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Digital Currency Federal Reserve Financial Institutions

Orrick, Herrington & Sutcliffe LLP

CRS examines Fed responsibilities and challenges in the 119th Congress

Recently, the Congressional Research Service published a report titled, “Federal Reserve: Policy Issues in the 119th Congress,” which analyzed policy issues for Congress in each category of the Fed’s responsibilities. The...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: What is FedNow and its Role in the U.S. Payments System?

Ballard Spahr LLP on

Our special guest is Professor Dan Awrey of Cornell Law School. In July 2023, the Federal Reserve launched FedNow, its instant payments system. After reviewing what FedNow is (and is not), we discuss FedNow’s design features...more

Poyner Spruill LLP

The Federal Reserve’s Rejection of SPDI Custodia Bank’s Applications

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On January 27, 2023, the Federal Reserve rejected Custodia’s August 2021 application to be a Federal Reserve member bank. On the same day, the Kansas City Federal Reserve denied Custodia’s October 2020 application for a...more

White & Case LLP

A New “Operation Choke Point”? The Quickly Changing Rules on Crypto Activities for Member Banks

White & Case LLP on

In an effort to align the permissibility of crypto activities for all member banks of the Federal Reserve System (the "FRS", which includes all national banks and state member banks), the Board of Governors of the Federal...more

A&O Shearman

Fed Imposes New Roadblock on Banks’ Crypto Activities

A&O Shearman on

Today, the Fed announced a new procedural requirement for banks seeking to engage in crypto activities. Going forward, a bank must provide formal notice to its lead supervisory contact at the Fed “prior to engaging in any...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2022

Federal Reserve Considers Merits of Creating a U.S. Dollar Digital Currency The Federal Reserve has published a discussion paper that examines the pros and cons associated with the creation of a U.S. central bank digital...more

Kilpatrick

Federal Reserve Vice Chairman for Supervision Speaks About “Prudent Innovation in the Payment System”

Kilpatrick on

On November 30, 2017, Federal Reserve Board Vice Chairman for Supervision Randal Quarles delivered remarks at the 2017 Financial Stability and Fintech Conference sponsored by the Federal Reserve Bank of Cleveland, the Office...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Fed’s Open Markets Committee meets today, and despite relatively robust economic numbers of late, the lack of oped-for inflation (among other things) is likely to keep the Fed from moving on interest rates again at this...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

It’s been far from a smooth ride for Uber over the past few weeks. And Friday’s revelation that the ride-sharing company’s been using a tool called “Greyball” to mine and use app data to “deceive the authorities in markets...more

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