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Posted Date: Tuesday, April 16, 2024
The Office of the Comptroller of the Currency has extended the comment period for its proposed rules and policy statement on bank mergers and acquisitions. The agency announced commenters will have until June 15 to weigh in. Read on »
Posted Date: Tuesday, April 9, 2024
The legal battle over modernized Community Reinvestment Act requirements has culminated in a preliminary injunction in federal court. Dodd Frank Update spoke with Garris Horn PLLC Co-Managing Partner Richard Horn about the development, which did not come as a shock to many industry insiders aware of the challenges presented by the cumbersome final rule. Read on »
Posted Date: Tuesday, April 2, 2024
Compliance and innovation are interconnected, Acting Comptroller of the Currency Michael Hsu told attendees at the Consumer Bankers Association’s 2024 conference in Washington, D.C. Dodd Frank Update was in attendance as Hsu said he believes artificial intelligence and machine learning can each be a source of strength for compliance risk management systems moving forward. Read on »
Posted Date: Tuesday, March 26, 2024
Federal banking agencies have extended the implementation period for certain provisions of their modernized Community Reinvestment Act (CRA) rules. Covered entities will have until Jan. 1, 2026, to align their CRA compliance policies and procedures with the revised rules, which had an original applicability date of April 1 of this year. Read on »
Posted Date: Friday, March 22, 2024
The Federal Deposit Insurance Corp. (FDIC) announced it is considering revising its policy statement on bank mergers to be stronger and clearer in response to ongoing consolidation within the financial system.
The FDIC noted that the revised statement of policy is principles-based and reflects legislative and other developments that have occurred since it was last amended in 2008. Read on »
Posted Date: Friday, March 15, 2024
House Republicans celebrated the passage of H.R. 2799, which aims to facilitate capital formation by strengthening public markets, helping small businesses and entrepreneurs and creating new investment opportunities. The bill passed via a 212-205 vote along party lines. Read on »
Posted Date: Tuesday, March 12, 2024
The American Bankers Association issued a white paper titled, “Effective agency guidance: Examining bank regulators guidance practices,” where it voiced its and other trade association’s concern over agency use of guidance “to advance regulatory policy agendas.” Industry experts shared their takeaways from the report.
ABA President Rob Nichols referenced the white paper, along with copies of recent comment letters, in a letter to the federal financial regulators requesting their consideration of the feedback. Richard Andreano of Ballard Spahr, Loretta Salzano of Franzén and Salzano, and Mike Silver of Husch Blackwell, LLP spoke about their takeaways from the report. Read on »
Posted Date: Tuesday, March 12, 2024
Between merging banks and merging credit scoring models, financial regulators still have to find time to conduct examinations and rulemaking activities. Here are a few synopses of activities and announcements that recently came out of the Federal Housing Finance Agency, Federal Deposit Insurance Corp., the Federal Reserve and the Office of the Comptroller of the Currency. Read on »
Posted Date: Tuesday, March 5, 2024
From procedural rule updates to assisting institutions hit by natural disasters, federal regulators undertake a wide scope of activities that do not often make for major news headlines but are impactful nonetheless. Read on »
Posted Date: Friday, March 1, 2024
Federal banking regulators released their 2023 Shared National Credit (SNC) report assessing credit quality and risk factors associated with large, syndicated bank loans as “moderate” despite some downward trends attributed to high interest rates. The SNC program assesses risk among the largest and most complex credit facilities shared by regulated financial institutions and nonbank investors. Read on »
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