The Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”), which would comprehensively regulate stablecoins in the United States, was adopted by the U.S. Senate on June 17 by a bipartisan...more
6/24/2025
/ Commodities ,
Cryptocurrency ,
Custodians ,
Depository Institutions ,
Digital Assets ,
FDIC ,
Financial Services Industry ,
OCC ,
Payment Processors ,
Payment Systems ,
Pending Legislation ,
Regulatory Requirements ,
Securities ,
Stablecoins ,
U.S. Treasury
This third installment in our series of insights on bank charter considerations describes the process for seeking regulatory approval to form or acquire a bank....more
Hi, thanks so much for joining us. I’m Samantha Kirby, chair of financial services here at Goodwin, and today, we’re going to talk to you about what we’re watching with respect to the bank regulatory agencies and the Consumer...more
4/23/2025
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
FDIC ,
Federal Reserve ,
Final Rules ,
Financial Regulatory Reform ,
OCC ,
Proposed Rules ,
Regulatory Reform ,
Trump Administration
On July 27, 2023, the Federal Reserve, FDIC, and OCC issued a notice of proposed rulemaking and request for comment on a proposal (the Proposal) to implement the final components of the Basel III Capital Accords, often...more
8/4/2023
/ Banking Crisis ,
Banking Regulators ,
Banking Sector ,
Basel III ,
Capital Requirements ,
Comment Period ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Large Financial Institutions (LFIs) ,
OCC ,
Proposed Regulation ,
Silicon Valley ,
Systemic Risk Buffer
In this Weekly Roundup Issue. The Commodity Futures Trading Commission’s (CFTC) Division of Enforcement unveiled two new task forces aimed at tackling derivatives market issues; and the Office of the Comptroller of the...more
On June 6, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, Agencies)...more
7/3/2023
/ Banking Regulators ,
Banking Sector ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Joint Policy Statements ,
New Guidance ,
OCC ,
Risk Assessment ,
Risk Management ,
Third-Party Risk
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
Regulatory Developments Federal Agencies Propose Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations. On June 8, the CFPB, FDIC, Federal Reserve, NCUA, and OCC requested public comment on...more
6/26/2023
/ Coinbase ,
Consumer Financial Protection Bureau (CFPB) ,
Data Brokers ,
FDIC ,
Federal Reserve ,
Investment Adviser ,
Marketing ,
NCUA ,
OCC ,
Property Valuation ,
Proposed Guidance ,
Real Estate Transactions ,
Residential Real Estate Contracts ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs) ,
Valuation
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
Regulatory Developments -
Overdraft Protection Programs: Risk Management Practices -
On April 26, the OCC issued guidance in OCC Bulletin 2013-12, “Overdraft Protection Programs: Risk Management Practices,” to...more
5/1/2023
/ Banking Sector ,
Banks ,
Broker-Dealer ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Duty of Care ,
ECOA ,
Enforcement Actions ,
FDIC ,
Financial Services Industry ,
FSOC ,
FTC Act ,
Investment Adviser ,
New Guidance ,
OCC ,
Overdraft Fees ,
Redlining ,
Regulation BI ,
Risk Management ,
Section 5 ,
Unfair or Deceptive Trade Practices
Regulatory Developments -
Agencies Issue Joint Statement on Liquidity Risks Resulting from Crypto-Asset Market Vulnerabilities -
On February 23, the Federal Reserve, FDIC and OCC (the Agencies) issued a “Joint...more
3/3/2023
/ Adjudicatory Process ,
Change in Control ,
Construction Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Cryptoassets ,
Disclosure Requirements ,
FDIC ,
Financial Regulatory Agencies ,
Financial Stability Board ,
Liquidity ,
OCC ,
Risk Assessment ,
Risk Management
On February 9, the Federal Reserve released its hypothetical scenarios for its 2023 bank stress tests, and on February 10, the OCC also released hypothetical economic and financial market scenarios to be used by covered...more
2/17/2023
/ Amended Regulation ,
Banks ,
Blockchain ,
Buy Now Pay Later (BNPL) ,
