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Financial Institutions Banking Sector Banks

Orrick, Herrington & Sutcliffe LLP

FDIC announces tool to benefit neighborhoods with minority groups

On November 5, the FDIC announced plans to launch the Minority Banking Opportunity Explorer, an online tool designed to help financial institutions, investors, and other stakeholders identify neighborhoods that could benefit...more

DLA Piper

Bank Regulatory News and Trends

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This regular publication from DLA Piper focuses on helping banking and financial services clients navigate the ever-changing regulatory landscape. In this edition: CFPB issues final rule on personal financial data rights...more

Orrick, Herrington & Sutcliffe LLP

Financial Institutions Face Greater Export Controls Compliance Risk Under New BIS Guidance

Financial institutions face significant new compliance obligations under export control guidance issued by the Commerce Department’s Bureau of Industry and Security (BIS) last month.  ...more

McGlinchey Stafford

Podcast: Deep Dive into Depository Services in Bank Partnerships [More with McGlinchey, Ep. 75]

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The next installment in McGlinchey’s Deep Dive into Bank Partnerships Series features an overview of depository services, featuring insights from our attorneys Rachael Aspery, Brian Fink, and Aaron Kouhoupt. They explore key...more

Brownstein Hyatt Farber Schreck

CFPB and FHFA on List of Agencies to See Course Change Under Trump

As we continue to analyze the strength of former President Trump’s red wave, one thing is clear: a number of federal agencies are poised for a major shift in their rulemaking agendas, priorities, staffing and approach to...more

Orrick, Herrington & Sutcliffe LLP

Banking groups appeal court’s summary judgment of Section 1071 rule

On October 23, a group of banking organizations filed a notice of appeal in the U.S. District Court for the Southern District of Texas seeking to challenge a decision impacting the CFPB’s Section 1071 rule. The plaintiffs now...more

Orrick, Herrington & Sutcliffe LLP

Fed issues enforcement action to two banks after examinations

On October 21, the Fed executed a written agreement between itself, the State of Washington Department of Financial Institutions (WDFI), and a bank holding company and its subsidiary state-chartered bank (respondents). The...more

Sheppard Mullin Richter & Hampton LLP

Fintech Industry Trade Associations Respond to Federal Regulators’ Joint RFI on Bank-Fintech Partnerships

On October 30, two leading fintech industry trade associations submitted comments (see comment letters here and here) in response to a joint Request for Information (RFI) issued by the Office of the Comptroller of the...more

Katten Muchin Rosenman LLP

Financial Products and Services and Bot-to-Bot Communications: What the Future Holds for Customers and Providers

Money 20/20 has come to a close in Las Vegas. What is usually a leading industry conference predominantly focused on consumer and commercial payments markedly "pivoted" this year. Specifically, in what can likely be...more

Orrick, Herrington & Sutcliffe LLP

OCC issues final guidelines on recovery planning for covered banks

On October 21, the OCC issued its final guidelines meant to strengthen recovery planning for large insured banks. The guidelines were a response to significant withdrawals of uninsured deposits in March 2023 that led to the...more

A&O Shearman

Financial Stability Board Report on Lessons from March 2023 Banking Turmoil

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The Financial Stability Board has published a report on depositor behaviour and interest rate and liquidity risks in the financial system. The report draws on lessons from the March 2023 banking turmoil which saw the collapse...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, October 2024

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Key developments of interest over the last month include: the UK FCA publishing a consultation on two-stage reforms to the payments and e-money safeguarding regime; the U.S. Consumer Financial Protection Bureau announcing a...more

Stinson LLP

CFPB Promotes Open Banking as it Issues Final Rule on Personal Financial Data Access Rights

Stinson LLP on

Time will tell whether the Consumer Financial Protection Bureau's (CFPB) stated goals of accelerating "open banking" and competition will come to fruition as a result of the long-awaited final rule implementing Section 1033...more

Orrick, Herrington & Sutcliffe LLP

Banking groups seek to halt CFPB’s 1033 rule

On October 23, one bank and two banking industry groups challenged the CFPB’s 1033 Rule that would mandate banks to share sensitive customer data, such as transaction history, account balances, and account and routing numbers...more

A&O Shearman

HM Treasury Publishes Draft Update to Special Resolution Regime Code of Practice

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HM Treasury has published a draft new chapter for the Special Resolution Regime Code of Practice that reflects reforms introduced by the Bank Resolution (Recapitalisation) Bill....more

Eversheds Sutherland (US) LLP

Payment matters - October 2024

Upcoming global developments for the payment sector - Asia - 1. Hong Kong: Launch of Phase 2 of the e-Hong Kong Dollar Pilot Programme - On September 23, 2024, the Hong Kong Monetary Authority (HKMA) announced the...more

Orrick, Herrington & Sutcliffe LLP

CSBS report reveals regulatory burden as top community bank concern

Recently, CSBC published its 2024 Annual Community Bank Survey which provides insights into the concerns and challenges faced by community banks. The survey revealed that regulatory burden has become the primary concern for...more

Hogan Lovells

Hogan Lovells PSD3 Impacts Report: Getting ahead of the evolving EU payments regulatory landscape

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Given the sea change of payment services directive 2015/2366 (“PSD2”), one might expect the prospect of the proposed PSD3 and PSR to have psps groaning at the thought of yet more root and branch reg change projects. However,...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases October CRA evaluations

On October 3, the FDIC released an updated list of state nonmember banks examined for compliance under the CRA. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 requires public disclosure of...more

Latham & Watkins LLP

FDIC, OCC Finalize Policy on Bank Merger Transactions

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Regulators seek to provide clarity and transparency on the bank merger review process, but changes may increase application complexity and unpredictability. Consistent with ongoing initiatives to strengthen US antitrust...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 48: Digital Infrastructure, Fintech and the Future of Banking

Alex Acree, Chief Legal Officer at Unit, joins RegFi co-hosts Jerry Buckley and Caroline Stapleton to explore the role that a financial services infrastructure company can play in the evolving delivery of financial services...more

Mayer Brown

Interview with Jay Luzar, Former Regional Bank Treasurer

Mayer Brown on

In this episode, Matt Bisanz interviews Jay Luzar, a former treasurer for a regional bank, on the inner workings of the position and the industry at large....more

Troutman Pepper

Navigating Regulatory Waters: Recent Enforcement Actions in BaaS — Payments Pros – The Payments Law Podcast

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In the latest episode of Payments Pros, hosts Carlin McCrory and Keith Barnett are joined by James Stevens to discuss recent enforcement actions in the banking as a service (BaaS) space. They delve into regulatory trends,...more

Orrick, Herrington & Sutcliffe LLP

OCC releases FY 2025 bank supervision operating plan

On October 1, the OCC released its bank supervision operating plan for fiscal year (FY) 2025. The OCC outlined its supervision priorities and objectives which will guide the implementation of supervisory strategies for...more

Vedder Price

FDIC Proposes Rule Amendments to Expand Its Role in Reviewing Depository Institution Holding Company Acquisitions

Vedder Price on

On July 30, 2024, the Federal Deposit Insurance Corporation (FDIC) proposed amendments to regulations under the Change in Bank Control Act of 1978 (the CBCA) that would subject certain acquisitions of holding companies of...more

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