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Biden Administration Financial Institutions Cryptocurrency

Moore & Van Allen PLLC

New Executive Order Raises Spotlight on Debanking

Moore & Van Allen PLLC on

As anticipated, on August 7th, the White House published its Executive Order designed to address the “unlawful debanking” of certain individuals and industries. The Executive Order titled Guaranteeing Fair Banking For All...more

Holland & Knight LLP

New Frontiers: CFPB Proposes Extending Consumer Protections to Other Digital Payment Mechanisms

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In the waning days of the Biden Administration, the Consumer Financial Protection Bureau (CFPB) on Jan. 10, 2025, issued a proposed interpretive rule that would provide a framework for determining when the Electronic Fund...more

Skadden, Arps, Slate, Meagher & Flom LLP

Recent Actions by the Fed Show Its Continued Cautious Approach to Cryptoasset Activities by Supervised Institutions

In the past year, the Board of Governors of the Federal Reserve System (the Board) Biden administration officials, and other U.S. banking regulators have repeatedly voiced growing concerns about certain cryptoasset...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: Issue 12, December 2022

US Senators Ask SoFi About Its Banking Law Compliance = “Four U.S. senators have signed a letter to SoFi Technologies CEO Anthony Noto expressing concerns about the online personal finance company and online bank’s digital...more

Robins Kaplan LLP

Peloton Reels from Big Quarterly Losses

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Peloton’s quarterly earnings report showed that the company’s early-pandemic boom times are now firmly behind it, as the connected fitness bike maker delivered losses of $757 million for the first three months of 2022—“far...more

Goodwin

President Biden Signs Executive Order Banning New Investments in Russia

Goodwin on

In This Issue. President Biden issued an executive order banning new investments in Russia in response to Russia’s continued war against Ukraine; the Federal Deposit Insurance Corporation (FDIC) issued a notification to all...more

Goodwin

CFPB Launches New Initiative Focused on Rural Communities

Goodwin on

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

Spilman Thomas & Battle, PLLC

The Cryptocurrency Revolution and President Biden's Formal Recognition

Out of the ashes of the 2008 financial crisis, Bitcoin sprang up like an insurgency, targeting both the unbridled activity of large financial institutions and the monetary policies of governments charged with overseeing them....more

Foley Hoag LLP

Russia and Belarus Sanctions Update – March 15, 2022

Foley Hoag LLP on

On March 11, 2022, President Biden signed a new Russia-related Executive Order, Prohibiting Certain Imports, Exports, and New Investment with Respect to Continued Russian Federation Aggression (“March 11 E.O.”)....more

Pillsbury Winthrop Shaw Pittman LLP

A Long-Awaited Effort to Clarify Regulation of Digital Assets and Cryptocurrency—Unpacking the Biden Administration’s New...

The Biden Administration has launched a comprehensive effort to develop a cohesive policy approach for digital assets. Key agencies are instructed to report on digital asset issues and legal framework in relation to...more

Miller Nash LLP

Chaos at the FDIC—What Portends for Banks in 2022

Miller Nash LLP on

Recent events at the FDIC leading up to the resignation of Chairman Jelena McWilliams foreshadow a challenging year for banks in 2022. The unprecedented power struggle at the FDIC whereby a majority of the Board initiated a...more

Skadden, Arps, Slate, Meagher & Flom LLP

Federal Regulators Move To Regulate Stablecoins Through Banking Laws Plus New Legislation

The President’s Working Group on Financial Markets (PWG), together with the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), released a much-anticipated Report on...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Issue 9

Top IRS Official Says Marijuana Banking Reform Would Help Feds ‘Get Paid’ - "IRS’s Cassidy Collins talked about the 'special type of collection challenge' that the agency faces when it comes to working with cannabis...more

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2021

Federal and State Financial Regulators Publish New Guidance on LIBOR Transition - The federal banking agencies, the NCUA and the CFPB, in conjunction with the state bank and state credit union regulators, have issued joint...more

Robins Kaplan LLP

Financial Daily Dose 8.5.2021 | Top Story: Robinhood Stock Surges a Week After Its Dismal Debut

Robins Kaplan LLP on

Robinhood, the trading app that helped facilitate the pandemic-era rise of meme stock craziness, has gone meme-level itself this week, with its shares rising more than 65% at one point on Wednesday before Nasdaq briefly...more

King & Spalding

Pumping the Brakes: FinCEN Reopens Comment Period for Controversial Crypto Reporting & Recordkeeping Rules

King & Spalding on

After Widespread Market Opposition in an Expedited First Round of Comments, FinCEN Solicits More Feedback on Rule Seeking to “Close Gaps” in Virtual Currency Anti-Money Laundering Rules On January 14, in a surprise move,...more

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