The FDIC’s proposed bank resolution planning rule would make significant changes to its current rule and would cover more banks—including banks that have been subject to a moratorium on filing for the past five years. Other...more
The CFPB has issued a Circular addressing adverse action notification requirements and the proper use of the CFPB's sample forms provided in Regulation B when using artificial intelligence (AI) and complex credit models, and...more
9/25/2023
/ Adverse Action ,
Artificial Intelligence ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Discriminatory Lending Practices ,
ECOA ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
Financial Services Industry ,
Model Forms ,
Notice Requirements ,
Regulation B
As part of the continuing financial regulatory reform efforts following the 2023 bank failures, the FDIC, the OCC, and the Federal Reserve issued a proposed rule that would generally require large banks and thrifts with total...more
Besides being a shock to the market, the 2023 bank failures caused many to ask whether the federal banking agencies had done enough to prevent them. Precisely what the agencies should have done, or should do moving forward,...more
9/13/2023
/ Banking Sector ,
Banks ,
BSA/AML ,
Compliance ,
Enforcement Priorities ,
Federal Reserve ,
Financial Crisis ,
Financial Services Industry ,
Proposed Regulation ,
Silicon Valley ,
Supervision
Larger banking organizations directly affected by the U.S. federal banking agencies' recent proposed capital rule have been busy analyzing the substantial changes, increased costs, and other requirements and effects that have...more
Following the 2023 bank failures, the federal banking regulators (the Federal Reserve, the OCC, and the FDIC) have signaled that they are seeking to develop more stringent bank regulatory requirements for larger banking...more
8/29/2023
/ Banking Regulators ,
Banking Sector ,
Banks ,
Capital Requirements ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Liquidity ,
OCC ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Requirements
On August 8, 2023, the Federal Reserve released new guidance for supervised banking organizations on how they can engage in certain crypto-asset-related activities. With the release of the guidance, the Federal Reserve...more
Everyone—including fintechs, other non-bank companies, and associated individuals—that either partners with banks or seeks to provide alternatives to insured deposits must comply with the FDIC's deposit insurance advertising...more