Law360: What Travis Hill’s Vision For FDIC Could Portend For Banks
On the heels of his appointment as acting chairman of the Federal Deposit Insurance Corp., Travis Hill, formerly vice chairman, issued a statement on Jan. 21 outlining his priorities for the FDIC in the coming months should he be selected to lead the agency.
Hill's statement echoed priorities he presented earlier in a speech to the American Bar Association on Jan. 10. Although Hill has not yet been nominated to serve as the permanent chairperson, it has been reported that he is widely considered a top contender.
While there is no shortage of ink that has been spilled summarizing the particulars of Hill's agenda, it is worth stepping back to review the overarching themes animating his specific policy priorities and what they could mean for the road ahead.
If Hill lands the role, now may be the time to seize technology-based opportunities and growth strategies. But beware of land mines: They are likely to persist, just in new and potentially unexpected places.
Check out the full Law360 article and download a copy HERE.
About the Authors
Andrea Mitchell is a nationally recognized adviser to banks, financial services companies, and third-party service providers on enforcement, regulatory, and compliance matters. She represents clients throughout the country on fair lending, fair servicing, and responsible banking issues, including matters that involve claims of disparate impact; disparate treatment; and unfair, deceptive, or abusive acts and practices (UDAAP). Her work in this area includes advising on redlining, pricing, underwriting, steering, product development, sales and marketing, social media, limited English proficiency, artificial intelligence and machine learning, overdraft and other deposit account practices, credit reporting, servicing, collections, and loss mitigation.
Chris Napier is a Partner at Mitchell Sandler. His practice focuses on providing regulatory counseling, strategic advice and representation during government enforcement matters, including matters involving commercial, consumer and alternative credit products; money transmission and payments; deposit issues; and partnerships between fintech companies, depository institutions, and lenders.
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