Barbara R. Mendelson

Feb 8, 2024 | jdsupra.com | Henry Fields |Jiang Liu |Barbara R. Mendelson

On January 29, 2024, the OCC issued a proposed policy statement[1] describing the general principles it uses to evaluate applications for approval of transactions under the Bank Merger Act (“BMA”), principally bank mergers, consolidations, and deposit assumptions (“Business Combinations”).

Sep 26, 2023 | lexology.com | Deborah Connor |Barbara R. Mendelson |Marc-Alain Galeazzi |Gerardo Galvis |Elizabeth Shaw

On September 15, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) announced its first “Gap Rule” enforcement action in a Consent Order with Bancrédito International Bank and Trust Corporation (“Bancrédito”), a Puerto Rican international banking entity (IBE).

Sep 6, 2023 | lexblog.com | Henry Fields |Jiang Liu |Jeremy Mandell |Barbara R. Mendelson

On July 27, the three federal banking agencies (the Agencies)[1] jointly proposed changes to the regulatory capital framework applicable to large banks and bank holding companies (the Proposal). The Proposal is the U.S. adaptation of the 2017 revisions to the Basel III capital regime promulgated by the Basel Committee on Banking Supervision. The 2017 revisions are commonly referred to as the Basel III Endgame.

Aug 17, 2023 | mondaq.com | Henry Fields |Jiang Liu |Jeremy Mandell |Barbara R. Mendelson

On July 27, the three federal banking agencies (the Agencies)1 jointly proposed changes to the regulatory capital framework applicable to large banks and bank holding companies (the Proposal). The Proposal is the U.S. adaptation of the 2017 revisions to the Basel III capital regime promulgated by the Basel Committee on Banking Supervision. The 2017 revisions are commonly referred to as the Basel III Endgame.

Aug 14, 2023 | mondaq.com | Marc-Alain Galeazzi |Deborah Connor |Kelley A. Howes |Barbara R. Mendelson

On July 31, 2023, the Securities and Exchange Commission's (SEC) Division of Examinations (EXAMS) issued a risk alert summarizing observations from its recent anti-money laundering (AML) and counter-financing of terrorism (CFT) compliance exams of broker-dealers. This is the second risk alert related to AML compliance to be issued by the EXAMS staff in recent years.1 These alerts reinforce the SEC's stated commitment to prioritizing AML/CFT compliance by broker-dealers.