The Fed’s recent proposal marks the latest development on one of the most important policy questions for the U.S. financial system today: who is entitled to have a master account? A mas...
Financial services regulatory reform will continue to be active in 2021, with the Biden Administration focused on activity at the intersection of financial regulation and social policy. ...
The Federal Reserve’s final guidance on board of directors’ effectiveness (Board Effectiveness Guidance) is a key milestone in its multi-year review of the practices of boards of dire...
This deck describes our view of the road ahead for financial regulatory reform under a Biden Presidency, and updates the deck we published shortly after the 2020 election to reflect the D...
The FDIC has issued a final rule to formalize longstanding expectations it has had for the parent company of a new industrial loan company (ILC). The FDIC adopted the proposed rule issue...
This memo summarizes the amendments to the Federal Reserve’s emergency powers, the Paycheck Protection Program, other support for small businesses, and certain other provisions included...
With the House expected to vote on a cannabis legalization bill tomorrow, we have updated our visual memorandum to describe the post-election prospects for the three most important cannab...
This deck describes our view of the road ahead for financial regulatory reform under a Biden Presidency and a Republican Senate. We see most of the action coming from the regulators, not...
The banking sector is both regulated and supervised, a key difference between banking and the rest of the regulated sectors in the economy. Supervision happens behind the veil of confide...
The OCC has issued an interpretive letter confirming that national banks may take deposits that serve as reserves for fiat currency-pegged stablecoins. The letter continues the series of ...
