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FDIC Insurance Update

Gain insight into the unique receivership and related powers enjoyed by the FDIC.

Depositors, borrowers, businesses and banks all need to be aware of the complex rules of the FDIC for determining deposit insurance coverage as well as the powers that the FDIC asserts when it takes control of a failed financial institution. Directors and officers of failed financial institutions also need to be very aware of potential enforcement actions by the FDIC or other federal bank regulatory agencies. The FDIC has established a high level of professionalism associated with and handling failed insured depository institutions, but there are clear differences in the powers available to the FDIC in the event of a bank failure as compared to a bankruptcy trustee in the event of a corporate failure. This program will explain the unique receivership and related powers enjoyed by the FDIC, and will also comment on the receivership process in the fintech sector and the issues that may be presented depending on the charter being used.

Runtime: 91 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

FDIC: What It Is, What It Is Not

  • Distressed and Failed Financial Institutions: FDIC Transactions, Receiverships, Whole Bank Purchase and Assumption Agreements, Insured Deposit Only Purchase and Assumption Agreements, and Pay Outs
  • Deposit Insurance Determinations: Maximize Deposit Insurance and Other Options, Including Repurchase Agreements
  • Claims Process
  • Qualified Financial Contracts, Set-Offs and Netting, and Counterparty Risk
  • Super Powers
  • Contracting Opportunities

Recent Events

  • FDIC Brokered Deposit Rule Revision
  • Living Will Provisions Involved With the Potential Failure of a Large Insured Depository Institution
  • Receivership/Resolution Issues With Fintech Entities
  • Director and Officer Enforcement/Litigation
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

OnDemand Course

This course was last revised on January 30, 2020.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Frank A. Mayer, III

Frank A. Mayer, III

Stevens & Lee

  • Has more than 30 years of banking law experience, chairs his firm’s financial services regulatory enforcement practice
  • Clients include some of the largest financial services firms throughout the world and he regularly defends insured depository institutions, related affiliates, officers and directors, foreign banking organizations, branches and agencies from United States government enforcement actions
  • Was a senior attorney at FDIC and while with the Resolution Trust Corporation in more senior positions, he advised policy makers and officials in the liquidation divisions in connection with closing financial institutions as well providing legal advice and holding requisite delegated authority to dispose of some of the agencies’ most complex assets and liabilities
  • As the legal representative to the RTC settlement work out team, he held co-delegated authority of $100,000,000.00
  • Frequently sought by the media to offer insights into bank regulatory issues and he has chaired the ABA Bano Agency Comment Committee and is the current chair of the ABA Banking Law Committee task force concerning the bank examination privilege
Timothy R. McTaggart

Timothy R. McTaggart

McTaggart Law Office

  • Nationally known lawyer based in Washington, D.C. who focuses his practice on bank and financial services regulatory processes and related corporate matters
  • Served as the Delaware Bank Commissioner and as counsel to the U.S. Senate Banking Committee
  • Graduate of Harvard Law School and Harvard College (economics)
  • Represented bank boards, bank board committees, bank directors and bank officers in actual or threatened enforcement actions by the FDIC and the other federal regulatory agencies, as well as by certain state agencies plus by the CFPB
  • Invited and guest lectured at the FDIC and other bank regulatory agencies on banking/financial services topics
  • Currently has his own law firm, McTaggart Law Office, www.mctaggartlegal.com and previously was a partner in several major American law firms with a specialization in financial institution issues
  • Testified before congress on banking/financial services issues and has been recognized for various pro bono and other community efforts involving cultural, social justice, and educational organizations
  • Recognized for its contributions to bar association activities, speaking efforts and written commentary over the course of his career
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 407232
Published 2020
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