Troutman Pepper Partner Matthew Bornfreund spoke at the ABA Business Law Section Fall Meeting in San Diego on September 12, 2024. The discussion focused on the FDIC’s brokered deposits NPR.
Federal Reserve Bank of San Francisco and DFPI Office of Financial Technology Innovation’s Office Hours
Troutman Pepper Partner Alexandra Steinberg Barrage was a featured speaker at the Federal Reserve Bank of San Francisco and DFPI Office of Financial Technology Innovation’s office hours on September 12. The discussion focused on the impact of financial data on access and financial health.
Legal and Regulatory Compliance Insights: Focus on BAAS
Later today, Troutman Pepper Partner James Stevens is presenting “Legal and Regulatory Compliance Insights: Focus on BAAS” to 10 founders from the Fintech South Innovation Challenge, the lead-up accelerator to Fintech South, and mentors assigned to those founders. The presentation is being held at the Advanced Technology Development Center at Georgia Tech. James
Banking as a Service Explained: Why Some Financial Institutions Hesitate While Others Fully Engage
Troutman Pepper partner James Stevens was a featured speaker during National Fintech Organization’s webinar, “Banking as a Service Explained: Why Some Financial Institutions Hesitate While Others Fully Engage.”
Georgia Bankers Association 2024 Annual Meeting
Troutman Pepper partner James Stevens spoke at the annual Georgia Bankers Association meeting alongside Jonathan Hightower, a partner at Fenimore Kay Harrison. Their discussion focused on how, after a challenging year in 2023, many banks are seeking opportunities to regain forward momentum. During the session, James and Jonathan explored various growth opportunities for banks, including the resurgence of community bank mergers and acquisitions, strategies for nontraditional deposit growth, compensation and retention tactics, and leadership succession planning. Additionally, they addressed ways to mitigate emerging risks amidst heightened expectations from regulators and other stakeholders.
Federal Banking Agencies Issue New Guidebook for Community Banks Managing Third-Party Relationships
On May 3, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency (collectively, the agencies) released a guidebook aimed at assisting community banks in managing risks associated with third-party relationships (the TPRM Guide). The TPRM Guide builds upon the principles introduced in the third-party risk management guidance for banking organizations issued by the agencies in June 2023 (the June 2023 Guidance, discussed here) as well as the agencies’ community bank guide for conducting due diligence on fintech companies from October 2023 (discussed here) but does not displace or substitute that prior guidance.
Troutman Pepper’s Financial Services Practice Continues Momentum with Addition of Bank Regulatory Partner Alexandra Steinberg Barrage
Former FDIC Executive Join Firm’s Dynamic D.C. Office
Alexandra Steinberg Barrage, a former FDIC executive with over a decade of bank regulatory experience, has joined Troutman Pepper’s Washington D.C. office.
Regulators Focus on Digital Banking’s BSA/AML Compliance Issues
James Stevens, co-leader of Troutman Pepper’s Financial Services Industry Group, was quoted in the March 21, 2024 FinXTech article, “Regulators Focus on Digital Banking’s BSA/AML Compliance Issues.”
Troutman Pepper Continues Expansion of Financial Services Practice with Addition of Two Partners
Kevin Petrasic and Matthew Bornfreund Enhance Firm’s Bank Regulatory Practice
WASHINGTON, D.C. – Kevin Petrasic and Matthew Bornfreund, two highly regarded financial services partners with a focus on bank regulation, have joined Troutman Pepper in Washington, D.C. Arriving from Davis Wright Tremaine, where they spearheaded the bank regulatory and financial institutions advisory practice, Petrasic and Bornfreund bring a wealth of experience representing U.S. banks and bank holding companies, foreign banks in their U.S. regulatory needs, including those with multifaceted governance issues and transactions, and payments companies in their bank relationships.
Trade Groups File Lawsuit Challenging CRA Modernization Final Rule
Yesterday, the Texas Bankers Association, the Amarillo Chamber of Commerce, the American Bankers Association, the Chamber of Commerce of the United States of America, the Longview Chamber of Commerce, the Independent Community Bankers of America, and the Independent Bankers Association of Texas Revenue Based Finance Coalition (collectively, the plaintiffs) filed a complaint in the U.S. District Court for the Northern District of Texas challenging the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency’s (collectively, the agencies) Final Rule modernizing how they assess lenders’ compliance under the Community Reinvestment Act (CRA). In their complaint, the plaintiffs asked the court to vacate the Final Rule and provide a preliminary injunction that would pause implementation of the Final Rule while the court decides the case.