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WASHINGTON -- The following information was released by the U.S. Government Accountability Office (GAO): Fast Facts The Federal Deposit Insurance Corporation can protect uninsured deposits at a failed bank if [...]

On December 23, 2022, President Biden signed the 'James M. Inhofe National Defense Authorization Act for Fiscal Year 2023' which, among many other things, amended Section 19 of the Federal [...]

Chicago: Seyfarth Shaw LLP has issued the following press release: On December 23, 2022, President Biden signed the 'James M. Inhofe National Defense Authorization Act for Fiscal Year 2023' which, [...]

> On Oct. 2, 2024, the Federal Deposit Insurance Corporation (FDIC) published a notice of proposed rulemaking (Proposed Rule) designed to strengthen recordkeeping requirements for custodial deposit accounts with transactional [...]

The FDIC has approved a final rule, effective October 1, 2024, to update its Section 19 regulations to conform to the Fair Hiring in Banking Act. While the FDIC made [...]

The Federal Deposit Insurance Corporation (FDIC) has revised its regulations on Section 19 of the Federal Deposit Insurance Act to conform with the previously enacted Fair Hiring in Banking Act [...]

On August 9, 2024, the US Federal Deposit Insurance Corporation (FDIC) issued an interpretation of the exclusion of automated teller machines (ATMs) and remote service units (RSUs) from the definition [...]

On July 30, 2024, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking (NPRM) that would amend the regulatory framework used to determine whether deposits qualify as [...]

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 [...]

On July 30, 2024, the Federal Deposit Insurance Corporation (FDIC) proposed revisions to the restrictions on brokered deposits (the 'Proposal'). The Proposal is intended to strengthen the restrictions to reflect [...]

July 30 -- The Federal Deposit Insurance Corporation issued the following financial institution letter: Summary: The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a final rule that revises [...]

On June 20, 2024, the Federal Deposit Insurance Corporation (FDIC) adopted final amendments to its resolution planning requirements for FDIC-insured depository institutions (IDIs) with US$50 billion or more in total [...]

Introduction As observed with the rescue of Silicon Valley Bank (SVB) and Signature Bank, the systemic risk exception allows the Federal Deposit Insurance Corporation (FDIC) to intervene in situations where [...]

On Jan. 19, 2024, the Federal Deposit Insurance Corporation (FDIC) issued letters demanding five entities and certain associated parties cease and desist from making false and misleading statements about FDIC [...]

Oct. 24 -- The Federal Deposit Insurance Corporation issued the following financial institution letter: Summary: The Federal Deposit Insurance Corporation (FDIC) issued a proposal that would revise 12 C.F.R. part [...]

The Federal Deposit Insurance Act currently prohibits banks from employing individuals convicted of certain criminal offenses. The FDIC is proposing new rules to revise this prohibition by excluding certain offenses, [...]

On May 1, 2023, the Federal Deposit Insurance Corporation ('FDIC') seized control of First Republic Bank ('First Republic') and then, as receiver of First Republic, entered into a purchase and [...]

On March 30, federal regulators announced that Wells Fargo Bank had entered into settlements in which it agreed to pay $97.8 million in fines for enabling sanctions violations between 2010 [...]

Over the past several weeks, the markets have been roiled by banks in financial distress. Some banks have received influxes of capital, while others were taken over by regulators or [...]

On March 24, 2023, the Federal Deposit Insurance Corporation (FDIC) announced that it had issued an advisory letter ?to a United States-based neobank, demanding that the company immediately cease and [...]

It has been a chaotic 72 hours, with changing facts, breaking news and unexpected developments. The market turmoil has kept us scrambling to figure out how best to get deals [...]

Federal Authorities Invoke the Systemic Risk Exemption On March 13, 2023, Secretary of the Treasury Janet Yellen invoked the systemic risk exemption after receiving recommendations from the board of the [...]

