Last week, the Federal Reserve Board published a paper on partnerships between community banks and fintech companies, “Community Bank Access to Innovation through Partnerships.” The Fed’s publication of the paper is another...more
The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide)....more
On Thursday, July 29, the Senate Banking Committee will hold a hearing entitled, “Protecting Americans from Debt Traps by Extending the Military’s 36% Interest Rate Cap to Everyone.” ...more
The FDIC has filed its reply in support of its motion for summary judgment in the lawsuit filed by a group of state attorneys general to set aside the FDIC’s “Madden-fix” rule. The reply responds to the AGs’ opposition to...more
The Federal Reserve, FDIC, and OCC released on July 13, 2021 proposed guidance for banking organizations on managing risks associated with third-party relationships, including relationships with financial technology-focused...more
The Federal Reserve, FDIC, and OCC have released proposed guidance for banking organizations on managing risks associated with third-party relationships, including relationships with financial technology-focused entities such...more
The D.C. federal district court hearing the lawsuit filed by the Conference of State Bank Supervisors (CSBS) seeking to block the Office of the Comptroller of the Currency from granting a national bank charter to Figure...more
The Attorney Generals of the six states and District of Columbia who filed a lawsuit against the FDIC to set aside its “Madden-fix” rule have filed a motion for summary judgment in the case. ...more
The OCC announced today that it is pausing publication of its final fair access rule in the Federal Register to “allow the next confirmed Comptroller of the Currency to review the final rule and the public comments the OCC...more
The OCC has issued a final rule establishing standards that a bank must follow in fulfilling its obligation to provide fair access to financial services. The final rule is effective on April 1, 2021....more