News & Analysis as of November 19, 2024

FinTech

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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: 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

Takeaways From the FDIC’s Spring 2024 Consumer Compliance Supervisory Highlights

Sheppard Mullin Richter & Hampton LLP on 5/13/2024

On March 28, the FDIC released the spring edition of its consumer compliance supervisory highlights. The FDIC supervises approximately 3,000 state-chartered banks and thrifts that are not members of the Federal Reserve...more

Why the FDIC's Consumer Compliance Supervisory Highlights Should Be on Your Reading List

Husch Blackwell LLP on 4/23/2024

Similar to the Consumer Financial Protection Bureau’s Supervisory Highlights, the Federal Deposit Insurance Corporation (FDIC)’s Consumer Compliance Supervisory Highlights should be on your reading list. While the FDIC has...more

FDIC Issues Orders Against Two More Banks Over Fintech Partnerships

Sheppard Mullin Richter & Hampton LLP on 4/15/2024

In the FDIC’s latest monthly update on enforcement decisions and orders, the agency published recent consent orders it entered against both a New York-based and an Ohio-based bank, the latest in the agency’s series of...more

FDIC Sends Clear Message in Recent Enforcement Action: BaaS/Fintech Partnerships are a High-Risk Compliance Area

Adams and Reese LLP on 12/14/2023

Last month, the Federal Deposit Insurance Corporation (“FDIC”) took action against a bank for alleged unsafe or unsound banking practices. This, in and of itself, is not usual or newsworthy. What is unusual and newsworthy,...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 Finalizes “True Lender” Rule

Goodwin on 10/29/2020

In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more

OCC Releases Final True Lender Rule

Bradley Arant Boult Cummings LLP on 10/29/2020

On October 27, 2020, the OCC released its final True Lender Rule. As discussed earlier on this blog, the OCC’s rule is designed to clarify the “true lender” doctrine, a legal test utilized by courts and regulators to...more

Top 5 Legal Considerations for FinTech Advertising

Manatt, Phelps & Phillips, LLP on 2/10/2016

The growth and expansion of FinTech service providers nationally and internationally over the last five years is reshaping the financial landscape. This evolution includes differentiation in how financial products are...more

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Federal Deposit Insurance Corporation › Truth in Lending Act (TILA) › FinTech

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