News & Analysis as of

Borrowers Banking Sector Federal Deposit Insurance Corporation

Orrick, Herrington & Sutcliffe LLP

U.S. Supreme Court rules misleading statements to FDIC not criminal

On March 21, the U.S. Supreme Court issued an opinion regarding the meaning of “false statement” in 18 U.S.C. § 1014 which defines terms for those who knowingly make a false statement or report. The case’s petitioner had...more

Dinsmore & Shohl LLP

Risk Areas to Consider Ahead of Your Next Regulatory Exam

Dinsmore & Shohl LLP on

The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. each periodically publish a report that describes their views on the current risk areas threatening the banking industry. The OCC calls its...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - October 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

White & Case LLP

Tying deposit insurance reform to reform of the tying of deposits

White & Case LLP on

On March 10, 2023 the California Department of Financial Protection and Innovation ("CDFPI") closed Silicon Valley Bank ("SVB"), a California chartered, non-member bank. The CDFPI placed SVB into receivership and appointed...more

Morrison & Foerster LLP

Federal Banking Agencies Exercise Emergency Powers During March 2023 Crisis

On March 13, 2023, Secretary of the Treasury Janet Yellen invoked the systemic risk exemption after receiving recommendations from the board of the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board...more

Foley & Lardner LLP

Borrowers at Failed FDIC-Insured Institutions: FAQs

Foley & Lardner LLP on

On March 10, 2023, the California Department of Financial Protection and Innovation (DFPI) closed Silicon Valley Bank (SVB). Upon closure, the DFPI appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The...more

Fenwick & West LLP

Silicon Valley Bank Closure: Updated Considerations Following the Creation of Silicon Valley Bridge Bank, N.A.

Fenwick & West LLP on

Considerations relating to Silicon Valley Bank (SVB)’s closure have continued to evolve as a result of the recent announcement by the Federal Deposit Insurance Corporation (FDIC) that it has transferred all deposits—both...more

Coblentz Patch Duffy & Bass

Impact of Recent Bank Failures on Borrowers, Landlords, and Other Stakeholders

By now, most will have heard the news that all deposits at Silicon Valley Bank have been made available to depositors. The Federal Deposit Insurance Corporation (FDIC), in a series of joint statements issued with the U.S....more

Buchalter

Advice to Landlords Holding Letters of Credit Issued by Silicon Valley Bank, and Landlords Where Silicon Valley Bank is a Tenant

Buchalter on

While unexpected, the closure by California regulators of, and the appointment of the Federal Deposit Insurance Corporation (“FDIC”) as receiver for, Silicon Valley Bank (“SVB”) is an event that is contemplated by most...more

Seward & Kissel LLP

Bank Contagion Spreads, Celsius Still Sending the Wulf? Voyager Nearing End of Journey, and Info (Salary) Wars

Seward & Kissel LLP on

Crypto-friendly lender Silvergate collapses | CNBC - Silvergate, a Crypto focused lender, announced it will wind down its operations and voluntarily liquidate the bank. This announcement comes a week after Silvergate...more

Foley Hoag LLP

Silicon Valley Bank: Recent Developments

Foley Hoag LLP on

We have received a number of inquiries from clients regarding Silicon Valley Bank’s (SVB) recent shut down by the California Department of Financial Protection and Innovation and the FDIC being named as the receiver. This is...more

Goodwin

SEC Proposes Changes to Private Fund Regulation

Goodwin on

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

Goodwin

FHFA Eliminates Adverse Market Refinance Fee

Goodwin on

In This Issue. The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will no longer charge lenders the Adverse Market Refinance Fee; the Federal Deposit Insurance Corporation (FDIC) is seeking...more

Goodwin

House Votes to Repeal OCC True Lender Rule

Goodwin on

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Goodwin

Biden Administration Issues Regulatory Freeze On New Agency Rules

Goodwin on

In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more

Goodwin

Financial Services Weekly: Amendments To SEC Proxy Solicitation Rules Approved By A 3-1 Vote

Goodwin on

In This Issue. The Securities and Exchange Commission (SEC) finalized amendments to its proxy solicitation rules that will modify the practices of proxy advisory firms, providing them with greater transparency and...more

Goodwin

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Goodwin

Financial Services Weekly Roundup: SBA Provides Guidance On Borrower’s Good Faith Certification

Goodwin on

In This Issue. The Small Business Administration (SBA) provided guidance on a borrower’s good faith certification on the necessity of Paycheck Protection Program (PPP) loan requests, announcing a safe harbor regarding this...more

Goodwin

Financial Services Weekly News: FDIC Issues Deposit Insurance Application Guidance For Non-Banks

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) published new procedures for federal deposit insurance applications from applicants that are not traditional community banks; federal banking regulators released...more

Orrick - Finance 20/20

Regulators Encourage Institutions to Work with Borrowers Affected by Government Shutdown

Orrick - Finance 20/20 on

On January 11, the FDIC issued a release encouraging institutions to modify terms on existing loans, including mortgages, student loans, car loans, business loans and credit cards, due to the federal government shutdown. ...more

Alston & Bird

Structured Finance Spectre - October 2018

Alston & Bird on

PRACTITIONER NOTES – Frankenstein’s Monster? Rosemary’s Baby? The Twins from the Shining? How Lenders are thinking about the Delaware Division Statute and Division LLCs - Recent amendments to the Delaware LLC Act (the...more

Sullivan & Worcester

Congress Introduces Bill to Clarify HVCRE Loans

Sullivan & Worcester on

Eric D. Lemont wrote the article, "Congress Introduces Bill to Clarify HVCRE Loans," which discusses proposed amendments to the Federal Deposit Insurance Act. Specifically, Mr. Lemont describes how the proposed legislation...more

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