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Financial Institutions › Supervisory Guidance › Federal Reserve

Jones Day

Final Climate Risk Guidance Ensures Supervisory Focus from Banking Agencies in 2024

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The Situation: In October 2023, the Office of the Comptroller of the Currency ("OCC"), Federal Reserve System, and Federal Deposit Insurance Corporation ("FDIC," and the three agencies collectively, "Agencies") finalized...more

Troutman Pepper

FSOC Votes Unanimously to Finalize Process for Designating Nonbanks for Federal Reserve Supervision

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On November 3, the Financial Stability Oversight Council (FSOC) voted unanimously to finalize the procedures for designating a nonbank financial company for Federal Reserve supervision. FSOC’s Interpretive Guidance aims to...more

Ballard Spahr LLP

FDIC Moves to Dismiss Lawsuit Challenging NSF Fee Guidance

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The FDIC has filed motion to dismiss the lawsuit filed in July 2023 in a Minnesota federal district against the FDIC and its Chairman seeking to invalidate the FDIC’s supervisory guidance on charging multiple non-sufficient...more

Ballard Spahr LLP

Federal Reserve Board issues letters on program to supervise novel banking activities

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Earlier this month, the Federal Reserve Board (FRB) released two supervision and regulation letters regarding the agency’s program to supervise “novel” banking activities....more

Cadwalader, Wickersham & Taft LLP

Federal Reserve Says Permission Required for State Banks to Be Involved in Stablecoin Issuance

Cadwalader, Wickersham & Taft LLP on

The Federal Reserve issued a Supervision and Regulation letter earlier this week to all state member banks (“SMBs”) regarding their involvement in activities involving stablecoins, taking an even more reticent position than...more

Cadwalader, Wickersham & Taft LLP

Fed Establishes Novel Activities Supervision Program

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Earlier this week, the Federal Reserve issued a Supervision and Regulation Letter regarding the “Creation of Novel Activities Supervision Program” (SR 23-7). The letter informs all banking organizations subject to supervision...more

Ballard Spahr LLP

Minnesota Bankers Association and Lake Central Bank sue FDIC over NSF fee guidance

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A complaint filed on July 20, 2023 in Minnesota federal court seeks declaratory and injunctive relief under the Administrative Procedures Act (APA) against defendants Federal Deposit Insurance Corporation (FDIC) and Chairman...more

Orrick, Herrington & Sutcliffe LLP

Fed says limits on banking activities will apply regardless of insurance status

Orrick, Herrington & Sutcliffe LLP on

On January 27, the Federal Reserve Board issued a policy statement providing guidelines on how the agency evaluates requests from supervised uninsured and insured banks seeking to engage in novel activities, such as those...more

Foodman CPAs & Advisors

The Federal Reserve Expects The Board Of Directors Of Financial Institutions To Be Effective

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On February 26, 2021, the Federal Reserve issued Supervisory Guidance (SG) for the Board of Directors (BOD) of Domestic Bank and Savings and Loan Holding Companies requiring effective BOD oversight.   ...more

Goodwin

PPP Extended; CFPB Revokes Pandemic-Related Regulatory Relief

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In This Issue. President Biden signed a bill extending the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) through May 31, 2021; the Consumer Financial Protection Bureau (CFPB) announced the rescission...more

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