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There was lots of big news coming out of the FDIC Board this week − an important Advanced Notice of Proposed Rulemaking on resolution requirements for large banking organizations (announced jointly with the Federal Reserve Board) and the announcement of a 2 basis point increase in deposit insurance assessment rates.  

Also in the news, just yesterday, a three-judge panel of the 5th Circuit Court of Appeals ruled that the funding of the CFPB, as a bureau of the Federal Reserve, is unconstitutional. This is an important decision that is just the latest threat to the structure of the CFPB. We will have more to say on this decision in a forthcoming Client & Friends memo and in next week's Cabinet News and Views

Finally, we thank our friends at Conyers in the Cayman Islands for their article on Russia-related financial sanctions. 

For now, we welcome any comments or questions. Just drop me a note here.

Daniel Meade 
Editor, Cabinet News and Views

October 20, 2022
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