News & Analysis as of September 26, 2024

Banking Regulators

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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 -

Banking Regulators’ Request for Information on Bank-Fintech Arrangements

Cadwalader, Wickersham & Taft LLP on 8/12/2024

On July 25, 2024, the Fed, the OCC and the FDIC (the “Banking Regulators”) released a “Request for Information on Bank-Fintech Arrangements Involving Banking Products and Services Distributed to Consumers and Businesses” (the...more

Bank Regulators Issue Statement on Third-Party Relationships with Financial Institutions and Publish Request for Information on...

Ballard Spahr LLP on 8/1/2024

The federal banking regulators (The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation) issued on July 25 a lengthy joint statement...more

Banking Regulators Seek Comment on Third-Party Relationships with Financial Institutions

Ballard Spahr LLP on 7/31/2024

The federal banking regulators are seeking comment to better understand the relationship between financial institutions and third parties that work for them....more

10 Considerations for Fintechs Partnering with Community Banks

Goodwin on 7/17/2024

As banking and technology become more integrated, banks are increasingly partnering with fintechs to expand their customer offerings. The rapid rise of these partnerships has generated questions for both banks and fintechs on...more

The U.S. Basel III Endgame Proposal: Update and Thoughts

Cadwalader, Wickersham & Taft LLP on 6/28/2024

On September 18, 2023, the U.S. Basel III Endgame proposal was published in the Federal Register. The comment period ended on January 16, 2024, with the banking regulators (the Federal Reserve, the OCC, and the FDIC) having...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

Promissory Notes - Banking & Finance Insights: V 4, Issue 1, January 2024

Spilman Thomas & Battle, PLLC on 1/29/2024

OCC Issues Guidance on ‘Buy Now, Pay Later’ Lending - “The guidance notes that banks should maintain underwriting, repayment terms, pricing, and safeguards that minimize adverse customer outcomes and should ensure that...more

Federal Banking Regulators Issue Final Rule Overhauling Community Reinvestment Act Regulations

Pillsbury Winthrop Shaw Pittman LLP on 10/30/2023

The expansive final rule overhauls how banks are evaluated for lending to low- and moderate-income customers. The federal banking regulators issued a joint final rule that will govern Community Reinvestment Act (CRA)...more

Financial Regulatory Reform Tracker - Anti-Tailoring Efforts

Venable LLP on 8/29/2023

Following the 2023 bank failures, the federal banking regulators (the Federal Reserve, the OCC, and the FDIC) have signaled that they are seeking to develop more stringent bank regulatory requirements for larger banking...more

Federal Banking Agencies Propose Basel III Endgame Capital Rules

Goodwin on 8/4/2023

On July 27, 2023, the Federal Reserve, FDIC, and OCC issued a notice of proposed rulemaking and request for comment on a proposal (the Proposal) to implement the final components of the Basel III Capital Accords, often...more

Capital Idea? Risk-Based Capital, Capital Relief Trades and the Proposed Basel III Endgame Capital Rules

Cadwalader, Wickersham & Taft LLP on 8/3/2023

On July 27, 2023, the U.S. federal prudential bank regulators (the Federal Deposit Insurance Corporation, the Federal Reserve Board (“FRB”) and the Office of the Comptroller of the Currency) proposed new capital requirements...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

Bank-Fintech Partnerships and Fair Lending: Top Areas at Risk for Government Scrutiny

Pillsbury Winthrop Shaw Pittman LLP on 6/21/2023

The Federal Deposit Insurance Corporation (FDIC) recently published a consent order issued against Cross River Bank that alleged the bank’s fair lending program’s noncompliance and weaknesses in its oversight of fintech...more

Recent Actions by the Fed Show Its Continued Cautious Approach to Cryptoasset Activities by Supervised Institutions

Skadden, Arps, Slate, Meagher & Flom LLP on 2/7/2023

In the past year, the Board of Governors of the Federal Reserve System (the Board) Biden administration officials, and other U.S. banking regulators have repeatedly voiced growing concerns about certain cryptoasset...more

Banking Regulators Issue Joint Statement on Crypto Risks

Latham & Watkins LLP on 1/12/2023

Banking organizations should ensure appropriate risk management, but regulators are skeptical of certain crypto activities as principal. On January 3, 2023, the Board of Governors of the Federal Reserve System (Federal...more

Risks Associated with Cryptocurrency Activities Continue to be Top-of-Mind for Federal Banking Regulators

Moore & Van Allen PLLC on 8/29/2022

For those tracking developments impacting the crypto-asset space, the summer has been far from slow and leisurely. Multiple industry alerts flow daily with news of new legislative proposals, enforcement actions, and other...more

In Depth: A Look at Federal Banking Agencies’ Proposal to Update Community Reinvestment Act Rules

Cadwalader, Wickersham & Taft LLP on 5/17/2022

As we mentioned briefly in our newsletter last week, the Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve Board (“FRB”) and the Office of the Comptroller of the Currency (“OCC”) (together, “The Agencies”)...more

Federal Banking Regulators Propose Overhaul of Community Reinvestment Act

Pillsbury Winthrop Shaw Pittman LLP on 5/9/2022

Regulators took a first step toward modernizing CRA regulations with a joint Notice of Proposed Rulemaking. The proposed rule would add more standardized metrics for regulators’ CRA examinations and more clearly delineate...more

Federal Banking Regulators Issue New Guidance for Complying with 36 Hour Cybersecurity Incident Reporting Requirement

Polsinelli on 4/1/2022

On March 29, 2022, federal banking regulators issued important guidance for how banking organizations can comply with the upcoming requirement to notify regulators within 36 hours of ransomware or other disruptive...more

OCC: Third-party Risk is a Key Issue for US Banks in 2022

Mitratech Holdings, Inc on 1/25/2022

Banking regulators across the world often engage proactively with their chartered banks to provide guidance about their priorities. They want feedback, comment, and input about issues that may need addressing. This helps...more

US Regulators Raise Expectations of Third-Party Risk Management

Mitratech Holdings, Inc on 12/14/2021

It takes something significant for all the US Banking Regulators – the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) – to come together to pool...more

The BR Privacy & Security Download: December 2021

Blank Rome LLP on 12/3/2021

Welcome to this month's issue of The BR Privacy & Security Download, the digital newsletter of Blank Rome’s Privacy, Security & Data Protection practice. The rapid pace at which technology and data privacy and security...more

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

Troutman Pepper on 12/2/2021

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

Federal banking agencies Issue “Crypto Asset Roadmap” for 2022 guidance; OCC confirms prior interpretive letters on crypto (but...

Ballard Spahr LLP on 11/30/2021

The Federal Reserve Board, FDIC, and OCC (collectively, the “Agencies”) issued on November 23 a short Joint Statement on Crypto-Asset Policy Sprint Initiative and Next Steps (“Joint Statement”), which announced – without...more

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