DFS) issued an update on an ongoing initiative to strengthen DFS oversight of virtual currencies. September 18, 2023- The Federal Reserve Bank of New...more

Hogan Lovells

Post-SVB events and implications: News and subsequent analysis 2023 banking crisis update

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Federal and state financial regulators have released after-action reports regarding the recent closures of Silicon Valley Bank (SVB) and Signature Bank. Especially when viewed in the light of First Republic Bank’s failure...more

Morrison & Foerster LLP

Banking Disruption: Banking Regulators Signal Updates to Supervisory and Regulatory Agendas in Wake of Bank Failures

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On April 28, 2023, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the United States Government Accountability Office (GAO), and the New York Department of...more

Orrick, Herrington & Sutcliffe LLP

House subcommittee examines framework for regulating stablecoins

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The House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion recently held a hearing to examine stablecoins’ role in the payment system and to discuss proposed legislation for creating a...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2023

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To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

McGlinchey Stafford

SVB and Signature Bank Crashes: Regulations to Come?

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The recent collapse of two large regional banks, and the expedited sale of Credit Suisse due to similar challenges, have left many in the financial services industry uncertain about the future. What should we understand about...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - March 2023 # 3

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To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Troutman Pepper

Silvergate Capital to Liquidate, Regulators Close Signature Bank: What That Means for Other Banks With Crypto Assets

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On March 8, Silvergate Capital, a leader in crypto lending, announced it was winding down its operations. FTX was one of Silvergate Capital’s biggest clients. The California-based bank is chartered under the supervision of...more

Paul Hastings LLP

Daily Financial Regulation Update -- Monday, March 13, 2023

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March 12, 2023- Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg released a joint statement on actions taken to protect the U.S. economy by...more

Venable LLP

Four Cybersecurity Law Issues for Financial Services to Track in 2023 | Insights

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The financial services sector must already contend with a maze of regulations in a variety of areas, and 2023 is poised to usher in new cybersecurity regulations for the industry. Organizations should ensure their security...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - February 2023 #2

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To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

WilmerHale

Prudential Regulators Issue New Guidance on Crypto-Assets

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On January 3, the Board of Governors of the Federal Reserve (FRB), Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued a Joint Statement on Crypto-Asset Risks to Banking...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - December 2022 # 3

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To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Pillsbury Winthrop Shaw Pittman LLP

New York Department of Financial Services Rule Will Require Banks to Collect Demographic Data with Commercial Credit Applications

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Lenders will soon be required to collect detailed demographic and financial data on commercial credit applicants and report this data to regulators. The NYDFS issued a proposed rule that will require New York banks to...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday, July 14, 2022

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July 13, 2022- Michael Barr, President Biden's nominee for Governor and Vice Chair for Supervision at the Board of Governors of the Federal Reserve System, was confirmed by the U.S. Senate....more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday, July 13, 2022

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July 12, 2022- The U.S. Department of the Treasury released a notice seeking public comment regarding potential opportunities and risks presented by developments and adoption of digital assets as part of its work under...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - June 2022 # 4

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Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more

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