BNA INSIGHTS: The Consumer Financial Protection Bureau’s Authority to Regulate ‘Abusive’ Consumer Financial Products and Services

The Bureau of Consumer Financial Protection (CFPB) has been given a broad and vaguely-defined power to prohibit and punish “unfair, deceptive, and abusive financial practices.”…

BNA INSIGHTS: Claims of Excessive Risk Taking by Bank Directors and Officers Are in the Eye of the Beholder

This is the second of a two-part series analyzing the historical context beneath the Federal Deposit Insurance Corporation’s lawsuits against directors and officers (D’s & O’s) of banks that have failed since 2008. Part I examined statutory and common law standards of liability as they have developed since the S&L crisis of the 1980s and 1990s (97 BBR 762, 11/1/11). Part II examines the nature of claims asserted by regulators against D’s & O’s of institutions that failed during that prior crisis, the issues of standard of liability for D’s & O’s, whether the business judgment rule applies, what conduct the FDIC seeks to use as a basis for liability in the 15 lawsuits it has filed since 2008, and what the litigation might portend for D’s & O’s of banks that have thus far made it through the most turbulent financial crisis since the Great Depression.

FDIC Clears Final Rules on ‘Living Wills,’ Sets Flexible Implementation Schedule

The Federal Deposit Insurance Corporation (FDIC) Sept. 13 cleared a final rule on so-called living wills mandated for certain large banks and critical nonbank financial firms, along with some extra time to put those plans in place…

N.Y. Fed Enhancing Supervisory Practices with Staff Changes, Business Line Scrutiny

The Federal Reserve Bank of New York is enhancing its supervisory practices by more frequently engaging financial institutions’ most senior executives and paying closer attention to a firm’s business practices…

New Consumer Financial Protection Bureau to Begin Exams of More Than 100 Large Banks July 21, 2011

The Consumer Financial Protection Bureau will examine 111 large banks with assets of more than $10 billion when it begins operations on July 21, the Treasury Department said in a July 12 statement outlining the new agency’s supervision plans…

Commercial Banks, Thrifts Report Best Quarterly Profits Since Crisis

Commercial banks and thrifts reported an aggregate profit of $29 billion in the first quarter of 2011, the highest quarterly net income since the 2007 onset of the financial crisis, according to the latest Federal Deposit Insurance Corporation Quarterly Banking Profile, released May 24…

OCC Letter Sketches Implementation Plan For Preemption Regime Under Dodd-Frank

A new letter by the Office of the Comptroller of the Currency sketches how the national bank regulatory agency will implement preemption provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act, sending the clearest signal yet on what those sections will mean for national banks and federal thrifts…

BNA INSIGHTS: Banking Regulatory Relationship Management: Building Trust, Credibility With Regulators

This multi-part series, entitled “Regulatory Relationship Management,” sets forth key principles and practical strategies for establishing and maintaining productive regulatory relationships, with an emphasis on banks and banking regulators. Through effective regulatory relationship management, banks can streamline and simplify supervisory oversight, reduce risk of regulatory sanctions, and enhance their own and the industry’s reputation for compliance and competence…

BNA INSIGHTS: Banking Regulatory Relationship Management: Planning, Organizing and Managing Examinations

In part two of this multi-part series on “Regulatory Relationship Management,” the authors describe a best practices approach for preparing for and managing banking examinations. By centralizing exam management in a regulatory relationship manager and leveraging a network of key contacts within each area of the financial institution to provide information rapidly, the bank should be in a constant exam-ready mode, which will contribute to a successful outcome…

BNA INSIGHTS: Review of 2010 Bank Enforcement Actions: A Hardened Government Attitude

The number of formal enforcement actions issued by the federal banking agencies exploded again in 2010, following a record setting year in 2009 in which the federal banking agencies issued more than 1000 formal enforcement actions for the first time…

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