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Goodwin

Benefits of Operating Through a Bank Charter and Charter Choice Considerations

Goodwin on

This is the first in a series of articles in our "So, You Want to Be a Bank?" series. More than 1,000 new banks were formed in the eight years before the Great Recession began in 2008. In comparison, the past 15 years...more

Alston & Bird

CFPB Finalizes Open Banking Rule on Consumer Financial Data Rights

Alston & Bird on

Our Financial Services Group unpacks the Consumer Financial Protection Bureau’s final rule on consumer financial data rights under Section 1033 of the Dodd–Frank Act....more

McGlinchey Stafford

Podcast: Deep Dive into Depository Services in Bank Partnerships [More with McGlinchey, Ep. 75]

McGlinchey Stafford on

The next installment in McGlinchey’s Deep Dive into Bank Partnerships Series features an overview of depository services, featuring insights from our attorneys Rachael Aspery, Brian Fink, and Aaron Kouhoupt. They explore key...more

Jones Day

FDIC Proposes New Requirements for Custodial Accounts to Qualify for Pass-Through

Jones Day on

The Situation: On September 17, 2024, the Federal Deposit Insurance Corporation ("FDIC") approved a proposed rule ("the Proposal") that would establish new recordkeeping requirements for FDIC-insured depository institutions...more

Cadwalader, Wickersham & Taft LLP

The FDIC’s Proposed “Synapse” Rule Affects Deposit Accounts Opened by Fintech Custodians

Cadwalader, Wickersham & Taft LLP on

On September 17th, the Federal Deposit Insurance Corporation ("FDIC") issued a proposed rule entitled “Recordkeeping for Custodial Accounts” with comments due sixty days from the date of publication in the Federal Register...more

Venable LLP

Custody Battles: The FDIC's Latest Proposed Rule on FBO Accounts

Venable LLP on

The FDIC has issued a proposed rule that would apply to practically all bank-fintech arrangements that use custodial deposit accounts to provide customers with transactional features (also called "FBO" accounts for short)....more

Venable LLP

New Year, New Signs - FDIC Amends Deposit Insurance Sign and Advertising Regulations

Venable LLP on

After an intense 2023 rulemaking, supervisory, and enforcement cycle for the federal banking agencies, the FDIC issued a final rule on FDIC official signs and advertising requirements right before the new year. The rule comes...more

Hogan Lovells

Learning from Silicon Valley Bank - Never let a good crisis go to waste – so how could you use recent events in California to take...

Hogan Lovells on

Many lessons will be learned from the failure of Silicon Valley Bank last weekend. The full story is unlikely to emerge for some time, but commentators have quickly reached a consensus on the likely causes. The central...more

White & Case LLP

NYDFS Requires LIBOR Transition Plans by Early February

White & Case LLP on

On December 23, 2019, the New York Department of Financial Services (NYDFS) issued an Industry Letter instructing each institution it regulates, including banks and licensed Fintechs, to make submissions describing the...more

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