Commercial Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Custody Rule ,
Disclosure Requirements ,
Dodd-Frank ,
Enforcement Actions ,
Federal Reserve ,
NYDFS ,
OCC ,
RESPA ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Stress Tests
Regulatory Developments -
Federal Reserve Invites Public Comment on Proposed Principles for Large Banking Organizations to Manage Climate-Related Financial Risks -
On December 2, the Federal Reserve announced that it...more
12/12/2022
/ Broker-Dealer ,
Climate Change ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Initial Public Offering (IPO) ,
Investment Adviser ,
Military Service Members ,
Nasdaq ,
NYSE ,
OCC ,
Payment Systems ,
Preemption ,
Proposed Regulation ,
Public Comment ,
Pump and Dump ,
Regulation S-ID ,
Risk Management ,
Servicemembers Civil Relief Act (SCRA) ,
Truth in Lending Act (TILA)
Regulatory Developments -
CFPB Issues Guidance on Investigation Practices by Consumer Reporting Agencies -
On November 22, the DOL announced a final rule under the Employee Retirement Income Security Act (ERISA) to...more
12/2/2022
/ Coronavirus/COVID-19 ,
Credit Reporting Agencies ,
Credit Reports ,
Cryptoassets ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
OCC ,
Retirement Plan
In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed rules to include certain significant market participants as “dealers” or “government securities dealers” to essentially eliminate the trader exclusion...more
4/1/2022
/ Bank Merger Act ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Ratings ,
Cyber Attacks ,
Cyber Threats ,
Cybersecurity ,
Examination Procedures ,
FDIC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Market Participants ,
Mergers ,
New Rules ,
Notification Requirements ,
OCC ,
Proposed Amendments ,
Proposed Rules ,
Regulation M ,
Request For Information ,
Reverse Mergers ,
Securities and Exchange Commission (SEC) ,
Securities Dealers ,
Securities Regulation ,
Securities Transactions ,
Special Purpose Acquisition Companies (SPACs) ,
UDAAP
In This Issue. The Consumer Financial Protection Bureau (CFPB) announced a new initiative focused on financial issues faced by rural communities and also updated its examination procedures to cover unfair discrimination; the...more
3/18/2022
/ Abusive Acts ,
Agricultural Sector ,
Annual Reports ,
Banking Sector ,
Biden Administration ,
Blockchain ,
Broker-Dealer ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Cyber Incident Reporting ,
Cybersecurity ,
Digital Assets ,
Disclosure Requirements ,
Division of Trading and Markets ,
Examination Procedures ,
Executive Orders ,
Exemptions ,
FDIC ,
Final Rules ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
Insured Depository Institutions ,
Investors ,
Manufactured Housing ,
OCC ,
Proposed Rules ,
Publicly-Traded Companies ,
Reporting Requirements ,
Risk Management ,
Risk Mitigation ,
Rural Areas ,
Securities and Exchange Commission (SEC) ,
Stress Tests ,
Suspicious Activity Reports (SARs) ,
Time Extensions ,
UDAAP ,
Unfair or Deceptive Trade Practices
In this Issue. The Financial Crimes Enforcement Network (FinCEN) published an alert warning financial institutions of possible efforts to evade U.S.-imposed sanctions on Russia and Belarus; the U.S. Department of the Treasury...more
3/14/2022
/ Banking Sector ,
Belarus Sanctions ,
Beneficial Owner ,
Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Assets ,
Economic Sanctions ,
Executive Orders ,
FATF ,
FDIC ,
Financial Action Task Force ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Investors ,
Money Laundering ,
OCC ,
Risk Assessment ,
Risk Management ,
Russia ,
Shell Corporations ,
Terrorist Financing ,
U.S. Treasury ,
Virtual Currency
In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule to increase market transparency regarding short selling and extended the comment period for its proposed rule requiring reporting on...more
3/4/2022
/ Annual Percentage Rate (APR) ,
Banking Sector ,
Bias ,
Borrowers ,
Comment Period ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Cyber Attacks ,
Cyber Threats ,
Cybersecurity ,
