Dan Hartman

Dad and Husband. Banking and FinTech Lawyer at @NutterLaw. Former Counsel @BostonFed. Fan of the Patriots, Red Sox, and free markets.

[Dan Hartman @danhartman]

Mutual banks are having a moment.  The @federalreserve’s new proposal clarifying the regulatory capital treatment for mutual capital certificates and special deposits strongly aligns with Vice Chair Bowman’s and @SecScottBessent’s focus on supporting community banks and maintaining the strong history of a United States banking system with robust competition.  If finalized, mutual institutions will also need to ensure their efforts to raise capital comply with state laws and meet investor demand.

Read our @Law360 article here:

https://t.co/C5FgvsbKBL

[Dan Hartman @danhartman]

@JillCastilla @tollemomma @RedSox @ChrisReilly18 @MeganLReilly What a great story Payton and the team have been this year. He’s been a perfect fit for our region.

[Dan Hartman @danhartman]

@JonMcKernan Congrats Jonathan! Thank you for your service.

[Patrick Mahomes II @PatrickMahomes]

Insane… don’t even understand how this could be possible

[Dan Hartman @danhartman]

@Aarondklein This could be right. Although nothing in the FRA that says there is a “for cause” removal protection for RB presidents so theoretically 4 votes on the Board of Governors in June could remove a RB president even if they were just re-appointed. Keeps incentive to stay.

[Dan Hartman @danhartman]

@ProfKateJudge A big deal in constitutional terms but with very little practical impact for banks. State banks interested in more consistent supervision across different administrations have historically and will continue to be interested in Fed membership.

[Dan Hartman @danhartman]

@brianrknight Understand your point. Although I think Michael Barr’s experience this winter proves the VCS appointee is already de facto removable at this point.

[Dan Hartman @danhartman]

@ProfKateJudge This is no different than how things were functioning 3 years ago. You had an independent Fed, while at the same time a FDIC Chair and an Acting Comptroller as political appointees.

[Dan Hartman @danhartman]

This makes sense. The Fed (and in particular the FOMC) is not a 1, 3, or 5 member commission limited to DC like those considered by the case at issue. Instead, it is a 111-year old agency composed of 19 principals scattered across the country. There is no other agency designed remotely similar.

[SCOTUSblog @SCOTUSblog]

This case does not implicate the Federal Reserve, the court writes, b/c "the Federal Reserve is a uniquely structured, quasi-private entity that follows in the distinct historical tradition of the First and Second Banks of the United States."

[Dan Hartman @danhartman]

@TheStalwart They have a point. I cannot think of another federal agency that’s composed of 19 principals scattered across the country that vote by annual rotation. And it’s over 111 years old yet no other agency has been designed similarly since.

[Dan Hartman @danhartman]

More and more, I am speaking with clients about digital assets as guidance from DC changes and banks consider adoption of new fintech possibilities.

I appreciated the opportunity to share my perspective with @DsHollers at @YahooFinance on how these shifts can reshape the financial services landscape.

[Yahoo Finance @YahooFinance]

Banks, fintech, and crypto are colliding in the new Trump era https://t.co/IQXYSxJLQJ by @DsHollers

[Dan Hartman @danhartman]

Great reporting by @ByKyleCampbell @AmerBanker who spoke with me regarding the debate on Fed independence. With the FDIC and OCC quickly changing priorities on bank regulation with the change in administration, it only makes sense the Fed would follow, all while there is a strong consensus supporting the Fed’s monetary policy independence.

[Kyle Campbell @ByKyleCampbell]

There's been a lot of focus on the Fed's independence as of late, and almost all of it has focused on monetary policy. But another area where the central bank had also asserted its independence for decades has been left out of the conversation @AmerBanker https://t.co/r1P47jT8OF

[Dan Hartman @danhartman]

@TheStalwart For sure—and a decision from SCOTUS probably takes longer.

[Dan Hartman @danhartman]

Good to talk with @AmerBanker @FrankGargano1 about the changes at the @FDICgov, including the recent signal that they are removing reputation risk from their supervisory factors. https://t.co/JkQ2x9fDn0

[Dan Hartman @danhartman]

With last month's announcement of a ban on junk fees and its decision not to exempt the Massachusetts banking industry from the new rules, the @MassAGO is beginning to sound more like the CFPB. We go over the new rules and the need for banks to continue to prioritize consumer compliance despite the changes in Washington here:
https://t.co/s4n9EpU9Az

[Kiah Lau Haslett is a bank reporter (she/her) @khaslett]

Interesting statement from Fed Gov. Bowman about a branch approval on an application submitted in September 2024: https://t.co/qQKJYkzCQy

[Dan Hartman @danhartman]

Really important news from the OCC ending the practice of government-imposed de-banking of customers.

I think this reform has staying power and will also be adopted by the FDIC and the Fed, too. Let banks choose their customers based on their own reputational risk appetites.

[OCC @USOCC]

Focusing future examination activities on more transparent risk areas improves public confidence in the OCC’s supervisory process and makes clear that the OCC has not and does not make business decisions for banks. Read more at https://t.co/ijUZszBn0D