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Guidance Update Banking Sector Financial Institutions

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2025

The Federal Reserve has announced that the agency will no longer assess reputational risk when examining banks’ risk management processes. According to the June 23 announcement, the Federal Reserve has already begun reviewing...more

ArentFox Schiff

Potential Approaching Storm in Commercial Real Estate: Recent Updating of Great Recession Guidance

ArentFox Schiff on

Nearly 14 years ago, guidance was provided by federal regulators to facilitate commercial real estate loan work-outs. Rather than ‘extend & pretend,’ regulators had encouraged, and are encouraging, banks to work with...more

White & Case LLP

The Wolfsberg Group's Updated Anti-Corruption Guidance – The New Global Threshold?

White & Case LLP on

On April 17, 2023, the Wolfsberg Group (the "Group") issued updated guidelines for financial institutions ("FI") relating to Anti-Bribery and Corruption ("ABC") Compliance Programs. Although the guidance is not binding, it...more

Perkins Coie

Fintech Legal Report - August 2021

Perkins Coie on

Senators Inquire about CFPB’s Fintech Agenda - On July 27, 2021, Senator Sherrod Brown, the Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to the Consumer Financial Protection...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2021

HUD, VA, and USDA Coordinate Extensions of COVID-19 Relief for Homeowners - The U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture...more

Goodwin

SEC Issues No-Action Relief On Registered Funds’ Custody Of Loan Interests

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more

Jones Day

Australian Financial Services Regulatory Update - September 2020

Jones Day on

This edition of the Update addresses: 1. Recent legal and regulatory developments which relate to licencing and regulatory relief, consumer protection, financial markets, anti-money laundering and capital and prudential...more

BCLP

FinCEN Clarifies Customer Due Diligence Requirements

BCLP on

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department recently issued clarifications of requirements for Customer Due Diligence (CDD) under the Customer Due Diligence Requirements for Financial...more

Sheppard Mullin Richter & Hampton LLP

Clearing the Air: FinCEN Guidance May Help Banks Find Their Way in the Field of Hemp Financing

On June 29, 2020, the Financial Crimes Enforcement Network (FinCEN) published updated guidance intended to “enhance the availability of financial services” for the hemp industry (the Guidance). Even though the Agriculture...more

Ballard Spahr LLP

OCC Updates Examiner Guidance on “Deposit-Related Credit”

Ballard Spahr LLP on

On September 12, 2018, the Office of the Comptroller of the Currency (the “OCC“) released its first update to the “Deposit-Related Credit” booklet of the Comptroller’s Handbook (the “DRC Booklet“) since its March 2015...more

Ruder Ware

OCC Updates Guidance on Business Combinations

Ruder Ware on

The Office of the Comptroller of the Currency (“OCC”) has recently updated its “Business Combinations” booklet, which is part of the Comptroller’s Licensing Manual. The revised booklet replaces the prior version, which was...more

Ballard Spahr LLP

Transitional period and initial supervisory practice over TRID

Ballard Spahr LLP on

The CFPB sent industry trade groups a letter on October 1, 2015 to address the approach of the Federal Financial Institutions Examination Council (FFIEC) member agencies during the initial months following the implementation...more

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