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Dodd-Frank Wall Street Reform and Consumer Protection Act › Bank Holding Company Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Goodwin

Consequences of Forming or Acquiring a Depository Institution

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This second installment in a series of insights on bank charter considerations describes the consequences of operating through an insured depository institution charter, including capital requirements, supervision and...more

Goodwin

FDIC Approves ILC With Traditional Bank Business Model (But Don’t Rush To Submit Your Application Just Yet)

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An industrial bank or industrial loan company (each, an ILC) charter can be an attractive option for a financial technology company (fintech) or other company seeking to enter the banking space. In June 2024, the Federal...more

Nutter McClennen & Fish LLP

Nutter Bank Report: March 2022

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CFPB Announces Intention to Expand Enforcement Against Unfair Discrimination - The CFPB has published an updated examination manual for evaluating unfair, deceptive, and abusive acts and practices (“UDAAPs”), which explains...more

Kelley Drye & Warren LLP

The Final Volcker Rule: Implications for Venture Capital

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Introduction - As we approach the final quarter of 2020, we thought it would be helpful to recap one of the significant rule changes of the past few months that is likely to benefit venture capital funds and startup...more

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2020

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Federal Regulators Ease Restrictions on Volcker Rule Covered Funds  The federal banking agencies, along with the SEC and the CFTC, have issued a final rule to amend the regulations that implement Section 13 of the Bank...more

Morgan Lewis - All Things FinReg

Volcker Rule Changes Adopted, Lifting Certain Compliance Burdens for Covered Funds

Morgan Lewis - All Things FinReg on

The US federal financial regulatory agencies with responsibility for implementing and enforcing Section 13 of the Bank Holding Company Act, commonly known as the Volcker Rule, have finalized amendments to the “covered fund”...more

Mayer Brown

Volcker Rule Revision Complete: Easing the Compliance Burden for Banks

Mayer Brown on

On June 25, 2020, five federal financial regulatory agencies published the long awaited Final Revisions to the Volcker Rule (the “Final Revisions”) which revise certain aspects of the Volcker Rule (Section 13 of the Bank...more

Herbert Smith Freehills Kramer

Understanding the Newly Proposed Credit Fund Exclusion Under the Volcker Rule

Herbert Smith Freehills Kramer on

Section 13 of the Bank Holding Company Act of 1956 (the BHC Act) generally prohibits any insured depository institution (as defined in Section 3(c) of the Federal Deposit Insurance Act, but excluding institutions that...more

King & Spalding

Covered Funds May Cover Less

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The federal agencies responsible for the Volcker Rule have proposed to clarify some requirements for exclusion from the definition of “covered fund” and to increase the types of funds excluded from that definition. The...more

Goodwin

Financial Services Weekly News: Regulators Propose Easing Volcker Rule Restrictions

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In This Issue. Federal financial regulators brought January to an impactful conclusion last week. On the morning of January 30, five federal financial regulators issued a proposed rule that would fundamentally modify the...more

Orrick, Herrington & Sutcliffe LLP

Rolling Back the Impact of the Volcker Rule on CLOs

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Last week the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission and the Commodity Futures...more

Cadwalader, Wickersham & Taft LLP

Volcker 3.0: The Agencies Propose Relief for Securitizations and Foreign Funds and New Exemptions from the Volcker Rule’s Covered...

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On January 30, 2020, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity...more

Polsinelli

Proposed Changes to the Volcker Rule

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On January 30, 2020, the U.S. Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency, Treasury (OCC), the Board of Governors of the Federal Reserve System (“Fed”), the Federal Deposit...more

Morrison & Foerster LLP

Amendments to Volcker Rule Regulations

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On August 20, 2019, the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) approved a final rule (the “2019 Final Rule”) to amend the rules implementing Section 13 of the...more

Latham & Watkins LLP

Two Proposed Volcker Rule Updates: “Banking Entity” Definition and Name-Sharing Restriction

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The proposed modifications, if adopted, would amend the Volcker Rule in a manner consistent with the statutory amendments under the Economic Growth, Regulatory Relief, and Consumer Protection Act. The Economic Growth,...more

K&L Gates LLP

Volcker Rule

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Introduction - This practice note provides an overview of the Volcker Rule, which was enacted in 2010 as Section 619 of the comprehensive Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and...more

BCLP

Two Key EGRRCPA Provisions Now Effective

BCLP on

As of the end of August 2018, two key provisions of The Economic Growth, Regulatory Relief, and Consumer Protection Act (aka the Crapo bill, S.2155, or increasingly, EGRRCPA) have become effective: the increase in the small...more

Polsinelli

Fed Board Clears Rewrite of Volcker Rule

Polsinelli on

Proposed Changes Subject to 60-Day Comment Period - On May 30, the Federal Reserve Board of Governors voted unanimously in favor of a proposal to amend section 13 of the Bank Holding Company Act (Volcker Rule), which was...more

Kilpatrick

What the Senate’s Passage of the Economic Growth, Regulatory Relief and Consumer Protection Act Could Mean for Fintech

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On March 14, 2018, the United States Senate passed the most significant piece of regulatory reform legislation for community financial institutions in nearly a decade. The Economic Growth, Regulatory Relief and Consumer...more

K&L Gates LLP

An Overview of the Volcker Rule

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This practice note provides an overview of the Volcker Rule, which was enacted in 2010 as Section 619 of the comprehensive Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and codified as the new...more

BCLP

FRB Lifts Threshold for Financial Stability Review

BCLP on

In its March 2017 approval of People United Financial, Inc.’s merger with Suffolk Bancorp (the “Peoples United Order”), the Federal Reserve Board eased the approval criteria for certain smaller bank merger transactions by...more

Morrison & Foerster LLP

Federal Banking Agencies Issue Recommendations as Part of Their Section 620 Report to Solidify the Safety and Soundness of the...

Morrison & Foerster LLP on

On September 8, 2016, the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Office of the Comptroller of the Currency (the “OCC,” and...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

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Federal Reserve Announces Extension of Conformance Period under Section 13 of the Bank Holding Company Act - On July 7, 2016, the Federal Reserve announced that it will extend until July 21, 2017 the conformance period...more

Orrick - Finance 20/20

Federal Reserve Announces Extension of Conformance Period Under Section 13 of the Bank Holding Company Act

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On July 7, 2016, the Federal Reserve announced that it will extend until July 21, 2017 the conformance period for banking entities to divest ownership in certain legacy investment funds and terminate relationships with funds...more

Goodwin

Financial Services Weekly News Roundup - November 2014 #2

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The SEC first proposed a study of the fiduciary obligations of brokers and investment advisers as required by the Dodd-Frank Act in July 2010. The SEC still has not made a decision about the shape of a fiduciary rule for...more

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