Margaret E. Tahyar

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Ms. Tahyar is a partner in Davis Polk’s Financial Institutions Group. [Full Bio]

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There is now a serious effort underway by the usually divided Congress to find a way for the growing cannabis sector to enter the mainstream financial sector.  Our newest visual memorandum updates our earlier briefing on the two legislative vehicles:  the Secure and Fair Enforcement Banking Act (the SAFE Banking …
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Tom Baxter of Sullivan & Cromwell LLP, and formerly the General Counsel of the Federal Reserve Bank of New York, has written an important article titled “The Rise of Risk Management in Financial Institutions and a Potential Unintended Consequence – The Diminution of the Legal Function,” recently published by the…
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We recently wrote an article for Thomson Reuters’ Practical Law outlining the state of play for the financial services sector’s relationship with the U.S. cannabis sector.  Our article summarizes the dilemma arising from the widening gulf between static federal prohibitions and changing state laws.  We consider and reject a number…
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Cannabis banking legislation reached a new milestone last week. Following a markup session, the House Financial Services Committee on March 28 approved an amended SAFE Banking Act in a 45-15 vote. As our visual memorandum discussed in February, the bill offers a safe harbor and other protections for depository institutions…
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U.S. federal banking regulators plan to revive efforts to regulate financial institution incentive compensation, as required under Section 956 of the Dodd–Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act).  The Wall Street Journal reports that the current effort is in its “early stages” and is being…
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Cannabis legislation for banking is now getting more serious attention, as it should. On Wednesday, February 13, the Consumer Protection and Financial Institutions Subcommittee of the House Committee on Financial Services will convene a hearing entitled, “Challenges and Solutions:  Access to Banking Services for Cannabis-Related Businesses.” The hearing follows Chairwoman…
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The Federal Reserve, FDIC and OCC (the Banking Agencies) recently published a proposal to increase the thresholds associated with the “major assets” prohibition governing management official interlocks contained in the Depository Institutions Management Interlocks Act (DIMIA)[1] and implemented by Regulation L.  DIMIA permits the Banking Agencies to raise the…
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In the decade leading up to the 2008 financial crisis, de novo bank charters averaged more than 100 per year.[1] This robust flow of new bank charters continued a trend since the 1960s and before.[2] It partially offset a decline in the number of banks in the United…
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The move away from a one-size-fits-all regulatory framework based on asset size continues.

On October 31, the Federal Reserve proposed a rule to implement Section 401 of the Economic Growth, Regulatory Relief and Consumer Protection Act, tailoring enhanced prudential standards for firms with $100 billion or more in total consolidated…
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Davis Polk has submitted a comment letter on the FDIC’s Request for Information on FDIC Communication and Transparency.   Our comment letter concentrates on ways in which we believe that the FDIC could improve its website, with a particular focus on how the FDIC’s efforts could educate users and ameliorate…
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