On January 20, Travis Hill became the Acting Chairman of the Federal Deposit Insurance Corporation (FDIC). Following his remarks on FDIC policy issues on January 10 at the American Bankers Association, in his first statement as Acting Chairman, Hill highlighted various priorities and mentioned new initiatives, emphasizing a commitment to regulatory reform, innovation, and a focus on core financial risks.
James Stevens
James is the co-leader of the firm’s Financial Services Industry Group. He has significant experience working with clients across the entire financial services sector, regularly working with public and private companies such as banks, neobanks, marketplace lenders, and other fintech and financial services providers and partners.
BaaS Outlook Brighter After Period of Growing Pains
James Stevens, co-leader of Troutman Pepper Locke’s Financial Services Industry Group, was quoted in the January 15, 2025 Banking Dive article, “BaaS Outlook Brighter After Period of Growing Pains.”
Court Rules Against Banco San Juan Internacional, Inc. in Master Account Dispute
On January 8, the United States District Court for the Southern District of New York dismissed the claims brought by Banco San Juan Internacional, Inc. (BSJI) against the Federal Reserve Bank of New York (FRBNY) and the Board of Governors of the Federal Reserve System (Board). BSJI alleged that the termination of its master account by the FRBNY violated various federal laws. The ruling in the BSJI case underscores the discretionary authority of Federal Reserve Banks in granting or denying master accounts.
Co-Leader of Troutman Pepper’s Financial Services Industry Group Quoted in Article About Old National’s Share Price Gain
James Stevens, co-leader of Troutman Pepper’s Financial Services Industry Group, was quoted in the December 5, 2024 S&P Global article, “Old National books rare share price gain after announcing large bank deal.”
FDIC Extends Comment Period for Proposed Rule on Recordkeeping for Third-Party Deposits
In a previous post, we discussed the Federal Deposit Insurance Corporation’s (FDIC) notice of proposed rulemaking aimed at enhancing recordkeeping for bank deposits received from fintech and other third-party, non-bank companies. The proposed rule initially set a public comment period ending on December 2, 2024. Yesterday, the FDIC announced a 45-day extension to this comment period, now allowing stakeholders until January 16, 2025, to submit their feedback.
Troutman Pepper Partner James Stevens will be a featured speaker during the ETA TRANSACT Tech — Atlanta event on Thursday, November 14, 2024.
During the event, industry leaders and experts will discuss emerging technologies like Artificial Intelligence (AI) and business-to-business (B2B), and provide updates on faster payments developments and policy changes at both federal and state levels. James, alongside Ali Cook, a Corporate & Finance Partner at Arnall Golden Gregory, will host the “Discussion of DOJ Lawsuit and Capital One / Discover Merger” panel.
Troutman Pepper Partner James Stevens to Speak at PLI’s Banking Law Institute 2024
Troutman Pepper Partner James Stevens will be a featured speaker at PLI’s Banking Law Institute 2024 program on October 24, 2024 at 9 a.m. This program will focus on recent developments impacting banks, particularly given recent regulatory scrutiny and enforcement actions.
Braving the Bumps in Banking as a Service
James Stevens, co-leader of Troutman Pepper’s Financial Services Industry Group, was quoted in the October 10, 2024 Bank Director article, “Braving the Bumps in Banking as a Service.”
FDIC Extends Comment Period for Proposed Changes to Brokered Deposit Regulations
Today, the Federal Deposit Insurance Corporation (FDIC) announced an extension of the comment period for its notice of proposed rulemaking (NPR) aimed at revising the 2020 Brokered Deposit Rule. To ensure that all interested parties have sufficient time to review the proposed changes and prepare their comments, the FDIC has extended the comment period from October 22, 2024, to November 21, 2024.
Fiserv Nets Special Banking Charter in Georgia
James Stevens, co-leader of Troutman Pepper’s Financial Services Industry Group, was quoted in the October 4, 2024 Banking Dive article, “Fiserv Nets Special Banking Charter in Georgia.”