What’s behind the increase in CRA Exam failures?
Evaluating Government Sanctions in the Payments Industry - Payments Pros: The Payments Law Podcast
5 Key Takeaways | Risks Facing Banks Today
Regulators Tackle Board Effectiveness and Overdrafts
Key Points - - A Republican president and Congress are expected to be more supportive of digital assets than the current administration. - There is a reasonable chance that legislation creating a regulatory framework...more
October 31, 2024- Members of the U.S. House Committee on Financial Services sent a letter to federal banking regulators at the Federal Reserve Board (FRB), Office of the Comptroller of the Currency (OCC), and Federal...more
On July 30, 2024, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking (NPR) that would expand the FDIC’s role under the Change in Bank Control Act of 1978 (CBCA). The NPR seeks, in part, to...more
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
On July 25, 2024, the federal banking agencies issued a joint statement flagging potential risks in bank-fintech arrangements, along with a request for public information (RFI) on the benefits, risks, and risk management...more
Out of recent banking agency focus on fintech-bank partnership arrangements, we’ve had a number of fintech clients inquire about the questions they should ask potential bank partners in due diligence. This Fintech Flash...more
Most legal entities like corporations have officers and directors who, together, run the business. Directors sit on the board of directors and collectively govern and oversee the entity. In contrast, officers generally...more
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
On a broadcast hosted by Dean Stockford, Len Suzio highlights the increase in adverse Community Reinvestment Act (CRA) ratings for banks in the first half of 2023. An article from Standard & Poor indicated that 12 banks...more
As part of the continuing financial regulatory reform efforts following the 2023 bank failures, the FDIC, the OCC, and the Federal Reserve issued a proposed rule that would generally require large banks and thrifts with total...more
In this episode of Payments Pros, Keith Barnett welcomes his colleagues Rich Zack and Christy Tuttle to discuss how U.S. government sanction programs impact payment processors, banks, and the payments industry in general. ...more
Since early 2023, there has been consistent reporting of possible turbulence and increased default risk relating to commercial real estate loans. These concerns are driven by historic levels of maturing debt, which is in many...more
Kilpatrick Townsend’s Gary Bronstein recently joined a panel of other industry leaders at “The Bank Director: Bank Audit and Risk Conference." The panel discussed the countless risks facing banks today and what banks can do...more
Silvergate Bank, the La Jolla based bank that made a name for itself by specializing in providing banking services to the crypto industry, has recently come under scrutiny for using a (quasi) federal lending program, designed...more
As the federal government continues its whole-of-government response to cyber incidents, federal banking regulators took action to impose a new notice requirement on federally regulated banks. In November, the Federal Deposit...more
Last month, the FDIC, Federal Reserve Board, and the OCC announced a final rule to improve information sharing about cyber incidents that may affect the U.S. banking system. Among other things, the final rule requires...more
Our Financial Services & Products Group investigates the federal banking regulators’ roadmap for crypto-asset regulation in 2022 and a new OCC procedure national banks must comply with to conduct crypto-asset activities....more
On November 18, 2021, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation jointly announced the approval of a final rule to...more
Recent guidance from financial industry regulators reminds market participants to remain mindful of their business, compliance, and operational obligations when incorporating technology vendors as a fundamental part of their...more
As the countdown to the LIBOR sunset enters its final six months, the CFTC staff is trying to help the market transition. With less than six months to go before the London Interbank Offered Rate (LIBOR) expires on December...more
The Agriculture Improvement Act of 2018 ("Farm Bill") became law more than two years ago, decriminalizing hemp and its derivatives and opening the door for American farmers, manufacturers and retailers to create and explore...more
On March 9, federal bank regulatory agencies announced an interim final rule that supports the Treasury Department’s implementation of a program established by Congress to make capital investments in minority depository...more
Federal Regulation Actions Frozen Pending Review from New Administration - On January 20, 2021, newly inaugurated President Joe Biden issued a memorandum to the Heads of Executive Departments and Agencies asking current...more
In this Issue. The Federal Deposit Insurance Corporation (FDIC) was busy this week, finalizing rules that modernize brokered deposits regulations, establish new standards for parent companies of industrial loan companies and...more
ICE Benchmark Administration, the British-based LIBOR administrator, announced that it intends to cease the publication of the one-week and two month U.S. Dollar LIBOR settings immediately after December 31, 2021, and the...more