Regulatory Developments -
FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance -
On June 16, the FDIC revised its Supervisory Guidance on Multiple Re-Presentment Non-Sufficient Funds...more
6/30/2023
/ Asset Management ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Cybersecurity ,
DIDMCA ,
FDIC ,
Fees ,
FinTech ,
Insufficient Funds ,
Military Service Members ,
Mobile Apps ,
OCC ,
Overdraft Fees ,
Supervisory Guidance
Colorado House Bill 23-1229 (the Bill) was signed into law on June 5, 2023. As part of the Bill, Colorado opted out of the federal interest exportation right granted to federally insured, state‐chartered banks under the...more
Agencies Issue Final Guidance on Third-Party Risk Management -
On June 6, the Federal Reserve, FDIC, and OCC issued final joint guidance (the Guidance) pertaining to banking organizations’ risk management of third-party...more
6/12/2023
/ Algorithms ,
Artificial Intelligence ,
Automation Systems ,
Banking Sector ,
Bots ,
Capital Formation ,
CFTC ,
Consumer Financial Protection Bureau (CFPB) ,
FDIC ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
FinTech ,
Liquidity ,
OCC ,
Policies and Procedures ,
Private Investment Funds ,
Proposed Rules ,
Publicly-Traded Companies ,
Risk Management ,
Swap Dealers ,
Swaps ,
Third-Party Relationships ,
Third-Party Risk
In this Weekly Roundup Issue. The Federal Deposit Insurance Corporation (FDIC) issued a proposed rule to impose a special assessment pursuant to systemic risk determination; The Board of Governors of the Federal Reserve...more
On May 19, FinCEN and BIS issued an alert urging financial institutions to watch for attempts to evade export controls imposed on Russia. The alert focuses on ongoing federal initiatives to limit Russian access to technology...more
5/26/2023
/ Bureau of Industry and Security (BIS) ,
CFTC ,
Consumer Financial Protection Bureau (CFPB) ,
Derivatives Clearing Organizations ,
Economic Sanctions ,
Evasion ,
Export Controls ,
Financial Institutions ,
FinCEN ,
FinTech ,
Freddie Mac ,
Interest Rates ,
Registration Requirement ,
Russia ,
Safeguards Rule ,
Securities and Exchange Commission (SEC) ,
UDAAP
Regulatory Developments -
Federal Reserve Announces Results From the Review of the Supervision and Regulation of SVB -
On April 28, the Federal Reserve released its report analyzing SVB’s failure (Report). The Report...more
5/5/2023
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Deposit Insurance ,
ECOA ,
FDIC ,
Federal Reserve ,
Financial Regulatory Reform ,
FinTech ,
Libor ,
Mortgage Lenders ,
Mortgages ,
Proposed Legislation ,
Regulatory Requirements ,
Silicon Valley ,
Small Business ,
Supervision
Regulatory Developments -
FinCEN Issues Initial Beneficial Ownership Information Reporting Guidance -
On March 24, FinCEN published guidance materials for the new beneficial ownership reporting requirements taking...more
4/17/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
Commercial Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Transparency Act ,
Credit Cards ,
Financial Institutions ,
FinCEN ,
Preemption ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Truth in Lending Act (TILA)
Regulatory Developments -
Federal Reserve and FDIC Solicit Public Comments on Proposed Rulemaking Addressing Large Banks’ Financial Stability -
On October 14, the Federal Reserve and the FDIC published for public...more
In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed changes to private fund regulation; the Office of the Comptroller of the Currency (OCC) succeeded in validating its “valid-when-made” rulemaking; the...more
2/11/2022
/ Appraisal ,
Banking Sector ,
Beneficial Owner ,
Borrowers ,
Comment Period ,
Community Development ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Transparency Act ,
Cyber Attacks ,
Cyber Threats ,
Cybersecurity ,
Dodd-Frank ,
Fair Lending ,
FDIC ,
Federal Reserve ,
Federal Savings Associations ,
Financial Services Industry ,
FinCEN ,
FinTech ,
Investment Adviser ,
Investment Companies ,
Lenders ,
New Rules ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Policies and Procedures ,
Private Funds ,
Proposed Amendments ,
Proposed Rules ,
Public Comment ,
Reporting Requirements ,
Risk Management ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
State Savings Associations ,
Valid When Made Doctrine
WHAT YOU NEED TO KNOW:
- The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has issued a proposed rule to implement portions of the Corporate Transparency Act codified at 31 U.S.C. § 5336...more
12/22/2021
/ Anti-Money Laundering ,
Beneficial Owner ,
Business Entities ,
Comment Period ,
Corporate Transparency Act ,
Exemptions ,
FinCEN ,
Pooled Investment Vehicles ,
Proposed Rules ,
Public Comment ,
Reporting Requirements