News & Analysis as of August 22, 2025

Civil Monetary Penalty

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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 -

FDIC orders state bank to pay $1.375B

Orrick, Herrington & Sutcliffe LLP on 4/28/2025

On April 18, the FDIC announced that it amended its 2023 consent order against an insured state nonmember bank, as well as issued a new order for restitution and order to pay, concluding the bank recklessly engaged in unsafe...more

Agencies adjust civil money penalties for 2024

Orrick, Herrington & Sutcliffe LLP on 1/15/2024

Recently, the CFPB, NCUA, FDIC, FTC, and OCC provided notice in the Federal Register of adjustments to the maximum civil money penalties due to inflation pursuant to the Federal Civil Penalties Inflation Adjustment Act of...more

FDIC Settles with Bank for Repeat RESPA Violations, Doubling Previous Fine

Sheppard Mullin Richter & Hampton LLP on 2/13/2023

The FDIC recently announced a consent order with an Oregon regional bank for violations of Section 8 of RESPA, the FTC Act, and the FRCA, resulting in a civil monetary penalty totaling $425,000. After conducting its...more

FinCEN Proposes Rule for SARs Sharing Pilot Program

Goodwin on 1/28/2022

In This Issue. The Financial Crimes Enforcement Network (FinCEN) issued a proposed rule about the establishment of a limited-duration pilot program for sharing suspicious activity reports (SARs); FinCEN published the final...more

Lender Settles Allegations It Financed Loans With Deposits Collected From Consumers Using False Promises Of Guaranteed High...

Cozen O'Connor on 6/4/2021

The Consumer Financial Protection Bureau (“CFPB”) reached a settlement with financial company Driver Loan, LLC and its Chief Operating Officer (collectively “Driver Loan”) to resolve allegations that it misled consumers with...more

SEC Adopts Rule Providing New Regulatory Framework For Fund-Of-Funds

Goodwin on 10/22/2020

In the News. The Securities and Exchange Commission (SEC) announced that it adopted Rule 12d1-4 under the Investment Company Act of 1940 (the 1940 Act), providing a new regulatory framework for fund-of-funds and final...more

FDIC announces settlement with bank and non-bank affiliated parties

Ballard Spahr LLP on 5/16/2017

The FDIC announced last week that it had entered into settlements with Bank of Lake Mills and two non-bank “institution-affiliated parties” through which the bank originated loans for allegedly engaging in unfair and...more

Financial Services Report, Fall 2016

Morrison & Foerster LLP on 9/21/2016

Editor’s Note - So much for summer! The weather is cooling, the kids are back to school, and we better not see you wearing white so long after Labor Day! For those of you having a little trouble getting back in the...more

Deposit Processing Is Subject of New UDAAP Enforcement

MoFo Reenforcement on 8/14/2015

The CFPB, OCC and FDIC (“the regulators”) took action on August 12, 2015 against three banks in the Citizens Bank corporate family, resulting in $11 million in required restitution and a total of $20.5 million in federal...more

Individual Liability: What’s Behind The Headlines?

Morrison & Foerster LLP on 7/15/2014

It’s been open season on financial institutions since the 2008-2009 financial crisis (“Financial Crisis”). State and federal prosecutors and regulators are competing with each other for press coverage of their latest consent...more

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Federal Deposit Insurance Corporation › Consumer Financial Protection Bureau (CFPB) › Civil Monetary Penalty

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