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Coblentz Patch Duffy & Bass

Federal Reserve to Implement New ISO 20022 Funds Wiring System

Due to the Federal Reserve’s imminent shift to a new funds wiring system (known as ISO 20022), if you have upcoming plans to transfer any amount of funds via wire transfer, confirm with your bank and anyone else handling your...more

Morrison & Foerster LLP

No Full TIN, No Problem: FinCEN Approves of TIN Verification Through a Third Party

On June 27, 2025, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order (Order) allowing banks,[1] and their subsidiaries, subject to the jurisdiction of the Office of the Comptroller...more

A&O Shearman

The Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025

A&O Shearman on

The Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025 (SI 2025/688) have been published, alongside an explanatory memorandum. The regulations amend regulation 51 of the Payment Services...more

A&O Shearman

ECB Decision (EU) 2025/1148 on access by Non-Bank Payment Service Providers to TARGET published in OJ

A&O Shearman on

The Decision (EU) 2025/1148 of the European Central Bank (ECB) adopted on 2 June, has been published in the Official Journal of the European Union. This decision amends Decision (EU) 2025/222 concerning access by non-bank...more

Skadden, Arps, Slate, Meagher & Flom LLP

PRA Announces Updates to Approach of Responsible Openness to International Banks

On 20 May 2025, the UK Prudential Regulation Authority (PRA) published a policy statement (PS6/25) on business conducted within branches of international banks operating in the UK, as well as its booking model expectations...more

Latham & Watkins LLP

OCC Affirms Banks Can Engage in Crypto Custody and Execution Activities

Latham & Watkins LLP on

The federal banking agencies continue to open the channels for regulated entities to engage in digital asset activities. On May 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter...more

Orrick, Herrington & Sutcliffe LLP

OCC announces changes to its organizational structure

On April 16, the OCC announced several changes to its organizational structure to align its supervisory approach to the agency’s priorities. The OCC announced the combination of the Midsize and Community Bank Supervision and...more

A&O Shearman

European Commission targeted consultation on the application of the markets risk prudential framework

A&O Shearman on

The European Commission (EC) has launched a consultation to help determine the best approach for the application of the EU's framework on market risk prudential requirements for banks, with an accompanying press release. Last...more

Ballard Spahr LLP

FDIC extends compliance date for parts of new signage rule

Ballard Spahr LLP on

The FDIC is providing financial institutions with additional time to comply with parts of the new FDIC signage and advertising rule by extending the compliance date from January 1, 2025 to May 1, 2025....more

Troutman Pepper Locke

California DFPI’s Earned Wage Access Regulations Approved by OAL

Troutman Pepper Locke on

On October 11, the Office of Administrative Law (OAL) approved the California Department of Financial Protection and Innovation’s (DFPI) proposed regulations on direct-to-consumer (i.e., non-employer offered) earned wage...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

FDIC Closing in on Implementing the Fair Hiring in Banking Act With Proposed Regulations for Section 19

The Federal Deposit Insurance Corporation (FDIC) is close to finalizing revisions to regulations regarding Section 19 of the Federal Deposit Insurance Act to align them with the Fair Hiring in Banking Act (FHBA), which eased...more

Mintz - Energy & Sustainability Viewpoints

New ESG Requirements for Banks that Hold Public Funds May Raise Challenging Compliance Issues

Much ink has been spilled about ESG laws and regulations targeted at the investment of public funds, and rightfully so.  Yet, there has been little discussion of novel requirements imposed on banks that simply hold state or...more

Cadwalader, Wickersham & Taft LLP

UK's PRA Sets Regulatory Priorities for International Banks

On 10 January, the UK’s Prudential Regulation Authority (“PRA“) wrote to international banks active in the UK to update them on regulatory priorities for 2023. While these clearly reflect current macroeconomic drivers,...more

Ballard Spahr LLP

NY DFS Finalizes Rigorous AML/BSA Regulation

Ballard Spahr LLP on

The New York Department of Financial Services (DFS) has finalized a new regulation setting forth rigorous standards for monitoring and filtering programs to monitor transactions for potential anti-money laundering (AML) and...more

Orrick - Finance 20/20

EBA Revises Implementing Technical Standards on Supervisory Reporting

Orrick - Finance 20/20 on

On September 10, 2015, the European Banking Authority (EBA) issued a revised list of validation rules in its implementing technical standards on supervisory reporting under the Capital Requirements Regulation (Regulation...more

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