Tag Archives: FDIC

Trump Directs Treasury to Review Dodd-Frank Orderly Liquidation Authority and FSOC Processes

On Friday, April 21, President Donald Trump signed two presidential memoranda, directing the Secretary of the Treasury (the “Secretary”), Steve Mnuchin, to review two major provisions of the Dodd-Frank Act: orderly liquidation authority (“OLA”) for financial companies under Title II, and the decision-making processes of the Financial Stability Oversight Council (“FSOC”). Consistent with the Trump … Continue Reading

FDIC Vice Chairman Hoenig’s Proposal for Regulation of Financial Holding Companies

As has been widely reported, FDIC Vice Chairman Thomas Hoenig put forward in remarks to the Institute of International Bankers on Monday, March 13, a “Market-Based Proposal for Regulatory Relief and Accountability” (the “Hoenig Proposal” or the “Proposal”).  If adopted, the Hoenig Proposal would substantially change the regulation of large and complex banking organizations doing … Continue Reading

FDIC Issues Draft Handbook for De Novo Bank Organizers

Last Thursday, the FDIC issued a draft handbook for organizers of de novo insured depository institutions.  The handbook provides an explanation of the process for submitting an application to the FDIC in order to offer FDIC-insured deposit products.  The handbook is relevant for any person or company that is interested in a bank charter and proposing to accept … Continue Reading

OCC Finalizes Receivership Rule for Uninsured National Banks

On December 20, 2016, the Office of the Comptroller of the Currency (“OCC”) released a final rule addressing the receivership of national banks that are not insured by the Federal Deposit Insurance Corporation (“FDIC”) and therefore are not subject to receivership by the FDIC under the Federal Deposit Insurance Act (“FDIA”).  While all 52 existing … Continue Reading

House Freedom Caucus Takes Aim at Financial Regulations

On December 14, 2016, House Freedom Caucus Chairman Mark Meadows released a special report (the “Report”) detailing over 200 rules, regulations, and executive orders the Caucus recommends that President-Elect Donald Trump should examine, revoke, or issue in his first 100 days in office. The report targets for repeal a diverse set of regulations finalized or … Continue Reading

FDIC Approves Extended Exam Cycles for Small Banks

Yesterday, the Federal banking agencies issued final rules that permanently extend the examination cycle, from 12 months to 18 months, for well-capitalized and well-managed banks, savings associations, and Federal agencies and branches of foreign banks with less than $1.0 billion in total assets. The final rules, which implement a Congressional mandate under a 2015 statute, … Continue Reading

Post-Election Outlook for Financial Regulatory Agencies: Federal Deposit Insurance Corporation

The election of Donald J. Trump as President, along with continued Republican control of the Senate and House of Representatives, promises to bring change to the Federal Deposit Insurance Corporation (“FDIC”).  The transition at the FDIC should be gradual due to the structure of the agency’s board of directors.  The five-person board consists of three … Continue Reading

Federal Banking Agencies Request Comment on Enhanced Cybersecurity Standards

On October 19, 2016, the Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation released a joint Advance Notice of Proposed Rulemaking (ANPR) requesting public comment on enhanced cybersecurity standards that would apply to certain large, interconnected financial entities as well as the third … Continue Reading
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