Subscribe
Words and Actions
August 25, 2022

There was lots of talk and action in the U.S. regulatory space over the past week. 

On the talk side, the FDIC received 18 comments on its proposed amendments to the FDIC’s proposed increases in Deposit Insurance assessments. And on the action side, showing off what our colleague Mercedes Kelley Tunstall calls its "now-robust enforcement authority," the FDIC continued to make itself very clear that it would act when it encountered misleading statements on deposit insurance protection, sending five more letters to cryptocurrency-related companies it believes are misrepresenting the extent of FDIC insurance on their crypto products.

So, lots to talk about. Any thoughts or questions? Just write to us here.

Daniel Meade and Michael Sholem
Co-Editors, Cabinet News and Views

Partner | Financial Regulation

The Federal Deposit Insurance Corporation proposed amendments to the Deposit Insurance Fund restoration plan originally adopted in September 2020 to implement a universal increase in initial base deposit insurance rates of 2 basis points. The comment period on the proposal closed last week, and 18 comments were submitted.

Read More »

Partner | Financial Regulation

A couple of weeks ago, we reported on the FDIC and the Federal Reserve Board sending a cease and desist letter to Voyager Capital to stop representing that customer funds were protected by deposit insurance. This past week, the FDIC sent five more letters to cryptocurrency-related companies on the same issue.

Read More »

Maurine R. Bartlett
Senior Counsel
T. +1 212 504 6218
maurine.bartlett@cwt.com

Brian Foster
Partner
T. +1 212 504 6736
brian.foster@cwt.com

James Frazier
Partner
T. +1 212 504 6963
james.frazier@cwt.com

Mark Howe
Partner
T. +1 202 862 2236
mark.howe@cwt.com

Gregg Jubin
Partner
T. +1 202 862 2485
gregg.jubin@cwt.com

Philip S. Khinda
Partner
T. +1 202 862 2262
philip.khinda@cwt.com

Ivan Loncar
Partner
T. +1 212 504 6339
ivan.loncar@cwt.com

Peter Y. Malyshev
Partner
T. +1 202 862 2474
peter.malyshev@cwt.com

Daniel Meade
Partner
T. +1 202 862 2294
daniel.meade@cwt.com

Jed Miller
Partner
T. +1 212 504 6821
jed.miller@cwt.com

Michael Newell
Partner
T. +44 0 20 7170 8540
michael.newell@cwt.com

Rachel Rodman
Partner
T. +1 202 862 2210
rachel.rodman@cwt.com

Richard M. Schetman
Senior Counsel
T. +1 212 504 6906
richard.schetman@cwt.com

Lary Stromfeld
Partner
T. +1 212 504 6291
lary.stromfeld@cwt.com

Jonathan M. Wainwright
Senior Counsel
T. +1 212 504 6122
jonathan.wainwright@cwt.com

© 2022 | Notices | Manage Subscription | Contacts