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MoFo Reenforcement The Enforcement Blog

FDIC Finalizes Supervisory Regime for Industrial Banks and their Controlling Shareholders

Posted in Regulatory Developments

On December 15, 2020, the Federal Deposit Insurance Corporation (“FDIC”) issued a final rule (“Final Rule”) setting forth standards to apply to controlling shareholders of industrial banks that are not subject to consolidated supervision by the Board of Governors of the Federal Reserve System. The Final Rule is substantially similar to the FDIC’s proposal announced March 17, 2020, and will take effect on April 1, 2021.

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