News & Analysis as of August 11, 2025

Financial Institutions

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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 Further Delays FDIC Insurance Sign Compliance Date for ATMs and Digital Channels

Ballard Spahr LLP on 3/6/2025

The Federal Deposit Insurance Corporation (FDIC) is further postponing the compliance date requirements to display the FDIC official digital sign on an insured depository institution’s (IDI) digital channels, as well as on...more

FDIC fines bank $650K for alleged unfair and deceptive acts

Orrick, Herrington & Sutcliffe LLP on 2/12/2025

On January 31, the FDIC publicly announced its order for a bank in Sandy, Utah, to pay a civil money penalty of $650,000 due to allegations of deceptive acts and unfair practices. ...more

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 #4

Troutman Pepper Locke on 9/26/2024

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Some US Regulators Repropose Joint Rule on Incentive-Based Compensation

Mayer Brown on 5/14/2024

On May 6, 2024, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Federal Housing Finance Agency (FHFA) and National Credit Union Administration (NCUA; collectively the...more

OCC, FRB, and FDIC Finalize Joint Principles for Climate-Related Financial Risk Management

Latham & Watkins LLP on 11/8/2023

Guidance for the largest US financial institutions is intended to promote climate risk management consistent with general safety and soundness practices. On October 30, 2023, the three US federal bank regulatory agencies...more

Promissory Notes - Banking & Finance Insights: V 3, Issue 3, March 2023

Spilman Thomas & Battle, PLLC on 4/3/2023

Now is the Time to Guard Against Reckless Banking Legislation - “Only a structural change to the way Congress acts on financial regulation will prevent future losses.” Why this is important: An old adage is that...more

Can Directors/Officers be Liable for Depositing Corporate Funds in and Borrowing from a Bank Taken Over by the FDIC?

Foley & Lardner LLP on 3/15/2023

Last week, state regulators forced Silicon Valley Bank (SVB) into receivership, and the Federal Deposit Insurance Corporation (FDIC) was appointed as receiver. SVB’s failure marks the largest receivership since Washington...more

Silicon Valley Bank Collapse: Initial Issues Raised

Morgan Lewis on 3/13/2023

The California Department of Financial Protection & Innovation on March 10 declared Silicon Valley Bank insolvent and appointed the FDIC as receiver. To help with the resolution of SVB, the FDIC created the Deposit Insurance...more

Proposed FDIC Rule Would Impose Additional Deposit Insurance Disclosure Obligations on Banks and Non-Banks

Seward & Kissel LLP on 1/19/2023

The Federal Deposit Insurance Corporation (“FDIC”) published for comment in December 2022 a notice of proposed rulemaking (12 CFR Part 328) (“Proposed Rule”) that would apply to all FDIC-insured institutions and impose new...more

CFPB Launches New Initiative Focused on Rural Communities

Goodwin on 3/18/2022

In This Issue. The Consumer Financial Protection Bureau (CFPB) announced a new initiative focused on financial issues faced by rural communities and also updated its examination procedures to cover unfair discrimination; the...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

OCC Seeks Feedback on Principles for Climate-Related Financial Risk Management

Goodwin on 1/7/2022

In this Issue. The Office of the Comptroller of the Currency (OCC) is seeking feedback on principles for climate-related financial risk management for large banks; the Department of Justice’s Antitrust Division is seeking...more

CFPB To Revisit Trump-Era QM Final Rules

Goodwin on 2/26/2021

In this Issue. The Consumer Financial Protection Bureau (CFPB) issued a statement announcing its intention to revisit Trump-era qualified mortgage (QM) final rules; the Biden Administration announced changes to the Small...more

SEC Adopts Broad Exempt Offering Reforms

Goodwin on 11/5/2020

In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more

Financial Services Weekly Roundup: The Supreme Court Strikes Back On Single Director Leadership Structures

Goodwin on 7/6/2020

In This Issue. The U.S. Supreme Court struck down the single director leadership structure of the Consumer Financial Protection Bureau (CFPB) in a ruling that could have far-reaching implications for the CFPB and other...more

Financial Services Weekly News: Financial Regulators Respond To Coronavirus Outbreak

Goodwin on 3/12/2020

In This Issue. The ongoing global outbreak of the coronavirus (COVID-19) continues to grow in scale and scope, creating public health and humanitarian challenges worldwide. Global economies are also being impacted. Federal...more

Financial Services Weekly News: FDIC Releases Guide To Connect Fintechs With Banks

Goodwin on 2/27/2020

In This Issue. The Federal Deposit Insurance Corporation (FDIC) released a new guide to help financial technology companies and others partner with banks; the Financial Industry Regulatory Authority (FINRA) announced that it...more

Nutter Bank Report: June 2019

Nutter McClennen & Fish LLP on 6/27/2019

Federal Banking Agencies Expand Eligibility to Use Streamlined Call Reports - The federal banking agencies have adopted a final rule to reduce regulatory reporting requirements for certain banks with total assets of less...more

Financial Services Weekly News: Preparing for ‘Hard Brexit’

Goodwin on 3/21/2019

Editor's Note - In This Issue. The U.S. Securities and Exchange Commission’s (SEC) Division of Investment Management staff announced plans to seek industry input on custodial practices relating to trading that is not...more

Bringing a Level of Clarity to the Interagency Biographical and Financial Report

Vedder Price on 7/27/2018

On July 11, 2018, the Office of the Comptroller of the Currency (“OCC”), the Federal Deposit Insurance Corporation (“FDIC”) and the Board of Governors of the Federal Reserve System (“FRB”) (the OCC, FRB and FDIC are...more

US House of Representatives Approves the Financial Choice Act

Herbert Smith Freehills Kramer on 6/13/2017

On June 8, the U.S. House of Representatives voted to approve the Financial CHOICE Act (FCA) primarily along party lines, 233-186. The FCA was introduced by Rep. Jeb Hensarling of Texas, and co-sponsored by 40 of his...more

CFPB’s Prepaid Card Rule: Short Form Disclosure Requirements

Ballard Spahr LLP on 11/28/2016

The CFPB’s Final Rule on prepaid cards includes, in addition to the long form disclosure requirements discussed in our November 21st blog post, highly detailed requirements for providing “preacquisition” disclosures to...more

CFPB’s Final Prepaid Card Rule: Long Form Disclosures

Ballard Spahr LLP on 11/21/2016

The final Prepaid Card Rule requires not only so-called “packaging” or short form disclosures prior to acquisition of the prepaid card account, but also that a long form disclosure be provided to the consumer. Whereas the...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 10/28/2016

Financial Industry Developments - Agencies Issue Advanced Notice of Proposed Rulemaking on Enhanced Cyber Risk Management Standards - On October 19, 2016, the Federal Reserve Board, the Federal Deposit Insurance...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 10/14/2016

Financial Industry Developments - The CFPB Publishes Final Rule for Prepaid Accounts - On October 5, 2016, the Consumer Financial Protection Bureau (the "CFPB") finalized comprehensive consumer protections for...more

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