Many reasons have been suggested for the recent economic and financial crisis. However, one cause that is often mentioned is a badly outdated regulatory system that failed to effectively protect the system from risky financial instruments, poor credit decisions and predatory lending practices. The Obama Administration’s response has been to make restructuring the domestic financial regulatory system a major legislative priority.

Earlier this year, the Treasury Department released an extensive white paper on its plan for regulatory reform, “Financial Regulatory Reform, A New Foundation: Rebuilding Financial Supervision and Regulation.” That white paper proposes a drastic overhaul of the regulatory system. The proposals include the designation of the Federal Reserve Board as a “systemic risk regulator” with responsibility to oversee all financial firms that are found to pose a threat to the economy’s financial stability, establishment of a mechanism to resolve failing systemically significant companies outside of bankruptcy, creation of a “Consumer Financial Protection Agency” to enforce financial consumer and fair lending laws, the merger of certain federal banking agencies into a new “National Bank Supervisor” and the elimination of the federal thrift charter.

The Treasury is reducing its proposals to legislation that is being considered by Congress during the summer and fall of 2009. That legislative process has significant implications for financial services companies and financial institutions.

Knowledge Center

DateTitleKnowledge Type
28 December 2012
Federal Reserve Board Proposes Rules Regarding Enhanced Prudential Standards and Early Remediation Requirements for Foreign Banking Organizations and Foreign Nonbank Financial Companies Legal Alerts
04 March 2011
Federal Banking Agencies Offer Proposal to Reform Financial Institution Incentive Pay Legal Alerts
14 February 2011
FRB Proposes Rules Governing Supervision of Nonbank Financial Companies and Significant Nonbank Financial Companies and Bank Holding Companies Legal Alerts
29 September 2010
Consumer Finance Protection Bureau to Assume Responsibilities on July 21, 2011 Legal Alerts
02 September 2010
SEC Adopts Final Proxy Access Rules Legal Alerts
06 August 2010
Dodd-Frank Wall Street Reform and Consumer Protection Act – Scope of Coverage of the Bureau of Consumer Financial Protection Legal Alerts
29 July 2010
The New Jersey Bankers Association & Kilpatrick Stockton Present Dodd-Frank Wall Street Reform and Consumer Protection Act Issues for Banks Podcasts
29 July 2010
The New Jersey Bankers Association & Kilpatrick Stockton Present Dodd Frank Wall Street Reform and Consumer Protection Act: Key Issues for Savings Associations Podcasts
28 July 2010
Kilpatrick Stockton Presents Dodd-Frank Wall Street Reform and Consumer Protection Act Issues for Banks Podcasts
28 July 2010
The Maryland Bankers Association & Kilpatrick Stockton Present Dodd-Frank Wall Street Reform and Consumer Protection Act Issues for Banks Podcasts
27 July 2010
Kilpatrick Stockton Presents Dodd-Frank Wall Street Reform and Consumer Protection Act: Key Issues for Savings Associations Podcasts
27 July 2010
The Maryland Bankers Association & Kilpatrick Stockton Present Dodd-Frank Wall Street Reform and Consumer Protection Act: Key Issues for Savings Associations Podcasts
16 July 2010
Executive Compensation and Corporate Governance Provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act Legal Alerts
15 July 2010
Congress Passes Dodd-Frank Wall Street Reform and Consumer Protection Act: Significant Changes to Regulation of Depository Institutions Legal Alerts
27 May 2010
Amendments to Financial Services Reform Bill Adopted on Senate Floor Would Have Significant Impact on Depository Institutions Legal Alerts
07 May 2010
Banking Regulators Issue Final Guidance on Correspondent Concentration Risks Legal Alerts
22 April 2010
FDIC Proposes Revisions to Risk-Based Assessment System for Large Insured Depository Institutions and Adjustments to Assessment Range for All Insured Institutions Legal Alerts
16 April 2010
FDIC Extends Transaction Account Guarantee Program Legal Alerts
15 January 2010
Divided FDIC Enters Regulatory Debate on Incentive Pay Legal Alerts
29 July 2009
Administration Provides More Detail on Plans for Restructuring Banking Agencies, Eliminating Federal Thrift Charter Legal Alerts
17 July 2009
SEC Proposes New Rules Expanding Executive Compensation and Corporate Governance Disclosure Requirements Legal Alerts
19 June 2009
Administration Proposes Restructuring of Financial Services Regulation Legal Alerts
19 May 2009
Capital Strategies in the Current Environment – TARP and Beyond Events
09 April 2009
Consolidation in the Financial Sector and the Changing Role of Antitrust Law Legal Alerts
31 March 2009
Treasury Outlines Regulatory Reform Agenda; Proposes Legislation for Resolving "Systemically Significant Financial Companies" Legal Alerts
26 February 2009
Treasury Announces Capital Assistance Program Legal Alerts
11 February 2009
Treasury Announces Obama Administration Financial Stability Plan Legal Alerts

Experience Center

Regulatory advice for major participants in the secondary mortgage market
Advised major participants in the secondary mortgage market on the effect of an FDIC receivership or conservatorship on mortgage servicing and the more
Securities offering for a Pennsylvania bank pursuant to TARP
Represented a Pennsylvania bank in its issuance of preferred stock through the U.S. Treasury Department's TARP Capital Purchase Program. more
Issuance of securities under TARP for Monument Bank
Represent Monument Bank in issuance of $4.7 million of preferred stock under the U.S. Treasury's Troubled Asset Relief Program. more
Issuance of preferred stock under the Capital Purchase Program by F.N.B. Corporation
Represented F.N.B. Corporation in the issuance and subsequent repayment of preferred stock issued to the Treasury Department under the Capital more
Issuance of securities under TARP Capital Purchase Program for a Maryland bank holding company
Represented a Maryland bank holding company in its issuance of securities under the TARP Capital Purchase Program. more

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Kilpatrick Townsend’s Silicon Valley-based start-up team advised the founders of Editas Medicine in the biotech start-up’s $43 million Series A more