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Federal Deposit Insurance Corporation
Shearman & Sterling Discusses Financial Regulators’ Request on How Firms Use AI
On March 29, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the National Credit Union Administration (the “Federal Agencies”) issued a request for information (“RFI”) …
The Future of Financial Institution Resolution
One of the principal lessons learned from the 2007-2009 financial crisis was the need for new legal regimes to facilitate the rapid and orderly resolution of systemically important financial institutions without a government bailout. In the final part of a …
Sullivan & Cromwell Discusses Resolution-Planning Guidance for U.S. Global Systemically Important Banks
On December 20, 2018, the Federal Reserve and the Federal Deposit Insurance Corporation (together, the “Agencies”) issued final guidance (the “Final Guidance”)[1] with respect to future resolution plan submissions under Title I of the Dodd-Frank Act by the eight …
Detection of Insider Abuse and Fraud Among U.S. Failed Banks
The U.S. banking industry has exhibited increasing vulnerability to economic cycles since the easing of post-depression era measures designed to insulate banking from economic instability. Between 1934 and 2017 there were 2,758 commercial and savings bank failures.[1] Nearly 80 …
The Legal Framework of Mobile Payments: Gaps, Ambiguities, and Overlap
In a September 22, 2016, post on this blog, available here, Professor Wulf Kaal asked in the title to his piece, “What Happens When Technology Is Faster Than the Law?” He noted that while “innovation driven by science and …
Regulatory Leveraging: Problem or Solution?
“Nice merger you’ve got here. It would be a shame if anything was to happen to it.”[1]
In antitrust and related areas of economic regulation, private leveraging is risky business. Large firms that use substantial market power in one …