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Sep 19, 2024 | 
jdsupra.com | Gregory Parisi |Brenna Sheffield |James Stevens
Yesterday, both the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) finalized new guidelines regarding bank mergers. According to the agencies, these updates aim to enhance transparency and provide clearer guidance on the evaluation of merger applications under the Bank Merger Act (BMA).
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Jun 27, 2024 | 
jdsupra.com | Alexandra Steinberg Barrage |Matthew Bornfreund |Gregory Parisi
On June 24, the Office of the Comptroller of the Currency (OCC) announced it is requesting comments on proposed amendments to its recovery planning guidelines. A recovery plan’s purpose is to provide a covered bank with a framework to effectively and efficiently address the financial effects of severe stress events and avoid failure or resolution.
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May 14, 2024 | 
jdsupra.com | Alexandra Steinberg Barrage |Matthew Bornfreund |Gregory Parisi
On May 3, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency (collectively, the agencies) released a guidebook aimed at assisting community banks in managing risks associated with third-party relationships (the TPRM Guide).
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Apr 30, 2024 | 
jdsupra.com | Matthew Bornfreund |Gregory Parisi |Barbara Sicalides
There has been a great deal of press about the Federal Trade Commission’s (FTC) vote to ban employee non-competition provisions and policies; see our firm’s fuller discussion here. While the FTC describes the rule as a comprehensive ban, it acknowledges that the rule does not apply to regulated financial institutions, and nonsolicitation clauses are still permitted. Which entities are covered by the rule?
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Apr 29, 2024 | 
lexblog.com | Matthew Bornfreund |Gregory Parisi |Barbara Sicalides |James Stevens
There has been a great deal of press about the Federal Trade Commission’s (FTC) vote to ban employee non-competition provisions and policies; see our firm’s fuller discussion here. While the FTC describes the rule as a comprehensive ban, it acknowledges that the rule does not apply to regulated financial institutions, and nonsolicitation clauses are still permitted. Which entities are covered by the rule?
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Apr 3, 2024 | 
jdsupra.com | Matthew Bornfreund |Gregory Parisi |Kevin Petrasic
On March 29, a Texas federal court granted a preliminary injunction enjoining the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies) from implementing their Final Rule modernizing how they assess lenders’ compliance under the Community Reinvestment Act (CRA).
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Apr 2, 2024 | 
lexblog.com | Matthew Bornfreund |Gregory Parisi |Kevin Petrasic |Lori J. Sommerfield
On March 29, a Texas federal court granted a preliminary injunction enjoining the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies) from implementing their Final Rule modernizing how they assess lenders’ compliance under the Community Reinvestment Act (CRA).
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Mar 22, 2024 | 
jdsupra.com | Jason Langford |Gregory Parisi |Kevin Petrasic
Today, a divided Federal Deposit Insurance Corporation’s (FDIC) Board of Directors issued a proposed Statement of Policy (SOP) on bank merger transactions that would create a combined bank with more than $100 billion in assets. The proposed SOP would replace the FDIC’s current SOP on bank merger transactions and proposes a principles-based overview that describes the FDIC’s administration of its responsibilities under the Bank Merger Act (BMA).
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Mar 22, 2024 | 
lexblog.com | Gregory Parisi |Kevin Petrasic |James Stevens |Zayne Ridenhour Tweed
Today, a divided Federal Deposit Insurance Corporation’s (FDIC) Board of Directors issued a proposed Statement of Policy (SOP) on bank merger transactions that would create a combined bank with more than $100 billion in assets. The proposed SOP would replace the FDIC’s current SOP on bank merger transactions and proposes a principles-based overview that describes the FDIC’s administration of its responsibilities under the Bank Merger Act (BMA).
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Mar 14, 2024 | 
jdsupra.com | Matthew Bornfreund |Ethan G. Ostroff |Gregory Parisi
On March 12, at the Institute of International Bankers Annual Washington Conference, Acting Comptroller of the Currency Michael J. Hsu discussed the importance of operational resilience in the banking sector and hinted that potential regulations aimed to promote the same may be forthcoming.
