On November 30, 2018, the Federal Reserve requested comments on a new application form—the FR LL-10(e)—for savings and loan holding companies (“SLHCs”). The new form would replace Form H-(e), which was inherited from the Office of Thrift Supervision when the Dodd-Frank Wall Street Reform and Consumer Protection Act transferred supervisory authority for SHLCs
licensing
CSBS Announces Multi-State Compact to Standardize Money Transmitter Licensing
On February 6, 2018, the Conference of State Bank Supervisors (“CSBS”) – the nationwide organization representing banking regulators from all 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands – announced that seven states have agreed to a compact that standardizes five major areas of the licensing process for money…
FDIC Issues Draft Handbook for De Novo Bank Organizers
By Mike Nonaka on
Posted in Regulatory Agencies
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…