The Federal Deposit Insurance Corporation ('FDIC') was appointed as receiver ('Receiver') for two failed banks within the last week. The Receiver subsequently transferred all deposits (both insured and uninsured) and [...]

In a press release published on Friday, March 10, 2023,1 the Federal Deposit Insurance Corporation (FDIC) announced that the California Department of Financial Protection and Innovation had, as of the [...]

It has been a chaotic 72 hours, with changing facts, breaking news and unexpected developments. The market turmoil has kept us scrambling to figure out how best to get deals [...]

A lot of ink has been spilled in the last 72 hours regarding the historic developments involving Silicon Valley Bank and Signature Bank. Our quick summary of the facts and [...]

President Biden has signed into law H.R. 7776, the 'James M. Inhofe National Defense Authorization Act for Fiscal Year 2023' ('NDAA 2023'), which, among other things, is intended to ease [...]

March 9 -- The Federal Deposit Insurance Corporation issued the following financial institution letter: Summary: On December 23, 2022, the James M. Inhofe National Defense Authorization Act for Fiscal Year [...]

WASHINGTON -- The following information was released by the Federal Deposit Insurance Corporation: Summary: On December 23, 2022, the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 [...]

Recently enacted changes to Section 19 of the Federal Deposit Insurance Act (Section 19) eased the restrictions on financial institutions when hiring individuals with criminal records, but the changes left [...]

On December 23, 2022, President Biden signed the 'James M. Inhofe National Defense Authorization Act for Fiscal Year 2023' which, among many other things, amends Section 19 of the Federal [...]

> On December 23, 2022, President Biden signed into law H.R. 7776, the 'James M. Inhofe National Defense Authorization Act for Fiscal Year 2023' (the 'NDAA 2023'). What many may [...]

The Federal Reserve Board ('FRB' or 'Board') issued two seemingly related press releases late last week. The first announced the denial of the Federal Reserve membership application by Custodia Bank, [...]

Included in the defense spending bill signed by President Biden in December 2022 is a section with key provisions for financial institutions that will ease restrictions on hiring candidates with [...]

The Federal Deposit Insurance Corporation (FDIC) today released the public sections of resolution plans of 21 large insured depository institutions due by December 1, 2022. FDIC regulations require a covered [...]

On December 13, 2022, the US Federal Deposit Insurance Corporation ('FDIC') released a notice of proposed rulemaking ('Proposal') to revise its regulations on the use of the FDIC sign and [...]

On September 8, 2022, the Board of Governors of the Federal Reserve System ('Fed') released a statement that encourages whistleblowers to report certain activities at banking organizations it regulates ('2022 [...]

1. How active is the securitisation market in your jurisdiction? What types of securitisations are typical in terms of underlying assets and receivables? The securitization market is currently very active [...]

The Federal Deposit Insurance Corporation (FDIC) today issued letters demanding five companies and their officers, directors, and employees cease and desist from making false and misleading statements about FDIC deposit [...]

In a recent series of regulatory statements and a high profile demand letter, federal banking regulators have given clear warnings to the banking and fintech industries about their customer disclosures [...]

The recent cessation of operations by some cryptocurrency exchange companies has led the Federal Deposit Insurance Company (FDIC) to increase its scrutiny of bank/digital asset partnerships, particularly of how those [...]

The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter demanding that the crypto brokerage firm Voyager Digital cease and desist from making false [...]

As more market participants, from consumers to major financial institutions and central banks of various countries, become active in the digital asset space, the U.S. regulators are ramping up their [...]

On March 25, 2022, the Federal Deposit Insurance Corporation ('FDIC') issued a Request for Information ('RFI') on the regulatory framework that applies to merger transactions involving one or more insured [...]

Marketplace lender Opportunity Financial, LLC ('OppFi') has gone on the offensive against the California Department of Financial Protection and Innovation ('DFPI') to protect its bank partnership program against challenge on [...]