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Cryptocurrency › Financial Institutions › Depository Institutions

Mayer Brown

Credibly Challenged Podcast: Interview With Mark Quandahl, Former Director of the Nebraska Department of Banking and Finance

Mayer Brown on

Joe Castelluccio and Matt Bisanz interview Mark Quandahl, the former Director of the Nebraska Department of Banking and Finance. They discuss his role in the implementation of the Nebraska Financial Innovation Act, including...more

Orrick, Herrington & Sutcliffe LLP

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

Orrick, Herrington & Sutcliffe LLP on

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

Ballard Spahr LLP

Districts of Wyoming and Idaho Affirm Broad Fed Powers over Master Accounts

Ballard Spahr LLP on

Components of the U.S. Federal Reserve System recently prevailed in two lawsuits in which both plaintiffs – Custodia Bank and PayServices Bank – alleged the defendants were required to grant the plaintiffs’ master account...more

Cadwalader, Wickersham & Taft LLP

FRB Issues Policy Statement on Permissible Activities of State Member Banks While Denying Uninsured Crypto-focused Bank’s...

Cadwalader, Wickersham & Taft LLP on

The Federal Reserve Board (“FRB” or “Board”) issued two seemingly related press releases late last week. The first announced the denial of the Federal Reserve membership application by Custodia Bank, a Wyoming special purpose...more

Proskauer - Blockchain and the Law

Kraken Becomes First Digital Asset Company to Receive U.S. Bank Charter

Proskauer - Blockchain and the Law on

On September 16, 2020, Kraken announced that it “is the first digital asset company in U.S. history to receive a bank charter recognized under federal and state law, and will be the first regulated, U.S. bank to provide...more

Goodwin

Federal Reserve Proposes Rules To Modernize Regulations That Implement CRA

Goodwin on

In the News. The Board of Governors of the Federal Reserve System (Federal Reserve) proposed rules to modernize the regulations that implement the Community Reinvestment Act (CRA); the Conference of State Bank Supervisors...more

BCLP

Coming Up: A National Non-Depository Payments Charter?

BCLP on

Brian Brooks, Chief Operating Officer of the Office of the Comptroller of the Currency (“OCC”) said on Monday that he believes the OCC should investigate the viability and utility of a non-depository payments charter: “One of...more

Orrick - On the Chain

Wyoming, the “Equality State,” Seeks to Level the Playing Field for Digital Assets Businesses

Orrick - On the Chain on

In its continued effort to establish itself as the go-to jurisdiction for digital asset businesses, Wyoming, through its Department of Audit, Division of Banking, recently published a digital asset custody regime for its...more

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