On March 28, the FDIC released the spring edition of its consumer compliance supervisory highlights. The FDIC supervises approximately 3,000 state-chartered banks and thrifts that are not members of the Federal Reserve...more
5/13/2024
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
EFTA ,
Fair Lending ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
FTC Act ,
Regulation E ,
Regulation Z ,
Section 5 ,
Truth in Lending Act (TILA)
On March 28, the Federal Reserve (Fed) issued a cease-and-desist order to a Wyoming-based bank holding company, citing deficiencies identified in a September 2023 inspection related to its “fintech business strategy, board...more
4/22/2024
/ Bank Holding Company ,
Banking Sector ,
Banks ,
Business Strategies ,
Cease and Desist Orders ,
Enforcement ,
Financial Services Industry ,
FinTech ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management
On March 21, the FDIC, Fed, and OCC jointly issued an interim final rule to extend the applicability date of certain provisions of the Community Reinvestment Act (CRA) final rule and requested comments on the extension. The...more
4/8/2024
/ Banks ,
Community Development ,
Community Reinvestment Act ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Lending ,
OCC ,
Rulemaking Process
On March 25, a coalition of trade groups filed suit in the United States District Court for the District of Colorado, challenging a Colorado law which would have opted the state Section 521 of the Depository Institutions...more
On January 30, a Tennessee-based community bank entered into a consent order with the Federal Deposit Insurance Corp. following the agency’s allegations that the Bank engaged in unsafe or unsound banking practices relating to...more
On January 29, a Missouri-based bank and its Kansas-based fintech loan servicer filed a joint motion to dismiss a purported class action filed against them alleging violations of the Georgia Installment Loan Act (GILA) and...more
On February 5, several trade groups, including the American Bankers Association, the Independent Community Bankers of America, and the U.S. Chamber of Commerce, filed suit against the Federal Reserve Board, the FDIC, and the...more