News & Analysis as of

Banking Sector Depository Institutions Regulatory Requirements

Husch Blackwell LLP

New Exemption Order Creates More Flexibility and More Considerations with the Customer Identification Program Rule

Husch Blackwell LLP on

By an exemption order dated June 27, 2025, federal prudential regulators have given banks and credit unions some welcomed flexibility when collecting an individual’s or entity’s taxpayer identification number (TIN) during...more

Goodwin

Regulatory Process for Forming or Acquiring a Depository Institution

Goodwin on

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

Orrick, Herrington & Sutcliffe LLP

Wyoming enacts law for converting special purpose depository institutions to public trust companies

On March 17, Wyoming enacted SF 95 which addresses the conversion of special purpose depository institutions into public trust companies. The Act introduces a new section which outlines that, as part of a conversion...more

Amundsen Davis LLC

Legislation Introduced to Support New and Rural Banks by Easing Regulatory Requirements

Amundsen Davis LLC on

On January 16, 2025, Representative Andy Barr (R-KY) introduced a bill aimed at increasing the formation of new banks by easing regulatory requirements, particularly for de novo and rural financial institutions. The...more

Cooley LLP

FDIC Withdraws Four Biden-Era Proposed Rules

Cooley LLP on

On March 3, 2025, the Federal Deposit Insurance Corporation (FDIC) announced the withdrawal of three proposed rules intended to reshape oversight and regulatory obligations related to brokered deposits, corporate governance...more

WilmerHale

Why Depository Institutions, with or Without Affiliated Securities Firms, can and should Manage Employee Use of Personal Devices...

WilmerHale on

The purpose of this paper is to show how the failure to monitor for and prevent off-channel communications poses risk to traditional depository institutions that are not subject to the jurisdiction of securities-law...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Releases Final ‘Open Banking’ Rule on Personal Financial Data Rights

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) on personal financial data rights under Section 1033 of the Dodd-Frank Act. The Rule imposes significant new obligations on...more

Awatif Mohammad Shoqi Advocates & Legal...

New Amendments to the UAE Banking Law: Enhancing Efficiency and Stability

In recent years, the UAE has continuously updated its legal framework to enhance regulatory oversight and adapt to global financial trends. One significant development is the amended Federal Decree-Law No. 14/2018 on the...more

Goodwin

10 Key Takeaways From California’s New Consumer Finance Regulatory And Enforcement Regime

Goodwin on

Three California laws that affect fintech companies will go into effect on January 1, 2021. The California Consumer Financial Protection Law (CCFPL) expands the scope of the Department of Business Oversight’s (DBO) current...more

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

Ballard Spahr LLP

Federal Reserve Board approves final amendments to the liability provisions of Regulation CC

Ballard Spahr LLP on

Last Wednesday the Federal Reserve published approved final amendments to Regulation CC (Availability of Funds and Collections of Checks) which update the liability provisions of Reg. CC to address the nearly-complete...more

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