Cooley lawyers Obrea Poindexter, Jasmine Banks and Elyse Moyer co-authored an article for Law360 about the Federal Deposit Insurance Corporation (FDIC) withdrawing proposed rules that were intended to reshape regulatory obligations related to corporate governance practices. Read the article (subscription required) and see this related Cooley alert.
FDIC Withdraws Four Biden-Era Proposed Rules
The Federal Deposit Insurance Corporation (FDIC) board of directors approved the withdrawal of proposed rules relating to brokered deposits, corporate governance, the Change in Bank Control Act and incentive-based compensation arrangements. The proposals would have, among other things, expanded the definition of “brokered deposits,” augmented corporate governance responsibilities and increased oversight of certain bank investors. The withdrawal of the proposed rules signals the FDIC’s reevaluation …