News & Analysis as of August 10, 2025

Banks

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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 -

Federal Agencies Release Guidance on Crypto-Asset Safekeeping for Banks

Troutman Pepper Locke on 7/17/2025

On July 14, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (the Board), and the Federal Deposit Insurance Corporation (FDIC) jointly issued a statement addressing the...more

FDIC agrees to settle with CEO and board members after District Court dismissal

Orrick, Herrington & Sutcliffe LLP on 12/15/2023

On December 7, the U.S. District Court for the Eastern District of Louisiana dismissed a lawsuit brought by the FDIC against the chairman, president and CEO and board members of a state-chartered Louisiana bank after the...more

FDIC releases July enforcement actions, including breaches of fiduciary duty and FDPA violations

Orrick, Herrington & Sutcliffe LLP on 9/5/2023

On August 25, the FDIC announced a list of administrative enforcement actions taken against banks and individuals in July. The 10 orders include “two orders that combined a prohibition order and order to pay CMP; one combined...more

What Should Mid-Market Companies Do To Protect Deposits During the Current Bank Liquidity Crunch?

Davidoff Hutcher & Citron LLP on 6/2/2023

Breaking Up Is Hard To Do - In the wake of the collapse of Silicon Valley Bank and Signature Bank, every chief executive officer of a mid-market privately held company had the same two questions this morning: what banks hold...more

Understanding the Newly Proposed Credit Fund Exclusion Under the Volcker Rule

Herbert Smith Freehills Kramer on 2/12/2020

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

Governor Signs Bill Authorizing Public Banks - What Could Possibly Go Wrong?

Allen Matkins on 10/3/2019

Yesterday, Governor Gavin Newsom signed AB 857 into law. The bill authorizes local agencies to establish so-called "public banks", subject to approval by the Department of Business Oversight and Federal Deposit Insurance...more

Directors Fail To Escape Liability For Approving Dividend

Allen Matkins on 2/12/2018

I last wrote about FDIC v. Ching, 2014 U.S. Dist. LEXIS 92687 (E.D. Cal. July 8, 2014) in July of 2014. That post concerned Judge Kimberly J. Mueller's ruling that California's statutory restrictions on distributions to...more

Financial Services Weekly News - April 2017 #2

Goodwin on 4/12/2017

Editor's Note - Removal for Cause or Business as Usual? On April 5, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray testified before the House Financial Services Committee to give his semi-annual...more

Covered Funds Aspects of the Volcker Rule – Frequently Asked Questions

Goodwin on 12/20/2013

The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission (the "SEC") issued a final rule, and the Commodity Futures...more

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