News & Analysis as of October 19, 2024

Banking Sector

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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +

Fed Issues Cease and Desist Order for Crypto-Related Compliance and Risk Management Deficiencies

Sheppard Mullin Richter & Hampton LLP on 9/9/2024

On September 4, the Federal Reserve Board (Fed) released enforcement actions against a Texas-based bank, addressing regulatory violations and compliance lapses. The Fed, joined by the Texas Department of Banking (TDB),...more

New York Department of Financial Services Proposes New Cybersecurity Rules

King & Spalding on 8/25/2022

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Part 500 Cybersecurity Rules, which propose substantial new obligations for the cybersecurity programs of companies...more

U.S. Government Steps Up Its Enforcement in the Digital Assets Space

Alston & Bird on 5/26/2022

Our Blockchain & Digital Assets Team offers a snapshot sample of significant recent developments by a panoply of federal agencies and departments that represent the expanding array of enforcement tools used by federal...more

The Department of Justice Sets Cryptocurrency Squarely in its Sights

Sheppard Mullin Richter & Hampton LLP on 10/15/2021

The Department of Justice is aggressively scrutinizing participants in the cryptocurrency markets—including “financial institutions working with cryptocurrency”—to thwart the use of the technology as a vehicle for money...more

Federal Reserve Addresses Digital Currencies, Financial Firms Announce Crypto Initiatives, Blockchain Solutions Announced,...

BakerHostetler on 8/24/2020

Federal Reserve Addresses CBDCs Amid Crypto Initiatives by US and Foreign Firms - Late last week, Lael Brainard, a member of the Board of Governors of the U.S. Federal Reserve System, gave a speech in which she commented on...more

Beyond Switzerland: Preparing for the Fallout from FATCA and Other Global Transparency Initiatives

Latham & Watkins LLP on 8/12/2014

You have implemented FATCA; what comes next? Will your company be the next witness in a US tax investigation? Financial institutions around the world must now prepare to respond to anticipated inquiries and investigations as...more

GAO report recommends increased CFPB participation in virtual currency efforts

Ballard Spahr LLP on 7/1/2014

In a report issued last week on virtual currencies, the Government Accountability Office recommended increased CFPB participation in interagency efforts related to such currencies. The report, entitled “Virtual...more

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