Following the Supreme Court’s decision in Loper Bright Enters. v. Raimondo , 2024 U.S. LEXIS 2882 (2024) , which effectively overturned Chevron, U.S.A., Inc. v. NRDC, Inc. , 467 U.S. 837 (1984) , financial regulators stand poised to defend a range of rules...
The Bank Service Company Act (BSCA), enacted in response to the technological and expertise challenges faced by banks during the 1960s, permits banks to acquire and utilize bank service companies. The BSCA also authorizes U.S. banking agencies to examine and regulate...
The Federal Deposit Insurance Corporation (FDIC) issued new rules which expand resolution-planning requirements to strengthen regulatory oversight of large banking organizations. The requirements apply to any insured depository institution with $100 billion or...
LexisNexis® offers the highly regarded Lexology Panoramic international guides for practitioners. Review questions and answers from leading law firms on topics ranging from frequent causes of action brought against banks and other financial services providers...
The European Council recently adopted new anti-money-laundering rules. The rules create a new EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CTF), with direct and indirect supervisory authority over high-risk obliged entities...
Financial Crimes Enforcement Network (FinCEN) issued an advisory to banks raising concerns about potential money laundering and terrorist financing activities associated with the Islamic Republic of Iran-backed terrorist organizations. The advisory is intended...
Crypto-related activity continues to be a focal point in legislative efforts at both the federal and state levels. State agencies, exemplified by New York financial regulators, are leading the charge by clearly articulating their expectations for the use of virtual...
Recent interagency guidance provides a framework for the risk management of climate-related financial risks for large financial institutions with over $100 billion in total consolidated assets. Practical Guidance developed this checklist to aid institutions and...
Republic Bank's failure in 2024 followed closely on the heels of the bank failures of Silicon Valley and First Republic Bank in 2023. Recent legislation (proposed and final) seek to address risks related to elevated interest rates, management, credit, and liquidity...
Following high-profile bank failures that reverberated through the banking industry in 2023, bank mergers and acquisitions (M&A) continue to be a focal point in 2024. Institutions looking to acquire or merge with a banking institution must obtain regulatory...
The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) have authority to enforce the Fair Debt Collection Practices Act (FDCPA) and take action against any debt collector who fails to comply with the FDCPA. While financial institutions...
According to a recent Compliance Bulletin issued by the Consumer Financial Protection Bureau (CFPB), examinations of lenders and loan servicers have uncovered violations of the unfair, deceptive, or abusive acts or practices (UDAAP), as defined under the Dodd-Frank...
Following the 2023 bank failures, bank regulators continue to scrutinize the regulatory compliance of financial technology (fintech) companies, particularly those companies partnering with banks in the payments space. Federal banking agencies have broad supervisory...
The privacy landscape is changing for financial institutions as more states pass laws to protect consumer personal information and data. State privacy laws seek to mandate how financial institutions obtain and share consumer data. Explore this personal data state...