Zac Davis presented at the Elliott Davis Financial Services Strategy Forum. The presentation addressed current hot topics for financial institutions focusing on the current regulatory environment, the landscape for mergers and acquisitions and capital raises, a summary of recent Supreme Court cases and the potential effects of the 2024 election for financial institutions.
Read More...To our clients and friends:
Today we published Volume 12 of The Bankers’ Bulletin, our last edition of the year. You can find a copy here.
In this volume, we outline some of our early predictions of the potential impacts of the November election on bank regulation, supervision, examination, and enforcement.
We also cover the FRB’s semiannual supervision and regulation report, FinCEN’s alert on fraud schemes involving AI, the aftereffects of recent community bank failures, legislative and regulatory developments involving credit unions, and more.
We welcome feedback on what you would like to see covered by the Bulletin in the new year. If you have any feedback, or questions related to any of the items covered in this volume of the Bulletin, please reach out to Brendan Clegg (bclegg@luselaw.com), Marc Levy (mlevy@luselaw.com), Agata Troy (atroy@luselaw.com), or your regular Firm contact. To learn more about our firm and services, please visit our website.
Read More...On November 27, 2024, Guilford Savings Bank and Eastern Connecticut Savings Bank announced their agreement pursuant to which Eastern Connecticut Savings Bank will merge with Guilford Savings Bank, with Guilford Savings Bank as the surviving entity.
Read More...Blue Federal Credit Union, a federally chartered credit union headquartered in Cheyenne, Wyoming, has successfully completed a private placement of $10.0 million of subordinated notes. The subordinated notes are intended to qualify as subordinated debt under NCUA rules and are considered regulatory capital in the calculation of Blue Federal Credit Union’s net worth ratio and risk-based capital ratio.
Read More...On November 19, 2024, Brendan Clegg presented on key bank regulatory and enforcement updates at the New Hampshire Bankers Association and Vermont Bankers Association Fall 2024 Compliance Conference in Concord, New Hampshire. The presentation focused on potential policy, supervision, and personnel changes at the federal banking agencies after the 2024 election, recent landmark decisions by the Supreme Court that will affect bank relationships with their supervisors, new merger policy statements from the FDIC and OCC, and proposed rules from the FDIC related to corporate governance, brokered deposits and bank-fintech partnerships.
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