Popular, Banks, Federal Reserve

Executive Order Briefing: Guaranteeing Fair Banking for All Americans

Holland & Knight LLP on 8/15/2025

President Donald Trump on Aug. 7, 2025, signed an executive order (EO or order) titled "Guaranteeing Fair Banking for All Americans," which declares that no American should be denied access to financial services based on...more

Fed Follows Earlier OCC, FDIC, and NCUA Orders Allowing Banks to Collect TIN Information from Third Parties

King & Spalding on 8/11/2025

On July 31, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an exemptive order in coordination with the Board of Governors of the Federal Reserve System (the “Fed”) that allows...more

The GENIUS Act is Signed into Law: What Banks Need to Know about Payment Stablecoins

Nutter McClennen & Fish LLP on 7/21/2025

On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”), after it passed both the U.S. Senate by a vote of 68-30 and the U.S. House in a...more

Banking on Crypto: Regulators Clarify Rules for Digital Asset Safekeeping

Jones Day on 7/16/2025

Federal banking regulators continue to promote a more "crypto-positive" regulatory environment through recent joint guidance issued to clarify risk management and compliance expectations for banks providing crypto-asset...more

Navigating the Future of Stablecoins: Highlights from the Proposed GENIUS Act

Wilson Sonsini Goodrich & Rosati on 6/25/2025

On June 17, 2025, the U.S. Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. If enacted, the bill would establish a comprehensive federal regulatory framework for stablecoins...more

Focus on Fintech – Q3 2024

Wilson Sonsini Goodrich & Rosati on 12/17/2024

In this issue of Wilson Sonsini's Focus on Fintech, our attorneys discuss updates and developments from federal regulators, including those related to bank-fintech partnerships, cryptocurrency and virtual currency updates,...more

National Trust Banks – Revisited for Crypto and Payments

Davis Wright Tremaine LLP on 11/25/2024

In the absence of modern charters and licenses, payments companies and other fintechs—both established financial services providers and new market entrants—must generally obtain 50+ money transmitter and possibly other state...more

Fed Issues Cease and Desist Order for Crypto-Related Compliance and Risk Management Deficiencies

Sheppard Mullin Richter & Hampton LLP on 9/9/2024

On September 4, the Federal Reserve Board (Fed) released enforcement actions against a Texas-based bank, addressing regulatory violations and compliance lapses. The Fed, joined by the Texas Department of Banking (TDB),...more

Why the Capital One-Discover Merger Makes Sense

Mogin Law LLP on 8/5/2024

When federal agencies review bank mergers, the competition issues typically relate to the number and location of physical branches and the extent of any overlap in the areas served. By contrast, the proposed $35 billion...more

TD Bank Eats $225 Million Termination Fee After AML Failures Doom Merger

The Volkov Law Group on 5/25/2023

How much is an effective Anti-Money Laundering (“AML”) Compliance Program Worth? For Toronto-Dominion Bank (“TD”), the answer is at least $225 million––the amount that TD must now pay to First Horizon Bank, after backing...more

The Regulatory Post-Mortem Reports on Silicon Valley Bank and Signature Bank

A&O Shearman on 5/3/2023

The Federal Reserve released a detailed report on the supervision and regulation of the former Silicon Valley Bank (SVB). The report, released along with a trove of confidential supervisory information pertaining to SVB,...more

Fed to launch FedNow in July

Orrick, Herrington & Sutcliffe LLP on 3/27/2023

On March 15, the Federal Reserve Board announced a July launch date for its FedNow Service. Beginning the first week of April, the Fed will start formally certifying participants...more

Demystifying the Banking Regulators’ Recent Crypto Actions: Key Takeaways for Fintech Companies

Wilson Sonsini Goodrich & Rosati on 2/7/2023

The last few years had started to see a convergence between crypto and banking, with bitcoin appearing to rapidly grow mainstream. That momentum hit a wall with the spectacular crypto market failures of 2022, including the...more

Fed Imposes New Roadblock on Banks’ Crypto Activities

A&O Shearman on 8/18/2022

Today, the Fed announced a new procedural requirement for banks seeking to engage in crypto activities. Going forward, a bank must provide formal notice to its lead supervisory contact at the Fed “prior to engaging in any...more

Federal banking agencies Issue “Crypto Asset Roadmap” for 2022 guidance; OCC confirms prior interpretive letters on crypto (but...

Ballard Spahr LLP on 11/30/2021

The Federal Reserve Board, FDIC, and OCC (collectively, the “Agencies”) issued on November 23 a short Joint Statement on Crypto-Asset Policy Sprint Initiative and Next Steps (“Joint Statement”), which announced – without...more

Federal Reserve Board Order of Prohibition Sends Message to Departing Bank Executives That ‎Actions to Poach Former Employer Data,...

Troutman Pepper Locke on 4/2/2021

The Federal Reserve Board recently issued a final decision In the Matter of: Frank Smith and Mark Kiolbasa, Institution Affiliated Parties of Farmers State Bank, Docket No. 18-036-E-1. The decision creates a significant...more

Citigroup Fined $400 Million by Banking Regulators for Risk and Compliance Control Deficiencies

The Volkov Law Group on 12/1/2020

Banking regulators, the Office of Comptroller of the Currency and the Federal Reserve, recently collected a $400 million civil penalty against Citigroup for long-standing deficiencies in its enterprise risk management,...more

Corporate & Financial Weekly Digest, Featuring Articles on New Position Limits Requirements and Amended Margin Requirements From...

Katten Muchin Rosenman LLP on 10/19/2020

CFTC - CFTC Adopts New Position Limits Requirements - On October 15, the Commodity Futures Trading Commission adopted new rules on position limits. As described in greater detail in Katten’s advisory, CFTC Adopts New...more

Financial Daily Dose 2.11.2020 | Top Story: DOJ Indicts Four from Chinese Army Over 2017 Equifax Cyberattack

Robins Kaplan LLP on 2/11/2020

-The DOJ has announced charges against four members of China’s military related to the 2017 cyberattack on credit-reporting agency Equifax, the breach that revealed “trade secrets and the personal data of about 145 million...more

Financial Daily Dose 2.5.2020 | Top Story: Amazon Joins Trillion-Dollar Market Cap Club

Robins Kaplan LLP on 2/5/2020

Amazon closed out the trading day yesterday as an official member of the $1 trillion club for the first time. Because Jeff really needed a win, folks. The company joins Microsoft, Alphabet, and Apple in that rarified...more

Financial Daily Dose 12.18.2019 | Top Story: Fiat Chrysler and Peugeot Boards Agree to $50 Billion Merger

Robins Kaplan LLP on 12/18/2019

Fiat Chrysler and rival Peugeot have agreed to binding merger terms that, if approved by US and European regulators, would create a “$50 billion auto giant that would rank among the world’s largest car companies by sales”....more

OCC and FDIC Ease “Volcker Rule” Restrictions on Proprietary Trading: SEC, CFTC, and Federal Reserve Expected to Follow Suit

K&L Gates LLP on 8/30/2019

On August 20, 2019, the Board of Directors of the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency (“OCC”) approved amendments to regulations implementing Section 13 of the Bank...more

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