Federal Banking Interagency Final Guidance on Third-Party Relationships - The Consumer Finance Podcast
WHAT: On January 3, 2025, the Federal Acquisition Regulation (FAR) Council published its final rule to amend the FAR to improve consistency between the procurement and nonprocurement rules on suspension and debarment. The...more
While the coming weeks and months will provide more clarity, we already can anticipate some indications of what is in store for bank regulation, supervision, and enforcement in a second Trump Administration. To help navigate...more
The Office of Management and Budget (OMB) has released Memorandum M-24-18, introducing new requirements and guidance for federal agencies on the responsible acquisition of artificial intelligence (AI). This memorandum aims to...more
In 2023, global investments in energy transition projects surged to approximately $1.7 trillion. This unprecedented investment level underscores the transformative shift toward cleaner energy sources and technologies....more
Morrison Foerster’s State and Local Government Task Force is pleased to provide our bimonthly newsletter summarizing some of the most important and interesting developments from state attorneys general across the country and...more
On August 7, the U.S. Department of Treasury hosted a virtual briefing to discuss the steps that the Biden-Harris administration is taking to address perceived unfair and deceptive practices in the consumer solar energy...more
Several federal financial regulators (the “Agencies”) have approved and published an interagency proposal to establish data standards that promote interoperability of financial regulatory data across these agencies (the...more
For the last 40 years, judges were required to defer to administrative agencies’ reasonable interpretations of ambiguous federal statutes under Chevron v. Natural Resources Defense Council. The Supreme Court upended that...more
The United States electric grid is becoming increasingly stressed as the nation navigates the energy transition and demand for electricity rises. On May 1, 2024, recognizing the stress on the grid and the need for additional...more
The principle of open government is foundational to a healthy democracy, and the availability of government records upon request from the public is one of its chief cornerstones. Originally published in Law360 - January 5,...more
Since the 2023 spring bank failures, the federal banking agencies have tinkered with significant bank regulations and guidance—ranging from capital, bail-in measures, and resolution planning to climate-risk stress testing,...more
On October 24, 2023, the Federal Reserve (Fed), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) issued the joint agency climate-related financial risk management guidance for...more
The federal banking agencies recently issued final interagency guidance concerning how large banks may control for climate-related financial risks (“climate risks”). The guidance is largely consistent with the proposal and...more
The FTC and the U.S. Department of Labor (DOL) signed an agreement to increase inter-agency cooperation in combatting anticompetitive behavior and unfair and deceptive acts and practices that harm workers....more
In this episode of The Consumer Finance Podcast, Troutman Pepper Partner Chris Willis and fellow Partner Glen Trudel discuss the Final Interagency Guidance put out by the Federal Reserve, the FDIC, and the OCC regarding...more
The Office of the National Cyber Director (ONCD) has extended the deadline to respond to its Request for Information (RFI) seeking public comment on "opportunities for and obstacles to harmonizing" cybersecurity regulations....more
On August 29, 2023, the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (collectively, FBAs) issued requests for...more
On June 6, 2023, the Board of the Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, Agencies) issued...more
Consistent with concerns surrounding bias in property valuations, on June 8, 2023, the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal...more
On June 6, 2023, the Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. (collectively, the “Agencies”) issued final interagency guidance that...more
The guidance outlines principles and key considerations for banking organizations as they navigate risks associated with third parties, including fintechs. On June 6, 2023, the Federal Deposit Insurance Corporation...more
Last week, the Office of the Comptroller of the Currency (“OCC”), Federal Reserve Board (“FRB”), Federal Deposit Insurance Corporation (“FDIC”), the National Credit Union Administration (“NCUA”), and the Consumer Financial...more
The Federal Reserve, FDIC, and OCC have released final interagency guidance for their respective supervised banking organizations on managing risks associated with third-party relationships, including relationships with...more
On June 8, 2023, Gov. Kathy Hochul (D) announced a crackdown on sales by unlicensed cannabis sellers, which could face fines of up to $20,000 a day under recent legislation allowing for enhanced enforcement. The legislation...more
On December 22, just before many of us may have started turning to our holiday breaks, the Federal Reserve Board (“FRB”), Federal Deposit Insurance Corporation (“FDIC”) and Office of the Comptroller of the Currency (“OCC”)...more