Disclosure Requirements ,
Federal Reserve ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
Form CRS ,
Interest Rates ,
Lenders ,
Loan Forgiveness ,
Loan Servicer ,
OCC ,
Property Valuation ,
Proposed Rules ,
Public Comment ,
Public Service Loan Forgiveness program (PSLF program) ,
Regulation Best Interest ,
Regulation SHO ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Short Sales ,
Short Selling ,
Student Loans
In This Issue. The Federal Reserve Board of Governors (Federal Reserve), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released stress test scenarios to assess...more
2/18/2022
/ Augmented Reality ,
Bank Secrecy Act ,
Banking Sector ,
Beneficial Owner ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Derivatives ,
FDIC ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
Investment Firms ,
Investors ,
OCC ,
OMB ,
Proposed Amendments ,
Proposed Rules ,
Public Comment ,
Reporting Requirements ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Stress Tests ,
Virtual Reality ,
Whistleblower Protection Policies ,
Whistleblowers
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
In This Issue. Acting Comptroller of the Currency Michael J. Hsu discussed the importance of regulation in the crypto space; and the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau...more
In this Issue. The Office of the Comptroller of the Currency (OCC) is seeking feedback on principles for climate-related financial risk management for large banks; the Department of Justice’s Antitrust Division is seeking...more
1/7/2022
/ Antitrust Division ,
Banking Sector ,
Banks ,
Beneficial Owner ,
Best Practices ,
Board of Governors ,
Broker-Dealer ,
Climate Change ,
Comment Period ,
Community Banks ,
Corporate Transparency Act ,
Department of Justice (DOJ) ,
Depository Institutions ,
Disclosure Requirements ,
Division of Investment Management ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Foreign Corporations ,
Form CRS ,
Mergers ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Ownership Requirements ,
PCAOB ,
Proposed Rules ,
Public Comment ,
Publicly-Traded Companies ,
Registered Investment Advisors ,
Reporting Requirements ,
Repurchases ,
Retail Investors ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
In This Issue. The U.S. Securities and Exchange Commission (SEC) voted to propose money market fund reforms; the SEC also proposed amendments to Rule 10b5-1 trading plans and to modernize and improve share repurchase...more
12/17/2021
/ 10b5-1 Plans ,
AML/CFT ,
Bank Secrecy Act ,
Banking Sector ,
Chief Compliance Officers ,
Comment Period ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
Electronic Fund Transfer Act ,
Federal Reserve ,
Final Rules ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
Insider Trading ,
Investment Company Act of 1940 ,
Investment Funds ,
Money Market Funds ,
OCC ,
Policies and Procedures ,
Proposed Amendments ,
Proposed Rules ,
Public Comment ,
Regulation E ,
Regulatory Agenda ,
Reporting Requirements ,
Request For Information ,
Risk Management ,
Rule 2a-7 ,
Rulemaking Process ,
SBS Entities ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Security-Based Swaps ,
Stock Repurchases ,
Swap Dealers ,
Trading Plans
In This Issue. The Financial Crimes Enforcement Network (FinCEN) announced (1) a notice of proposed rulemaking for beneficial ownership information reporting requirements and (2) a regulatory process for new real estate...more
12/10/2021
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Amended Rules ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Beneficial Owner ,
Broker-Dealer ,
BSA/AML ,
CFTC ,
Comment Period ,
Continuing Education ,
Coronavirus/COVID-19 ,
Corporate Transparency Act ,
FDIC ,
FFIEC ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
FinCEN ,
Foreign Corporations ,
Libor ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Proposed Rules ,
Public Comment ,
Real Estate Transactions ,
Recordkeeping Requirements ,
Registration Requirement ,
Regulation Z ,
Reporting Requirements ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC)