News & Analysis as of August 28, 2025

Financial Services Industry

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The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships. less -

Trump issues Executive Order prohibiting ‘debanking’

Ballard Spahr LLP on 8/12/2025

President Trump has issued an Executive Order directing banking agencies to adopt policies to ensure that financial institutions do not use reputational risk as a basis for restricting access to banking services—a process...more

FDIC withdraws brokered deposits proposed rule

Ballard Spahr LLP on 3/13/2025

Saying that its proposed brokered deposits rule would have “significantly disrupted many aspects of the deposit landscape,” the FDIC has withdrawn the proposal. ...more

Treasury Secretary Bessent to Appoint Rodney E. Hood as First Deputy Comptroller of the OCC

Troutman Pepper Locke on 2/12/2025

On February 7, Secretary of the Treasury Scott Bessent announced that he will appoint Rodney E. Hood as a Deputy Comptroller and designate him as the First Deputy Comptroller of the Office of the Comptroller of the Currency...more

Banking Regulators’ Request for Information on Bank-Fintech Arrangements

Cadwalader, Wickersham & Taft LLP on 8/12/2024

On July 25, 2024, the Fed, the OCC and the FDIC (the “Banking Regulators”) released a “Request for Information on Bank-Fintech Arrangements Involving Banking Products and Services Distributed to Consumers and Businesses” (the...more

Regulators Focus on Bank-Fintech Arrangements

Alston & Bird on 8/9/2024

Through joint guidance and an information request, federal bank regulators underscored banks’ compliance responsibilities in their banking-as-a-service (BaaS) relationships with third parties. Our Financial Services Team...more

The Pendulum Swings Back: FDIC Proposes Changes to Brokered Deposits Restrictions

Mayer Brown on 8/5/2024

On July 30, 2024, the Federal Deposit Insurance Corporation (FDIC) proposed revisions to the restrictions on brokered deposits (the “Proposal”). The Proposal is intended to strengthen the restrictions to reflect the FDIC’s...more

Bank Regulators Issue Statement on Third-Party Relationships with Financial Institutions and Publish Request for Information on...

Ballard Spahr LLP on 8/1/2024

The federal banking regulators (The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation) issued on July 25 a lengthy joint statement...more

Banking Regulators Seek Comment on Third-Party Relationships with Financial Institutions

Ballard Spahr LLP on 7/31/2024

The federal banking regulators are seeking comment to better understand the relationship between financial institutions and third parties that work for them....more

Capital Idea? Risk-Based Capital, Capital Relief Trades and the Proposed Basel III Endgame Capital Rules

Cadwalader, Wickersham & Taft LLP on 8/3/2023

On July 27, 2023, the U.S. federal prudential bank regulators (the Federal Deposit Insurance Corporation, the Federal Reserve Board (“FRB”) and the Office of the Comptroller of the Currency) proposed new capital requirements...more

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

Skadden, Arps, Slate, Meagher & Flom LLP on 2/7/2023

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

Zelle Fraud Reimbursement Demands on Banks and Credit Unions

Kaufman & Canoles on 9/9/2022

Tristan v. Bank of America, N.A., Case No. 8:22-cv-1183-CDCA (June 8, 2022). There is a groundswell of litigation arising over the lack of fraud warning or bank reimbursement protection for customers utilizing the Zelle...more

Risks Associated with Cryptocurrency Activities Continue to be Top-of-Mind for Federal Banking Regulators

Moore & Van Allen PLLC on 8/29/2022

For those tracking developments impacting the crypto-asset space, the summer has been far from slow and leisurely. Multiple industry alerts flow daily with news of new legislative proposals, enforcement actions, and other...more

Federal Banking Regulators Issue New Guidance for Complying with 36 Hour Cybersecurity Incident Reporting Requirement

Polsinelli on 4/1/2022

On March 29, 2022, federal banking regulators issued important guidance for how banking organizations can comply with the upcoming requirement to notify regulators within 36 hours of ransomware or other disruptive...more

Federal banking regulators to testify at House Financial Services Committee May 19 hearing

Ballard Spahr LLP on 5/18/2021

On May 19, 2021, the House Financial Services Committee will hold a hearing, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.” The scheduled...more

Response from community groups to OCC/FDIC joint CRA proposal

Ballard Spahr LLP on 12/27/2019

While banks, community groups, and regulators all seem to agree that there is a need to reform the Community Reinvestment Act (the “CRA”), which was signed into law by Jimmy Carter back in 1977 and hasn’t received a major...more

FDIC Seeks Comment on Its Approaches to Rulemaking

Ballard Spahr LLP on 12/9/2019

The Federal Deposit Insurance Corporation (the “FDIC”) has published a request for information in the Federal Register (the “RFI”) seeking comment on approaches it uses, or is considering using, to analyze the effects of its...more

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