In a Financial Institution Letter, the FDIC told counterparties and service providers to the recently failed Silicon Valley Bank, N.A. and Signature Bank, N.A. that (i) they remain obligated to the successor bridge banks of the two failed banks and (ii) they must meet their contractual obligations to the bridge banks.
News & Insights
Comments on a CFPB proposal to establish a public registry of terms and conditions on form contracts that waive or limit consumer rights and protections are due by April 3, 2023.
The CFPB proposed a registry designed to monitor the use of terms and conditions on form contracts that waive or limit consumer rights and protections.
The Federal Reserve Board, CFPB, FDIC, OCC, National Credit Union Administration and state financial regulators alerted mortgage servicers that they will resume their respective pre-pandemic supervisory and enforcement approaches towards noncompliance with mortgage-servicing rules.
A Federal Reserve Board final rule that expands the number of financial institutions that fall under the "netting" provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 was published in the Federal Register.