Harold P. Reichwald, Co-Chair of Manatt, Phelps & Phillips Financial Services & Banking Practice participated in a discussion moderated by John R. Phelps of the Risk and Insurance Management Society, Inc. (RIMS).
On December 20, 2011, the Federal Reserve Board issued proposed regulations intended to strengthen the regulation and supervision of large bank holding companies (BHCs) and systemically important nonbank financial firms as required by Dodd-Frank Sections 165 and 166.
Congress took out its anger with the credit rating agencies for the role their flawed ratings for securitizations and other structured products played in the U.S. economic collapse by enacting Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).
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This article examines the key responsibilities of bank directors in governance and the important practices they should follow.
Over 400 banks have been closed since the onset of the financial crisis in mid-2008.
As fall arrives and football returns, banking headlines seem removed from the daily challenges and operations of community banks.
In a recent ruling, the federal court in Los Angeles found that directors of a failed credit union were not liable for acts alleged to be negligent because the actions of the directors were protected by the so-called business judgment rule.
On June 29, 2011, the Federal Reserve published its final rule, known as Regulation II, Debit Card Interchange Fees and Routing (the “Rule”), which implements Section 1075 of the Dodd–Frank Wall Street Reform and Consumer Protection Act.
Although ignorance may be bliss some of the time, community banks with assets under $10 billion are at significant risk if they ignore the June 2011 joint regulatory proposed guidance (and ultimately, the final guidance) on stress testing.