News & Analysis as of August 28, 2025

Broker-Dealer

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brokered deposits rule would have “significantly disrupted many aspects of the deposit landscape,” the FDIC has withdrawn the proposal.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

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

Troutman Pepper Locke on 8/30/2024

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

Brokered Deposits Rule Threatens to Upend Bank Balance Sheets

Troutman Pepper Locke on 8/26/2024

“In the worst case, these [newly designated brokered deposits] will have to get offloaded in a way that potentially puts those banks at even greater liquidity risk, especially to the extent that they have a higher...more

FDIC Rethinks Brokered Deposits, Again

Venable LLP on 8/12/2024

The FDIC recently proposed a rule that would substantially change the 2020 final rule on brokered deposits that largely liberalized the FDIC’s framework. The proposed rule would eliminate many of the changes from 2020 and...more

Regulatory Redux: FDIC Proposes Brokered Deposit Revisions

Mayer Brown on 8/7/2024

On July 30, 2024, the FDIC proposed revisions to the restrictions on brokered deposits. The revisions would undo many of the key elements of the 2020 revisions, and would dramatically expand the number of deposit brokers and...more

Turning Back the Clock: FDIC Proposes Significant Changes to 2020 Brokered Deposit Rule

Troutman Pepper Locke on 8/5/2024

On July 30, 2024, the FDIC proposed substantive changes to the 2020 Brokered Deposit Rule (2020 Rule) that, if finalized, could meaningfully impact a wide group of bank and nonbank stakeholders who rely on the current rule’s...more

FDIC Proposes Overhaul to Brokered Deposit Classification Rules; Significant Impact to Banking as a Service (BaaS) Industry

Goodwin on 8/5/2024

On July 30, 2024, the Federal Deposit Insurance Corporation (FDIC) issued a proposed rule that would make significant revisions to the FDIC’s regulations implementing the provisions of Section 29 of the Federal Deposit...more

FDIC Proposes Revisions to Broker Deposits Rule

Ballard Spahr LLP on 8/2/2024

The FDIC board on July 30 approved a notice of proposed rulemaking intended to strengthen the prudential protections of the agency’s safety and soundness rule for brokered deposits (12 CFR 337.6)....more

Blockchain+ Bi-Weekly: July 2024

Polsinelli on 7/12/2024

The last week of June saw a flurry of legal developments in quick succession. The SEC sued Consensys, the developers of the largest self-custodial digital wallet (MetaMask). The IRS released its digital asset tax rules. The...more

Financial Institution Diversity Voluntary Self-Assessments: Due September 30

Goodwin on 7/21/2023

Financial Institution Diversity Voluntary Self-Assessments: Due September 30 - On July 13, the FDIC issued a financial institution letter announcing that FDIC-supervised financial institutions are encouraged to...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

FDIC Adopts Rule Prohibiting Misleading Statements About FDIC Insurance that Impacts a Broad Range of Deposit Placement...

Seward & Kissel LLP on 6/16/2022

Introduction - On May 17, 2022, the Board of Directors of the Federal Deposit Insurance Corporation (“FDIC”) adopted a final rule (“Rule”) setting forth its procedures for investigating and enforcing false advertising,...more

President Biden Signs Executive Order Banning New Investments in Russia

Goodwin on 4/15/2022

In This Issue. President Biden issued an executive order banning new investments in Russia in response to Russia’s continued war against Ukraine; the Federal Deposit Insurance Corporation (FDIC) issued a notification to all...more

FDIC Requests Comments to Draft Principles for Climate-Related Financial Risk Management

Goodwin on 4/8/2022

In This Issue. The Federal Deposit Insurance Corporation (FDIC) requested comments to draft principles for climate-related financial risk management; the U.S. Securities and Exchange Commission (SEC) published its 2022 exam...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

Agencies Launch Digital Identity Tech Sprint

Goodwin on 1/17/2022

In This Issue. The Federal Deposit Insurance Corporation (FDIC), the FDIC Tech Lab (FDITECH) and the Financial Crimes Enforcement Network (FinCEN) launched a digital identity Tech Sprint; FinCEN published a 60-day notice to...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

SEC Finalizes Reforms Under Investment Advisers Act

Goodwin on 1/7/2021

In this Issue. The Securities and Exchange Commission (SEC) finalized reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors, and published a risk...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 Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on 6/26/2020

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...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

Review of Anti-Money Laundering and Sanctions Policy and Enforcement

White & Case LLP on 1/22/2019

TABLE OF CONTENTS: Executive Summary - Developments and Trends in Policy and Enforcement - US Department of the Treasury - The Office of Foreign Assets Control - Treasury's Financial Crimes Enforcement Network -...more

Financial Services Weekly News - July 2016

Goodwin on 7/7/2016

Regulatory Developments - NY DFS Adopts Final Anti-Terrorism Program Regulation - On June 30, New York’s Department of Financial Services (DFS) adopted a risk-based anti-terrorism and anti-money laundering...more

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