31 May 2022
FDIC Seeks Crypto Regulatory Gaps in Compliance with Biden Executive Order
Understand the authority of the Federal Deposit Insurance Corporation (FDIC) and view recent requests by the FDIC to be notified of all banks that participate or intend to participate in crypto-related activities. The FDIC will begin requesting case-specific information to allow it to assess the safety and soundness, consumer-protection, and financial-stability consequences of the institution’s crypto activities.
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Read about the various examination, investigation, and enforcement methods granted to federal bank regulatory agencies, including a chart comparing the enforcement actions used by each agency.
- Federal Deposit Insurance Corporation
Explore the examining and supervising functions of the FDIC over state-chartered insured depository institutions (IDIs) that are not members of the Federal Reserve System. This Practice Note provides key information on FDIC enforcement authority including termination of deposit insurance and limiting “golden parachute” payments or agreements.
Practical Guidance Updates
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- Trends & Insights provides the latest in news articles and insights documents on trending areas for financial service organizations, including The Federal Reserve Board's Paper on a Central Bank Digital Currency with key considerations from the recent Executive Order signed by President Biden on March 9, 2022.
- Financial Services Regulations Fundamentals Resource Kit and CFPB Examination and Investigation Resource Kit cover key issues, laws, and regulations applicable to in-house lawyers and counsel advising on consumer protection matters. Resource kits include helpful articles, practice notes, templates, and forms.
- Ukraine Invasion Resource Kit provides up to date resources to aid financial services institutions navigate through the myriad of Russian sanctions associated with this conflict.
- The Practical Guidance Journal Spring 2022 Edition features guidance for employers on COVID-19 vaccination, testing, and employee health data protection; climate change disclosure market trends; and updates related to the Secured Overnight Financing Rate (SOFR).
- Check out the new Practical Guidance Author Center! Learn about the 1500+ leading attorney authors contributing to our 21 practice areas, and find out how you can Become a Practical Guidance Author.
- Document alerts are now available in Practical Guidance. This allows you to stay current on legal developments that affect your practice. Find out how to set up your document alerts.
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